Barre’s City Council is expected to approve a property tax break this week for a development project in the heart of downtown.
Barre Mayor Thom Lauzon says the Council is evaluating a tax stabilization policy for a group of local developers.
Granite City Developers has pledged to restore a 50,000-square-foot, four-story former furniture building. In recent years, the building down the street from City Hall has been largely empty. Lauzon says up until recently these tax breaks were rare in Barre.
"Not now. Two years ago it was, but I’m so pleased with how our team is leading the city forward and how the constituents have responded," Lauzon says. "In the starter home market, we’ve been outselling every community in central Vermont for the past eight months. We’re attracting a lot of young families, and I think a lot of people are genuinely excited about our future."
If approved, the tax stabilization plan would keep the current property tax assessment level for the next ten year.