BURLINGTON, Vt. (WCAX) – Why isn’t lottery money making more of a dent in Vermont’s education fund? WCAX viewer Brenda asked us that question, so we got her answers.
Brenda wrote to us after our report Wednesday on the Scott administration unveiling its education finance reform plan. The proposal calls for revising the funding formula, ensuring students with similar needs receive the same funding regardless of where they live. It calls for a single statewide education property tax rate, allowing districts to choose if they want to raise more.
Brenda said, “I think education is the most important thing for our children. I also thought the purpose of the lottery was to fund education. Why don’t we use the money for education?”
The question about why lottery money doesn’t make more of a dent in the total is a question we get from time to time, and one you may also be wondering about.
We found the answer from the Joint Fiscal Office. They projected $35.6 million from the lottery will go into the education fund this fiscal year. That’s all of the lottery profits. But it’s a small fraction– just 1.6%– of the $2.3 billion projected education fund amount. By comparison, your property taxes make up $572 million of that after you factor in property tax credits. Commercial property taxes make up nearly $900 million of that. Sales tax, purchase and use tax, and meals and rooms tax also contribute more to the education fund than the lottery does.
Thank you for the question, Brenda. It helped us get other people answers, too.
If you have a question after seeing any of our reporting, send us a note at GettingAnswers@wcax.com, and we’ll try to get some answers for you, too.