Why Renters Should Care About Property Taxes
Hi neighbors,
This is Laura Sánchez-Parkinson, your Ward 3 City Councilor, representing parts of the Old North End and Downtown. Residents in these two neighborhoods have the highest rates of renters in our city at about 75%. Our experiences as renters are not well represented in discussions related to property taxes, but our perspectives can impact the future of our city in multiple ways. Property tax policy impacts:
How generational wealth is concentrated among few in our community
Our ability to one day buy a home, particularly for immigrant and people of color who experience higher barriers to homeownership
Whether our city has the revenue needed to offer public services, benefiting everyone in our city including renters
Developing tax policy that is fair and equitable also benefits low and middle class homeowners, ensuring they have the relief needed to keep their homes and age in place.
Property tax discussions are often sensitive because they touch directly on people’s wealth and the value of their labor. Policies aimed at improving tax fairness can also raise difficult questions about generational wealth and whether those with greater financial resources should contribute toward the well-being of the broader community. These policies may also affect the real estate and development sectors if buyers, investors, or developers reconsider where they want to purchase or build. These are real considerations, and ultimately, I believe everyone in our community, including renters should have input into these decisions.
As renters, we make up the largest percentage of residents in our city, and if we are not engaged, those decisions will be made without us.
For the last six months I have been part of the Tax Fairness Committee. I am excited about our next steps.
On Monday, City Council will have a working meeting exploring three property tax proposals, followed by a series of community forums. My hope is that we can offer dinner and child care (I’m working on those logistics!) so that as many people can join the discussion. For now, I welcome you to save the dates: October 19, November 2, and November 16, all at 6pm.
We will briefly share an overview of our current property tax system, our proposed solutions for tax fairness, and we will create space for questions and discussions. The current ideas include:
TAX ON SECOND HOMES
A proposal to create a separate tax-classification for second homes in Burlington. Increasing taxes on those who vacation here in order to invest in our needs as a community, without increasing costs on those of us who live here.
PROPERTY TRANSFER TAX ON THE SALE OF HOMES OVER $1M
A proposal for a property transfer tax of 5% on the sale of single family homes valued at 1 million dollars or more, and dedicate the revenue to our Housing Trust Fund.
MEANS-TESTED HOMESTEAD EXEMPTIONS
This proposal considers creating a means-tested homestead exemption for properties under a certain value to access. The current proposal would be revenue neutral.
What else to expect this week at City Council?
– Housing Strategy Update from the Mayor: Mayor Mulvaney-Stanak & the CEDO team will give an update on the city’s housing strategy, launched in January 2026, that aims to double the amount of affordable housing built in the past 35 years within 10 years.
– OPC Updates & Work Session: An update from City Staff & their partner VCJR on the implementation process to date, including a look at results from the Service Assessment and what’s coming up in terms of planning. There will be no voting on this item at this meeting.
City Council meeting details for Monday, September 28th: https://burlingtonvt.portal.civicclerk.com/event/10091/files/agenda/21164
You can join us in-person, via Zoom, watch on the CCTV youtube link.
As always, I welcome your questions, ideas, and feedback.
Laura Sánchez-Parkinson, Ward 3 City Councilor
lsanchezparkinson@burlingtonvt.gov
Instagram: @sanchezparkinson_btv
