Homeowners could see savings under tax exemption backed by city group

AI-assisted summary

A Burlington working group proposed a homestead exemption that could save the average homeowner up to $200 on taxes.

The plan would increase taxes for non-homestead properties, such as second homes and commercial holdings.

The proposal aims to address inequities where less-expensive properties are over-assessed compared to high-value ones.

The average homeowner could save up to $200 on taxes under a plan from a city working group, while people with second homes or other non-homestead properties could see over $100 added to their bills.

That's what Burlington's Tax Fairness Working says could happen with a homestead exemption, which would decrease the assessed value of all homestead properties by the same amount.

The group is tasked by the mayor to identify and rem