Did anyone catch this a couple of weeks back? Apparently the republican fearing state of Vermont has taken Eminent Domain to a new level. Funny to note who the primary taxpayer is.
MONTPELIER — The unorganized town of Glastenbury has amassed an impressive property-tax surplus, despite its sparse population.
The $254,000 reserve, funded by six full-time residents and a handful of seasonal dwellers, has accrued at a rate of about $20,000 annually over the past decade or so.
Now the state of Vermont would like to take it….
…One Glastenbury home, a multimillion-dollar mansion, accounts for close to three-quarters of all property tax revenue raised there. The home is owned by Robert Scott, the former president and chief operating officer of Morgan Stanley. [More]
Vt. wants to seize surpluses
Peter Hirschfeld, Vermont Press Bureau, January 22, 2009