BURLINGTON, Vt. (WCAX) – Burlington voters could be paying more to support infrastructure needs in the city in the form of a general obligation bond which city councilors will see for the first time Monday night.
Typically, the Burlington administration puts forward a general obligation bond for infrastructure every few years to address issues like crumbling sidewalks and aging bridges.
The $20 million general obligation bond would cost property owners with a $500,000 home around $11.50 more per month on top of what they pay.
This comes as the mayor’s administration is also floating a $200 million-plus bond to the ballot for major wastewater upgrades.
They are also facing another multimillion-dollar budget deficit that needs to be rectified before July.
“We can’t do it all. We can’t put all of these money-related items on the ballot, and so if we need to prioritize infrastructure needs of a general obligation bond, if we need to prioritize the infrastructure needs of our wastewater system, then we also can’t be going to voters to ask them for general fund tax increase,” said Ben Traverse, D-Burlington City Council.
The mayor’s administration hasn’t officially proposed a general fund tax rate increase, however, Traverse says there will likely be anywhere from an $8 million to $12 million gap that needs to be filled somehow. Previous administrations have done this by a tax rate increase.
As the city administration of Burlington deals with significant economic challenges, property taxpayers will likely be faced with an increasing school budget as well, as they pay for the new high school and as education costs are projected to be higher statewide.