Addison County Real Estate - Summer 2012

Page 1

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PAGE  2  â€”  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

Balance (Continued  from  Page  1) own  a  home  for  a  smaller  monthly  payment  than  ever  before.  Renters  are  therefore  looking  to  buy,  and  with  them  the  interested  pool  of  buyers  has  shot  up  in  recent  months,  giving  homes  on  the  market  more  attention. This  is  clearly  good  news  for  sellers.  According  to  the  Northern  New  England  Real  Estate  Information  Network,  the  sales  of  single-­family  homes  are  up  8.75  percent  from  last  year  during  the  spring  period  (April  through  June). These  same  factors  also  make  the  current  market  rosier  for  sellers. Although  this  may  seem  like  a  drastic  change  from  the  dull  prospects  of  previous  years  in  the  real  estate  market,  the  current  buying  and  selling  climate  is  a  product  of  the  nature  of  â€œThe market is real  estate,  experts  said.  Bonnie  Gridley,  owner  dynamic. of  RE/MAX  Champlain  Valley  Properties,  said  that  Many FRQVWDQW Ă€X[ LV RQH DVSHFW people the  market  that  many  don’t un- of  people  forget. derstand “The  market  is  dynamic.  Many  people  don’t  that evunderstand  that  every  ery time time  a  house  comes  onto  a house the  market  or  one  goes  comes under  contract  and  sells,  the  market  changes,â€?  said  onto the Gridley.  â€œThe  availability  market of  money  and  loans  and  the  or one lending  climate  contributes  goes un- to  the  market,  as  well  as  the  local  job  market  and  der conof  the  area  ...  as  tract and economy  well  as  the  country  and  the  sells, the world.â€? In  light  of  these  constant  market changes,  it  is  important  changes.â€? for  both  buyers  and  sellers  â€” Bonnie to  note  market  strategies.  Gridley, Gridley  said  that  the  best  owner of move  for  buyers  starting  RE/MAX the  process  is  to  work  with  Champlain a  lender  to  take  advantage  Valley RI WKH FXUUHQW ÂżQDQFLDO Property situation  and  understand  their  buying  potential. For  sellers,  brokers  agree  that  it  is  worthwhile  to  invest  in  minor  updates  and  time  to  clean  and  freshen  the  home  before  it  is  listed.  They  said  sellers  should  be  also  realistic  about  the  listing,  always  price  to  sell,  and  welcome  any  opportunity  to  show  the  property.  Information  like  this  can  be  crucial  in Â

THE  CURRENT  COUNTY  market  is  improving  and  offering  positives  for  both  buyers  and  sellers,  according  to  local  experts.  Low  inter-­ est  rates  and  growing  demand  for  properties  are  contributing  to  favorable  conditions. Independent  photo/Andrea  Warren

avoiding  stressful  found.  It  can  be  very  â€œI think more and more and  exhausting  home  disappointing  for  a  buying  or  selling.  people will rely on and use EX\HU WR ÂżQG WKH ULJKW Bill  Martin  of  Green  technology in their everyday home  only  to  have  Tree  Real  Estate  real estate transactions than someone  else  get  it  attributes  buyers’  ever before. Our profession in because  you  were  not  and  sellers’  recent  Addison County needs more prepared.â€? success  to  increased  Martin  predicts  that  knowledge  of  the  way  young tech-savvy people to there  will  be  a  steady  real  estate  works,  plus  become involved.â€? increase  in  the  local  â€” Century 21 Jack Associates real  estate  market,  preparation.  broker Neil Mackey with  gradual  increases  â€œMore  than  ever  buyers  are  educated  in  value.  He  believes  about  the  home  buying  that  Vermont  and  process,â€?  said  Martin.  â€œThe  vast  majority  of  Addison  County  in  particular  are  desirable  buyers  have  also  listened  to  Realtors’  advice  places  to  live  and  will  work  to  boost  a  to  be  pre-­approved  with  a  lender.  Both  of  market  upturn. these  are  good  for  the  buyers  so  that  they  As  the  market  changes  over  the  months  will  be  ready  when  the  right  property  is  and  years,  so  do  the  ways  transactions  are Â

handled.  Current  technologies  can  make  it  easier  for  parties  involved  to  buy  or  sell  KRPHV ZLWK HIÂżFLHQF\ &HQWXU\ -DFN Associates  broker  Neil  Mackey  said  that  the  trends  in  technology  would  continue  to  motivate  market  changes  in  the  future. “I  think  more  and  more  people  will  rely  on  and  use  technology  in  their  everyday  real  estate  transactions  than  ever  before,â€?  said  Mackey.  â€œOur  profession  in  Addison  County  needs  more  young  tech-­savvy  people  to  become  involved.â€? In  sum,  while  the  buying  and  selling  process  is  complex,  it  can  be  made  easier  by  knowing  the  current  real  estate  market.  At  the  moment,  there  are  advantages  for  buyers  and  sellers  alike,  and  becoming  educated  in  WKHVH LV WKH ÂżUVW VWHS WR VXFFHVV IRU ERWK

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A Special Publication of The Addison Independent, Monday, July 9, 2012 — PAGE 3

PAGE  4  â€”  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

Editors’  note

Dream  house

For  all  the  prospective  home  buyers  out  there,  take  a  minute  to  look  at  these  interest  rates  â€”  homebuyers  today  can  get  a  mortgage  for,  in  some  cases,  less  than  4  percent  interest.  According  to  the  Federal  Home  Loan  Mortgage  Corporation’s  mortgage  market  survey,  these  rates  are  some  of  the  lowest  on  record  in  the  last  two  decades.  Which  means,  for  those  whose  work  and  family  situation  is  fairly  secure  for  the  next  few  years,  it  may  be  a  good  time  to  buy  a  house.  A  conversation  with  a  ¿QDQFLDO FRXQFLORU FDQ KHOS WKRVH ZKR DUH thinking  about  buying  determine  if  now  is  the  time. And  for  those  selling  a  home,  real  estate  professionals  are  telling  us  that  that  while  the  market  has  not  returned  to  the  glory  days  of  a  decade  ago,  it  is  certainly  more  active  than  it  was  two  our  three  years  ago  in  the  depths  of  the  recession.  The  National  Association  of  Realtors  recently  reported  that  the  number  of  people  who  signed  contracts  to  buy  previously  occupied  homes  rose  in  May,  matching  the  fastest  pace  in  two  years.  Another  real  estate  trade  group  currently  tracking  the  market   says  that  sales  of  single-­family  homes  in  Northern  New  England  this  past  spring  were  up  8.75  percent  from  the  same  period  last  year.  We  hope  readers  will  use  this  supplement  as  a  guide  to  get  started  with  buying  or  selling  a  house  while  interest  rates  are  low  and  the  market  continues  to  turn  around.  Talk  with  family  and  friends  who  have  been  through  the  process,  and  don’t  forget  that  many  real  estate  professionals  have  years  of  experience  and  resources  that  can  help  you  buy  or  sell  a  home. —  The  editors

(Continued  from  Page  1) KDUG WR PDLQWDLQ KRSH WKDW WKH\ ZRXOG ÂżQG VRPH-­ thing  perfect.  They  were  on  the  search  for  a  mod-­ HUQ KRPH WKDW ZRXOG UHĂ€HFW WKHLU VW\OH RI OLYLQJ Moving  into  an  old  home  did  not  seem  comfort-­ DEOH IRU WKHP $W ÂżUVW JODQFH PDQ\ RI WKH SURSHU-­ ties  they  looked  at  seemed  like  great  deals,  but  after  calculating  repairs  and  renovations  needed  WR PRGHUQL]H WKHP WR ÂżW WKHLU OLIHVW\OH WUHQGV WKH resulting  total  cost  suddenly  fell  from  reach.  When  looking  at  houses  built  at  the  turn  of  the  last  century,  they  were  unsure  of  the  return  those  properties  would  yield.  â€œSay  the  house  is  listed  for  $230,000,  you  get  it  for  220  or  225.  That  may  seem  like  a  pretty  good  deal,â€?  Colby  Benjamin  said.  â€œBut  then  you’re  looking  at  closing  costs,  a  new  roof,  a  new  foun-­ dation,  potentially  other  things  that  you  want  to  change  â€Ś  to  me  I  was  looking  at  those  houses  and  going  â€˜Market  value  is  225,  I  have  to  sink  50,000  or  60,000  into  it  to  get  it  up  to  where  I  want  the  house  â€Ś  is  it  ever  going  to  be  worth  310  or  315?  Am  I  ever  going  to  make  that  money  EDFN"Âś 'HÂżQLWHO\ QRW ´ When  they  saw  their  current  home,  Benjamin  says  he  knew  right  away.  ³,W ZDV WKH ÂżUVW OD\RXW WKDW ZH FRXOG SLFWXUH ourselves  living  in,  and  it  was  a  price  that  we  could  afford,â€?  he  said. They  moved  quickly  to  put  in  a  bid,  and  got  it.  With  an  offer  in  only  a  couple  of  days  after  of  seeing  it,  they  had  a  contract  the  next  week,  and  closed  on  the  property  six  weeks  later.  Looking  back  at  the  process,  Benjamin  recalls  WKH GLIÂżFXOW WLPHV EXW DOVR UHFRJQL]HV WKH KHOS that  friends  and  family  provided  along  the  way.  As  a  son  of  a  general  contractor,  and  with  more  WKDQ ÂżYH \HDUV RI FDUSHQWU\ H[SHULHQFH KLPVHOI Benjamin  had  many  guides  as  a  home  buyer.  The Â

THIS  HALLADAY  ROAD  home  proved  to  be  just  right  for  homebuyers  Monica  and  Colby  Benjamin,  who  found  it  after  over  a  year  of  searching  in  Addison  County. Independent  photos/Christy  Lynn

most  helpful  advice  he  was  given,  he  said,  was  to  â€œmake  sure  we  were  buying  a  house  because  we  actually  wanted  to  live  here,  and  not  just  buying  a  house  because  we  wanted  a  house.â€?  It  sounds  simple,  but  Benjamin  says  that  once  they  were  able  to  answer  â€œyesâ€?  to  that  question,  they  were  able  to  get  serious  about  buying.  Benjamin  also  recalls  their  decision  to  buy  a  (See  Benjamins,  Page  12)

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KEEP IT LOCAL

A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012  â€”  PAGE  5

Vermont (Continued  from  Page  1) percent  increase  from  last  year.  The  median  sale  last  year.  More  homes  have  been  introduced  price  of  homes  in  the  area  is  $185,900,  which  is  to  the  market  in  recent  months,  generating  a  13.5  percent  decrease  from  last  year.  Despite  the  fall  in  home  prices  so  far,  experts  do  expect  greater  activity. Broker  Neil  Mackey  of  Century  21  Jack  them  to  rise  this  year  due  to  the  low  interest  Associates  said  that  one  consequence  of  this  rates  and  growing  demand.  In  spite  of  some  negative  trends  in  the  increase  in  options  is  that  local  buyers  have  regional  and  national  markets,  higher  expectations. 9HUPRQW KDV FRQWLQXHG WR EHQHÂżW “The  buyers  have  more  inventory  â€œI expect from  the  recently  lower  costs  of  to  choose  from,â€?  said  Mackey.  â€œI  recently  had  buyers  that  looked  the market mortgage  funds.  In  April,  Federal  Reserve  policy  makers  said  they  at  18  different  properties  before  may slow to  keep  interest  rates  low  making  an  offer  that  went  under  in the next intended  for  the  foreseeable  future.  contract.â€? Due  to  factors  like  mortgage  Mackey  said  challenges  could  few years DULVH IURP WKH FRQĂ€LFWLQJ QHHGV DQG as interest rates  and  the  general  economy,  the  Addison  County  market  has  seen  a  wants  of  buyers  and  sellers.  He  said  while  sellers  usually  expect  to  get  rates start sudden  spike  in  activity.  However,  not  all  experts  predict  it  will  grow.  more  than  their  property  is  worth,  to climb Geri  Reilly  Real  Estate  agent  Jill  buyers  are  looking  for  bargain  prices.  back up.â€? Fraga  interprets  this  spring  as  Bringing  these  two  sides  together  â€” Geri Reilly “stableâ€?  and  believes  that  the  local  determines  the  fair  market  value  and  Real Estate area  market  is  not  necessarily  on  the  â€”  if  it  happens  at  the  current  rate  â€”  agent Jill Fraga rise  because  rates  may  not  stay  low  boosts  creates  a  more  active  market. forever  as  demand  rises.  Higher  selling  activity  can  â€œI  expect  the  market  may  slow  in  the  next  be  partially  attributed  to  Vermont’s  low  unemployment  rate.  Vermont  boasts  the  few  years  as  interest  rates  start  to  climb  back  lowest  jobless  rate  among  New  England’s  six  up,â€?  said  Fraga. While  Fraga  has  a  slightly  less  optimistic  states,  and  Addison  County’s  relatively  stable  economic  situation  has  boosted  real  estate  outlook,  she  also  says  that  area  trends  have  demand,  according  to  the  experts  and  the  stats.  been  positively  focused  around  sustainable  Addison  County’s  pending  listings  have  risen  living.  More  and  more  attention  has  been  paid  by  29  percent  this  year,  and  homes  have  spent  to  sustainable  aspects  in  homes  and  has  become  an  average  of  64  days  on  the  market,  a  dramatic  a  popular  point  of  interest  for  buyers  in  the  area,  something  that  may  offer  another  positive  view  decrease  from  last  year’s  average  of  211  days. According  to  Coldwell  Banker  Hickok  and  of  the  current  state  of  our  state. “Buyers  seem  to  be  paying  more  attention  to  Boardman’s  Northwest  Vermont  early  spring  2012  market  report,  Addison  County  recorded  HQHUJ\ HIÂżFLHQF\ ZKHWKHU LW EH LQ WKH IRUP RI 65  residential  sales  from  January  to  April,  a  14  size,  age  or  systems  of  the  home,â€?  said  Fraga. Â

Straightforward Advice from Real Estate Professionals Â

Choose  the  Right  REALTORŽ A  Realtor  with  experience  and  knowledge  will  be  able  to  provide  you  with  the  guidance  you  need  to  make  informed  decisions.  Make  sure  you  choose  wisely.

Location

 Â

Prioritizing  Your  Needs  List

The  Right  Questions  to  Ask  A  REALTORŽ

 When  people  decide  to  start  looking  for  that  perfect  home,  most  have  a  vague  idea  of  what  they  want.   While  it’s  helpful  to  not  have  things  set  in  stone,  it  will  be  a  plus  for  you  and  your  Realtor  to  make  a  list  of  what  features  you  have  to  have  in  your  next  home.

How long have you been in the business? Experience  is  key  when  hiring  a  Realtor,  especially  when  it  comes  to  guidance  during  negotiations.  When  selling  a  home,  A  Realtor’s  con-­ tacts  are  invaluable  and  can  reduce  the  time  your  home  is  on  the  mar-­ ket.  When  buying  a  home,  A  Realtor’s  knowledge  of  the  marketplace  can  save  you  time  and  help  you  avoid  looking  at  homes  that  don’t  meet  your  needs.  What’s your best strategy to help me achieve my goals? If  you’re  selling:  How  will  you  sell  my  home?  What  tools  will  you  use  to  approach  the  sale  of  my  home?  Will  you  focus  on  one  form  of  market-­ ing,  or  is  your  approach  to  marketing  multi-­faceted?  If  you’re  buying:  How  will  you  help  me  during  the  Purchase  pro-­ cess?  What  services  can  I  expect?

Location,  location,  location!  How  many  times  have  you  heard  this?  It  still  holds  true,  and  always  will.  You  can  re-­model,  re-­design  and  land-­ scape  but  you  can’t  change  the  location.  Where  you  buy  the  home  is  just  as  important  as  the  home,  if  you’ve  got  appreciation  of  value  in  mind.

Is  the  kitchen  the  center  of  your  universe  at  home?   If  it  is,  a  great  kitch-­ HQ ZLWK DOO WKH HIÂżFLHQFLHV DSSOLDQFHV DQG FRQYHQLHQFHV LV D PXVW 'R you  spend  a  lot  of  time  outside?  You’ll  want  to  have  some  outdoor  living  space  such  as  a  deck  or  patio.  Love  to  work  out?  You’ll  need  space  for  your  exercise  equipment.

Home  Inspections

Once  you  know  what  you  can  and  can’t  live  without,  prioritize.  What  if  the  house  doesn’t  have  the  perfect  indoor  gym  space?  Is  there  room  to  create  it  or  is  this  a  compromise  you’re  not  willing  to  make?  Once  you  have  the  list,  communicate  with  your  Realtor.  They  can  make  your  wants  and  needs  a  reality  with  a  little  help  from  you!   Â

A  home  inspection  is  a  sound  investment  â€”  it  could  save  you  thou-­ sands  of  dollars!  A  professional  home  inspector  will  examine  structural,  mechanical,  electrical,  plumbing  and  heating  as  well  as  other  systems,  and  can  help  you  make  informed  decisions.

Your  Lender  and  Your  Loan

Choose  your  lender  wisely  and  make  sure  the  loan  program  is  appro-­ SULDWH IRU \RX $ JRRG OHQGHU ZLOO WDNH WKH WLPH WR ¿QG WKH ORDQ WKDWœV best  for  you.

Buy  a  Home  You  Can  Afford

Use  a  lender’s  guidelines  and  your  family  budget  to  decide  how  much  house  you  can  afford.  You  want  to  get  the  most  house  for  your  money  without  over  extending  yourself.

Buy  a  Home  You  Like

Buying  a  home  can  be  an  emotional  decision  for  you  and  your  fam-­ ily.  Think  it  through  and  weigh  the  pros  and  cons.   It’s  OK  to  garner  input  from  family  and  friends,  just  remember  that  you’re  the  one  that  KDV WKH ÂżQDO ZRUG EHFDXVH RQO\ \RX NQRZ ZKDWÂśV EHVW IRU \RX Â

Do you have references, and would you be willing to let me con-­ tact your former clients?   Ask  former  clients/customers  what  their  experience  with  the  Realtor  was  like,  how  they  handled  details  and  how  their  team  worked  together. What haven’t I asked you that I need to know? There  will  always  be  questions.  How  a  Realtor  answers  them  can  tell  you  a  lot  about  their  knowledge  and  how  you  will  interact.  You  want  a  Realtor  who  hears  you,  addresses  your  concerns  and  deals  head-­on  with  any  questions  you  may  have.

Ingrid Punderson Jackson Real Estate 44 Main Street Middlebury, VT 05753 802-388-4242

www.middvermontrealestate.com

PAGE  6  â€”  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

Low  rates,  programs  seen  helping  many  homebuyers By  LAUREN  DAVIDSON 0,''/(%85< ² $V UHFHQW IDFWV DQG ¿J-­ ures  demonstrate,  individuals  in  the  home-­ EX\LQJ PDUNHW PD\ EH LQ OXFN 6R IDU has  proved  to  be  beneficial  to  Addison  &RXQW\ KRPHEX\HUV The  Addison  Independent  recently  VSRNH ZLWK 6DUDK $ 3 &RZDQ VHQLRU vice  president  and  loan  de-­ SDUWPHQW PDQDJHU RI WKH 1DWLRQDO %DQN RI 0LGGOHEXU\ WR JHW KHU WKRXJKWV DERXW the  current  area  real  estate  mar-­ NHW 7KH VKRUW question  and  answer  outlines  WKH EDQNLQJ SHU-­ spective  on  home  EX\LQJ LQ $GGLVRQ &RXQW\ Q:  What  have  you  no-­ ticed  about  the  real  estate  mar-­ NHW LQ $GGLVRQ &RXQW\" $ -XVW GULYLQJ LQ WKH DUHD \RX FDQ VHH WKHUH DUH D ORW RI ³)RU 6DOH´ VLJQV 7KHUH DUH FXUUHQWO\ SHQGLQJ FRQWUDFWV RQ KRPHV ZKLFK LV D VLJQ RI DQ LQFUHDVH LQ PDUNHW GH-­ PDQG 7KLV LV YHU\ JRRG QHZV DQG UHIOHFWV D SRVLWLYH FKDQJH LQ WKH HFRQRP\ Q:  A  tax  credit  was  available  for  first-­ WLPH KRPHEX\HUV LQ SUHYLRXV \HDUV :KDW LI DQ\ H[LVWLQJ WD[ FUHGLWV DUH LQ SODFH WKDW PDNH QRZ D JRRG WLPH WR EX\" A:  I  am  not  aware  of  any  current  tax  EUHDNV IRU SHRSOH ORRNLQJ WR EX\ KRPHV

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Q & A

THE  BENJAMINS  ENJOY  the  kitchen  in  their  new  home.  The  open  layout  and  mod-­ ern  design  of  this  10-­year-­old  home  was  one  of  many  selling  features  for  this  young  couple. Independent  photo/Christy  Lynn Â

Delightful Country Home

c. 1830 Stone Manor

The Blake House between Rutland and Middlebury. Myriad architectural details of historical significance, but also new custom kitchen, updated bathrooms, and new furnace. 6 picturesque acres. It is gracious, spacious, altogether gorgeous and offered at the reasonable price of $565,000. Call Betty Ann Martin 802-747-7100 877-208-0222 toll free

Green Mountain Realty

A Special Publication of The Addison Independent, Monday, July 9, 2012 — PAGE 7

PAGE  10  â€”  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

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Decorative Concrete Turn your drab concrete into something Beautiful

Rainbow Acres Landscaping 802-373-5759 / 802-759-2225

Landscaping Lawn Mowing Lighting Stone Work Paver Cleaning & Sealing and More!!!

www.rainbowacreslandscape.com

A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012  â€”  PAGE  11

Champlain  Valley  Properties 101  Court  Street,  Middlebury  VT www.midvthomes.com Outstanding  Agents Outstanding  ResultsŽ

R P ed ric uc e  ed !

Ferrisburgh  â€“  Cozy  3  Br  2  bath  country  Cape  on  a  very  nicely  landscaped  .5  acre  lot  with  a  2  car+  detached  garage  and  large  west  facing  deck.  Conveniently  located  QHDU 5W IRU DQ HDV\ FRPPXWH 1 RU 6 )DPLO\ URRP EDU RQ ORZHU level  is  perfect  for  entertaining.  &DOO %RQQLH *ULGOH\ or  e-­mail  bonnie@midvthomes. com                             Â

Panton  â€“  Beautifully  maintained  %5 %$ KRPH RQ DFUHV Extras  include  a  horse  barn,  single  detached  garage,  large  attached  garage,  gorgeous  sun-­ URRP H[SDQVLYH ORZHU OHYHO )5 Z ÂżUHSODFH VR PXFK PRUH Convenient  to  Vergennes.  Call  %RQQLH *ULGOH\ or  e-­mail  bonnie@midvthomes. com  $265,000

Middlebury  â€“ 6SDFLRXV %5 2-­1/2  bath  home  w/lots  of  space  on  a  2  acre  lot  w/beautiful  maple  WUHHV ODUJH ODZQ .LWFKHQ RSHQV to  a  large  DR,  spacious  family  URRP /5 Z )3 RIÂżFH PXGURRP dry  basement  plus  storage  above  the   2   car   garage.    Call    Nancy )RVWHU RU H PDLO n a n c y @ m i d v t h o m e s . c o m  Â

Brandon  Village  â€“  Enjoy  all  that  village  living  has  to  offer.  Walk  to  stores,  restaurants,  library,  EDQN PRUH IURP WKLV EHDXWL-­ IXO EULFN %5 EDWK KRPH $ ODUJH OLYLQJ URRP Z ÂżUHSODFH formal  DR,  many  built-­ins,  great  ZRRGZRUN ÂżQLVKHG UG Ă€RRU DQG a  detached  barn/garage.  Contact  %RQQLH *ULGOH\ RU bonnie@midvthomes.com   Â

New  Haven  Horse  Farm  â€“  %HHFK +LOO )DUP LV RQ acres  of  pastures/conserved  crop-­ land  with  a  22  stall  main  barn,  VWDOO DFFHVVRU\ EDUQ LQGRRU ULGLQJ DUHQD KHDWHG HTXLSPHQW EDUQ RIÂżFH VSHFWDFXODU $G-­ LURQGDFN YLHZV 7KH IDUPKRXVH KDV %5ÂśV %$ÂśV &DOO %RQ-­ QLH *ULGOH\ RU email  bonnie@midvthomes.com  Â

Middlebury  â€“  A  charming  3BR  1  bath  Cape  conveniently  located  RQ D QLFH $ ORW WR DOORZ IRU a  variety  of  uses;Íž  small  business,  RIÂżFH RU UHVLGHQFH :RQGHUIXO IHDWXUHV LQFOXGH ZRRG Ă€RRUV ORWV RI EXLOW LQV D ÂżUHSODFH DQG D large,  private  yard  w/space  to  gar-­ GHQ &DOO 1DQF\ )RVWHU RU QDQF\#PLGYWKRPHV FRP $165,000

Middlebury  â€“  Charming  3  BR,  ò EDWK KRPH RQ D ODUJH DFUH ORW 0DQ\ WHUULÂżF IHDWXUHV include  an  oversized  2  car  garage  w/room  for  a  workshop,  spacious  family  room  w/woodstove,  PRXQWDLQ YLHZV HYHQ FHQWUDO $ & &RQWDFW 1DQF\ )RVWHU DW RU QDQF\# midvthomes.com.  Â

Bristol  Village  â€“ 2QH RI %ULVWROÂśV ÂżQHVW KRPHV LV RQ D ODUJH DFUH ORW LQ D FRQYHQLHQW KLJKO\ desirable  location  in  the  heart  of  the  village.  Spacious  sunny  URRPV ÂżUHSODFHV %5ÂśV baths  grace  this  historic  center  hall  colonial.  Contact  Bonnie  *ULGOH\ DW RU e-­mail  bonnie@midvthomes.com  Â

Middlebury  â€“  Spacious  well  maintained  3  BR,  2  bath  home  on  a  lovely  landscaped  1  acre  lot.   &XVWRP FUDIWHG NLWFKHQ Z TXDUW] FRXQWHUV QHZ URRI LQ ODUJH IDPLO\ URRP RYHUVL]HG 2  car  garage  w/workshop  VSDFH &RQWDFW 1DQF\ )RVWHU DW RU QDQF\# midvthomes.com   $250,000

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East  Middlebury  â€“   Immaculately  maintained  3  BR  2  bath  home  on  D ODUJH EHDXWLIXOO\ ODQGVFDSHG acre  lot.  3  car  garage/workshop,  ¿OWHUHG ZDWHU V\VWHP JHQHUDWRU SRWHQWLDO IRU PRUH %5ÂśV D EDWK LQ WKH XQÂżQLVKHG XSVWDLUV &DOO 'LDQD %HUWKLDXPH DW RU H PDLO GLDQD# midvthomes.com  Â

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Bristol  â€“  Vermont  farmhouse  w/  FXVWRP UHQRYDWLRQV DQG %5ÂśV EDWKV 3ULYDWHO\ ORFDWHG by  the  New  Haven  River  yet  a  short  distance  from  the  charm-­ ing  village  center  with  its  many  VWRUHV VRFLDO DFWLYLWLHV 2SHQ /5 '5 Z YDXOWHG FHLOLQJV +: Ă€RRUV DQG TXDOLW\ GHWDLOV throughout.  Call  Bonnie  Gridley  RU HPDLO ERQQLH# midvthomes.com  Â

R P ed ric uc e  ed !

Salisbury  â€“  Beautifully  con-­ structed  5  star  energy  rated  home  RQ DFUHV Z SULYDF\ YLHZV RI WKH $GLURQGDFN /DNH &KDP-­ SODLQ 0DQ\ TXDOLW\ IHDWXUHV OLNH KDUGZRRG Ă€RRUV VWRQH ÂżUHSODFH Âś FHLOLQJV ORYHO\ PROGLQJV ZDON RXW EDVHPHQW KLJK HI-­ ÂżFLHQF\ KHDWLQJ V\VWHP &DOO 1DQF\ )RVWHU RU e-­mail   nancy@midvthomes.com  $565,000  Â

R P ed ric uc e  ed !

Middlebury  â€“  Charming  one  BR  home  perfect  for  the  person  who  is  feeling  like  he/she  has  paid  rent  ORQJ HQRXJK 0DQ\ XSJUDGHV include  a  custom  kitchen,  new  windows  and  vinyl  siding.  There  are  2  spacious  sheds  for  storage.  :DON WR HYHU\WKLQJ GRZQWRZQ &DOO 1DQF\ )RVWHU or  e-­mail  nancy@midvthomes. com Â

R P ed ric uc e  ed !

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Middlebury  â€“  3  BR  2  bath  home  w/the  charm  of  old  beams,  wide  SODQN Ă€RRUV )3ÂśV VODWH URRI yet  the  comfort  of  a  15  year  old  meticulously  built  house.  2  liv-­ ing  spaces  w/cathedral  ceilings,  SULYDWH SRUFK EHDXWLIXO \DUG short  walk  to  downtown.  Call  1DQF\ )RVWHU DW or  nancy@midvthomes.com  Â

R P ed ric uc e  ed !

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LAKE  FRONT  Orwell   â€“  Tradi-­ tional  NE  fully  dormered  cape  w/ screened  porch  with  panoramic  YLHZV RI /DNH &KDPSODLQ 7KLV 3BR,  2  bath  home  on  1.5  acres  LV RSHQ VSDFLRXV VXQ ÂżOOHG 0RGHUQ Z HYHU\WKLQJ XS WR GDWH )XOO ZDONRXW XQÂżQLVKHG basement  awaits  your  custom  WRXFKHV &RQWDFW %RQQLH *ULGOH\ DW RU H PDLO b o n n i e @ m i d v t h o m e s . c o m  Â

PAGE  12  â€”  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

Benjamins (Continued  from  Page  4) home  that  was  move-­in-­ready,  rather  than  to  buy  a  home  that  needed  more  serious  work.  ³,I \RXÂśUH JRLQJ WR EX\ D Âż[HU XSSHU EH SUH-­ SDUHG WR VSHQG D ORW RI PRQH\ DQG VSHQG D ORW RI time,â€?  he  said.  $V DOZD\V LWÂśV RQH WKLQJ LI \RX KDYH WKH UH-­ VRXUFHV IRU WKH MRE EXW LWÂśV QRW DOZD\V JRLQJ WR VDYH \RX WKH PRQH\ \RX WKLQN LW ZLOO %HQMDPLQ said.  ³$QG VRPHWLPHV LW FDQ JHW \RX LQ D ORW RI WURX-­ EOH ZKHQ \RXÂśUH H[SHFWLQJ LW WR EH D TXLFN SURM-­ ect,  and  it  turns  out  to  be  a  nightmare,â€?  he  added. 7KH %HQMDPLQV ZHUH FDUHIXO WR PDNH VXUH WKDW WKH\ ZHUH EX\LQJ D KRPH WKDW WKH\ FRXOG DIIRUG DQG WKDW ZDV QRW JRLQJ WR ULVN SXWWLQJ WKHP LQWR XQPDQDJHDEOH GHEW RU KDUGVKLS Âł<RX FDQÂśW MXVW ORRN DW ZKDW \RXU PRUWJDJH LV ´ %HQMDPLQ VDLG Âł<RXÂśYH JRW WR ORRN DW HYHU\WKLQJ that  goes  into  owning  a  house  and  make  sure  WKDW \RX KDYH HQRXJK PRQH\ WR SXW DZD\ VR WKDW when  your  furnace  breaks  down,  or  something  KDSSHQV \RX FDQ FRYHU LW %HFDXVH \RX GRQÂśW DO-­ ways  know.â€?  )RUJHWWLQJ WR FDOFXODWH FORVLQJ FRVWV LQVSHF-­ WLRQ UHSDLUV DQG PRYLQJ H[SHQVHV FRXOG FRVW D KRPHEX\HU D ORW RI XQH[SHFWHG PRQH\ WKDW PD\ have  to  go  onto  a  credit  card  with  a  high  interest  UDWH LI \RXÂśUH QRW FDUHIXO Âł,WÂśV ZRUWK GRLQJ WKH UHVHDUFK WDONLQJ WR \RXU 5HDOWRU DQG UHDOO\ ÂżJXULQJ LW DOO LQ ´ %HQMDPLQ VDLG Âł.QRZ ZKDW \RXÂśUH JHWWLQJ LQWR DQG SODQ for  it.â€? In  the  end,  it  seems  to  have  been  worth  the  ZDLW IRU &ROE\ DQG 0RQLFD %HQMDPLQ Âł,W ZDV D SDLQVWDNLQJ SURFHVV´ &ROE\ %HQMD-­ PLQ VDLG UHFDOOLQJ WKH ORQJ DQG DW WLPHV GLVFRXU-­ aging  search,  â€œbut  it  was  fun,  too.  And  now  it  IHHOV JUHDW WR JR KRPH DQG UHDOO\ HQMR\ LW ´

THE  BENJAMINS’  NEW  pool  offers  a  great  summer  refuge  as  the  weather  stays  warm  in  Addison  County.  Independent  photo/Christy  Lynn

Check  Out  This  Bristol  Gem! Vintage Village Greek Revival. 3  bedroom,  high  ceilings,  ZRRG Ă€RRUV VSDFLRXV URRPV :DONLQJ GLVWDQFH WR VKRSV restaurants  &  schools.  Great  backyard,  plenty  of  off-­street  parking.  Currently  used  as  a  2-­family  w/  upstairs  apt.  rental.  MLS#4150962 $204,999

VINYL SIDING & ROOFING

Lake  Dunmore  â€“ Camp  Winona Camp Winona,  one  of  the  original  cottages  of  the  famous  Lake  Dunmore  Hotel.  Renovated  with  an  upstairs  kitchen  and  living  area.  Direct  river  frontage,  deeded  land,  lake  frontage  directly  across  the  road.  Lake  and  mountain  views  from  upper  deck  and  screened-­in  lower  porch.  Some  furnishings  included.  Currently  being  used  as  a  2  family  cottage.  MLS  #4156428,  New  price $329,500

Susan Gulrajani, Â Realtor 802.989.9717 SusanG@HickokandBoardman.com

MyHomeinVermont.com

Al LeMay :LQGRZV ‡ 'RRUV ‡ 3DLQWLQJ 5HSDLUV 3UHVVXUH :DVKLQJ ALSO TREE WORK +DYH EXFNHW ZLOO WUDYHO ,QVXUHG 1R -RE 7RR 6PDOO

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A Special Publication of The Addison Independent, Monday, July 9, 2012 — PAGE 13

Vermont: Greater Burlington, St. Albans, Middlebury, Vergennes, Fairlee, Londonderry, Lyndonville, Manchester, Norwich, Rutland, Woodstock

New Hampshire: Hanover, West Lebanon, Grantham

PANTON 2 br, 2 bath home on .85± acres $529,000 MLS 4144775

CR EE K OT TE R

PR IC E

FERRISBURGH 3 br, 1 bath home on .10± acres $525,000 MLS 4158512

VERGENNES 6 br, 3 bath home on 4.129± acres $379,000 MLS 3071034

FERRISBURGH 3 br, 3 bath home on 2.1± acres $349,000 MLS 4152760

NEW HAVEN 3 br, 2 bath home on 1.1± acres $335,000 MLS 4155672

VERGENNES 5 br, 4 bath home on .45± acres $329,000 MLS 4051260

FERRISBURGH 2 br, 2 bath home on .5± acres $212,000 MLS 4153229

BRISTOL 3 br, 2 bath home on .92± acres $189,950 MLS 4070538

ADDISON 3 br, 2 bath home on 10.09± acres $187,500 MLS 4109391

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FERRISBURGH 4 br, 3 bath home on 20.13± acres $749,000 MLS 4138598

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FR ON T

FR ON T

Opening New Doors Every Day™

ADDISON 3 br, 2 bath home on 5.01± acres $254,900 MLS 4163897

VERGENNES 5 br, 3 bath home on .18± acres $242,000 MLS 4113935

ADDISON 4 br, 3 bath home on 5.07± acres $229,000 MLS 4081282

ADDISON 3 br, 2 bath home on 1± acres $185,000 MLS 4084225

VERGENNES 3 br, 2 bath home on 1.14± acres $184,900 MLS 4151138

ADDISON 3 br, 2 bath home on 10.10± acres $177,800 MLS 4140565

ADDISON 6 br, 5 bath home on 71.79± acres $895,000 MLS 4143347

BRIDPORT 3 br, 3 bath on 11.46± acres $692,500 MLS 4164501

ADDISON 3 br, 3 bath home on 12.3± acres $595,000 MLS 4154979

CORNWALL 4 br, 4 bath home on 12.6± acres $529,000 MLS 4124501

MIDDLEBURY 4 br, 3 bath home on .3± acres $409,000 MLS 4144782

NEW HAVEN 4 br, 4 bath home on 15.45± acres $398,000 MLS 4081508

BRIDPORT 4 br, 3 bath home on 20.21± acres $398,000 MLS 4139510

NEW HAVEN 6 br, 3 bath home on 3.45± acres $395,000 MLS 4141197

WEYBRIDGE 2 br, 2 bath home on 13.68± acres $395,000 MLS 4018459

MIDDLEBURY 4 br, 2 bath home on .21± acres $379,900 MLS 4146168

WALTHAM 4 br, 3 bath home on 7.84± acres $379,000 MLS 4164205

MIDDLEBURY 3 br, 2 bath home on 2.52± acres $329,000 MLS 4126217

CORNWALL 4 br, 2 bath on 23.10± acres $324,900 MLS 4116292

MIDDLEBURY 4 br, 3 bath home on .86± acres $292,000 MLS 4163316

SHOREHAM 3 br, 2 bath home on .61± acres $267,500 MLS 4123916

VERGENNES 4 br, 2 bath home on .4± acres $249,000 MLS 4160503

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VERGENNES 3 br, 2 bath home on .3± acres $279,000 MLS 4062117

LEICESTER +LJK WUDI¿F DQG YLVLELOLW\ convenience store $320,000 MLS 4135845

VERGENNES Commercial/Residential on Main Street $199,000 MLS 4035962

NEW HAVEN 14 guest room motel near Middlebury $649,000 MLS 4128837

FERRISBURGH Light manufacturing/retail space on Route 7 $448,346 MLS 4151761

BRISTOL +LJK WUDI¿F GRZQWRZQ UHWDLO RU RI¿FH VSDFH $299,900 MLS 4093611

BRIDPORT 2 br, 2 bath home on 11.44± acres $245,000 MLS 4098134

VERGENNES Turn-­key ice cream shop with rental space $449,000 MLS 4028157

BRISTOL 4 br, 3 bath home on .75± acres $236,900 MLS 4084345

COMMERCIAL PROPERTIES

Lang McLaughry Spera Middlebury Connie Houston Manager Broker

January Stearns REALTOR®/Broker

Courtney Houston REALTOR®/Broker

0LGGOHEXU\ 2IÀFH

9HUJHQQHV 2IÀFH

66 Court Street

268 Main Street Vergennes, Vermont 05491 802-­877-­3232 800-­577-­3232 802-­877-­2227 (fax)

Middlebury, Vermont 05753 802-­388-­1000 800-­856-­7585 802-­388-­7115 (fax) Richard Esty REALTOR®

Karen Merrill REALTOR® 2I¿FH

John Nelson REALTOR®

Christine Fraioli REALTOR®

Nancy Larrow REALTOR®

Donna LaBerge Nancy Ryan REALTOR®/Broker REALTOR®/Broker

Liz Marino REALTOR®

Karla Huinzenga REALTOR®

PAGE  14  â€”  A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012

National  market  picks  up $3 ² $PHULFDQV DUH ¿QDOO\ JDLQLQJ IURP $SULO WR D VHDVRQDOO\ DGMXVWHG DQQXDO FRQ¿GHQFH LQ WKH KRXVLQJ PDUNHW ¿YH \HDUV UDWH RI KRPHV (YHQ ZLWK WKH JDLQV DIWHU LW FROODSVHG WKH DQQXDO VDOHV SDFH LV OHVV WKDQ KDOI WKH 6DOHV RI QHZ DQG SUHYLRXVO\ RFFXSLHG WKDW ZRXOG EH FRQVLGHUHG QRUPDO KRPHV DUH XS IURP WKH VDPH WLPH ODVW \HDU ‡ +RPH SULFHV +RPH SULFHV URVH LQ $SULO +RPH SULFHV DUH ULVLQJ LQ PRVW PDUNHWV IURP 0DUFK LQ RI WKH FLWLHV WUDFNHG $QG KRPHEXLOGHUV DUH VWDUWLQJ E\ WKH 6WDQGDUG 3RRU¶V &DVH PRUH SURMHFWV 6KLOOHU KRPH SULFH LQGH[ 7KDW¶V Americans 7KH PDUNHW VWLOO KDV D ORQJ ZD\ bought new WKH VHFRQG VWUDLJKW PRQWK SULFHV WR UHJDLQ IXOO KHDOWK %XW WKH GDWD KDYH ULVHQ LQ D PDMRULW\ RI 8 6 VXJJHVW WKH ZRUVW LV RYHU DQG D homes in May FLWLHV $QG D PHDVXUH RI QDWLRQDO at the fastest SULFHV URVH SHUFHQW LQ $SULO PRGHVW UHFRYHU\ LV XQGHU ZD\ +HUH¶V D ORRN DW UHFHQW KRXVLQJ pace since IURP 0DUFK WKH ¿UVW LQFUHDVH LQ LQGLFDWRUV VHYHQ PRQWKV %DVHG RQ WKH April 2010, ‡ 3HQGLQJ KRPH VDOHV 7KH according to FLW\ LQGH[ SULFHV DUH QRZ DERXW QXPEHU RI SHRSOH ZKR VLJQHG the Commerce ZKHUH WKH\ ZHUH LQ HDUO\ FRQWUDFWV WR EX\ SUHYLRXVO\ ‡ +RXVLQJ VWDUWV 8 6 RFFXSLHG KRPHV URVH LQ 0D\ Department. EXLOGHUV VWDUWHG ZRUN RQ PRUH PDWFKLQJ WKH IDVWHVW SDFH LQ WZR Sales rose VLQJOH IDPLO\ KRPHV LQ 0D\ IRU \HDUV 7KH 1DWLRQDO $VVRFLDWLRQ 7.6 percent D WKLUG VWUDLJKW PRQWK DFFRUGLQJ RI 5HDOWRUV VDLG LWV LQGH[ RI VDOHV in May from WR GDWD IURP WKH &RPPHUFH DJUHHPHQWV LQFUHDVHG WR April to a 'HSDUWPHQW $QG KRPHEXLOGHUV LQ 0D\ IURP LQ $SULO $ UHTXHVWHG WKH PRVW SHUPLWV WR seasonally UHDGLQJ DERYH LV FRQVLGHUHG VWDUW SURMHFWV LQ \HDUV adjusted KHDOWK\ 2YHUDOO KRXVLQJ VWDUWV IHOO LQ 0D\ ‡ &RPSOHWHG KRPH VDOHV annual rate WR D VHDVRQDOO\ DGMXVWHG DQQXDO &RPSOHWHG VDOHV RI SUHYLRXVO\ of 369,000 UDWH RI %XW WKDW ZDV RFFXSLHG KRPHV IHOO LQ 0D\ WR homes. HQWLUHO\ EHFDXVH RI D SOXQJH LQ D VHDVRQDOO\ DGMXVWHG DQQXDO YRODWLOH DSDUWPHQW FRQVWUXFWLRQ UDWH RI PLOOLRQ DIWHU QHDUO\ 6WLOO WKH UDWH RI FRQVWUXFWLRQ WRXFKLQJ D WZR \HDU KLJK WKH SUHYLRXV DQG WKH OHYHO RI SHUPLWV UHTXHVWHG UHPDLQ PRQWK 7KH 1DWLRQDO $VVRFLDWLRQ RI 5HDOWRUV URXJKO\ KDOI WKH SDFH FRQVLGHUHG KHDOWK\ VD\V VDOHV KDYH ULVHQ SHUFHQW IURP D \HDU ‡ 0RUWJDJH UDWHV 7KH DYHUDJH 8 6 UDWH DJR 6WLOO VDOHV DUH ZHOO EHORZ WKH PLOOLRQ RQ D \HDU ¿[HG PRUWJDJH IHOO LQ ODWH -XQH D \HDU UDWH WKDW HFRQRPLVWV FRQVLGHU KHDOWK\ WR SHUFHQW WKH ORZHVW VLQFH ORQJ WHUP ‡ 1HZ KRPH VDOHV $PHULFDQV ERXJKW PRUWJDJHV EHJDQ LQ WKH V 7KH UDWH RQ QHZ KRPHV LQ 0D\ DW WKH IDVWHVW SDFH VLQFH WKH \HDU ORDQ KDV EHHQ EHORZ SHUFHQW $SULO DFFRUGLQJ WR WKH &RPPHUFH VLQFH 'HFHPEHU DFFRUGLQJ WR PRUWJDJH 'HSDUWPHQW 6DOHV URVH SHUFHQW LQ 0D\ EX\HU )UHGGLH 0DF

How  does  Vt’s  education  property  tax  system  work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· &/$ $GMXVWHG 9DOXH 1RZ WKH WD[HV SDLG E\ WKH WZR FDPSV ZRXOG EH WKH VDPH How  does  the  spending  level  voted  in  my  town  affect  the  homestead  education  tax  rate? 7KH WD[ UDWH OHYLHG RQ KRPHVWHDG SURSHUW\ LV DGMXVWHG XSZDUG LI WKH UHVLGHQWV RI WKDW VFKRRO GLVWULFW VSHQG PRUH WKDQ WKH ³EDVH HGXFDWLRQ VSHQGLQJ´ DPRXQW 7KH EDVH LV SHU SXSLO IRU WD[ \HDU )< +HUH¶V DQ LOOXVWUDWLRQ RI KRZ WKH UDWH LV DGMXVWHG 6D\ \RXU ORFDO VFKRRO EXGJHW SURYLGHV IRU VSHQGLQJ RI SHU SXSLO 7 K H KRPHVWHDG WD[ UDWH RI ZLOO EH DGMXVWHG ,W ZLOO EH DGMXVWHG KLJKHU LQ SURSRUWLRQ WR WKH DPRXQW \RXU YRWHUV GHFLGHG WR VSHQG RYHU SHU SXSLO ,Q WKLV H[DPSOH WKH GLVWULFW VSHQGLQJ DGMXVWPHQW LV /RFDOO\ $SSURYHG SHU 3XSLO 6SHQGLQJ (See  Property  taxes,  Page  15)

Editor’s  note:  In  Vermont,  the  state  sets  the  education  property  tax  rate,  along  with  local  school  boards.  All  homeowners  pay  property  tax  to  pay  for  public  schools  based  on  the  value  of  their  home  and  land,  and  many  receive  a  discount  based  on  their  income.  The  Department  of  Taxes  provided  this  FAQ  about  the  education  property  tax  rate. How  are  the  education  tax  rates  set? )RU WD[ \HDU )< WKH EDVH HGXFDWLRQ WD[ UDWH IRU KRPHVWHDG SURSHUW\ LV ,W LV DGMXVWHG E\ WKH GLVWULFW VSHQGLQJ DGMXVWPHQW DQG E\ WKH VFKRRO GLVWULFW¶V FRPPRQ OHYHO RI DSSUDLVDO NQRZQ DV WKH &/$ )RU WD[ \HDU )< WKH EDVH WD[ UDWH IRU QRQUHVLGHQWLDO SURSHUW\ LV ,W LV DGMXVWHG E\ WKH VFKRRO GLVWULFW¶V FRPPRQ OHYHO RI DSSUDLVDO 7KH QRQUHVLGHQWLDO WD[ UDWH LV QRW PXOWLSOLHG E\ WKH GLVWULFW VSHQGLQJ DGMXVWPHQW What  is  the  purpose  of  the  common  level  of  appraisal? 7KH DGMXVWPHQW E\ WKH FRPPRQ OHYHO RI DSSUDLVDO &/$ HQVXUHV WKDW \RX DQG \RXU QHLJKERU LQ WKH QH[W WRZQ SD\ WKH VDPH DPRXQW RI HGXFDWLRQ WD[ RQ SURSHUWLHV RI HTXDO YDOXH 7KH &/$ LV XVHG WR HTXDOL]H HGXFDWLRQ WD[HV VWDWHZLGH E\ UHÀHFWLQJ ORFDO YDULDWLRQV WKDW RFFXU EDVHG RQ UHDSSUDLVDO VFKHGXOHV DQG RWKHU IDFWRUV ([DPSOH /HW¶V VD\ \RX KDYH D FDPS LQ (DVW 2YHUVKRH WKDW LV ZRUWK <RXU OLVWHUV GLG D FRPSOHWH UHDSSUDLVDO IRU WD[ \HDU DQG WKH\¶YH DVVHVVHG \RX DW 7KHUH¶V D FDPS DFURVV WKH WRZQ OLQH LQ :HVW 2YHUVKRH WKDW LV DOVR ZRUWK

Kittredge Land Surveying, PLLC Seth W. Kittredge, L.S.

Boundary  Retracement   â€“   Subdivisions Boundary  Line  Adjustments  )(0$ )ORRG &HUWL¿FDWLRQV Replacement  of  Missing  Corner  Monuments Vermont  Land  Records  Research  Expert  Witness  Services Topographic/Site  Surveys   Construction  Layout

Phone: 802-870-7028 Cell: 802-989-1625 28 Thomas Circle - Vergennes, Vt. 05491 email: kittredgelandsurveying@gmail.com

George Brewer

Mirjam Brett

Brian Valley

Friendly & Comprehensive Service for Buyers & Sellers in Addison County and Beyond 2337 Rt. 7 South Middlebury, VT

www.acrevt.com

A  Special  Publication  of  The  Addison  Independent,  Monday,  July  9,  2012  â€”  PAGE  15

Property  taxes (Continued  from  Page  14) $13,900  per  pupil. =  (District  Spending  Adjustment)  1.55050  or  The  homestead  tax  rate  will  be  $1.4182.  That’s  155.050%. $0.89  times  the  district  spending  adjustment. (Locally  Approved  per  Pupil  Spending)  The  effective  homestead  tax  rate  is  now  calcu-­ $13,900 lated  in  the  following  way: á  (Base  Education  Spending)  $8,723  (Base  Homestead  Rate)  $0.89  =  (District  Spending  Adjustment)  1.59349 x  (District  Spending  Adjustment)  1.55050  =  (Effective  Homestead  Tax  Rate)  $1.3799. (Base  Homestead  Rate)  $0.89  x  (District  Spending  Adjustment)  1.59349  If  the  CLA  in  your  town  is  90.00%,  your  =  (Effective  Homestead  Tax  Rate)  $1.4182. homestead  education  rate  to  be  applied  to  home-­ stead  properties  becomes  $1.0409. The  nonresidential  tax  rate  is  $1.38.  (Effective  Homestead  Rate)  $1.3799  á  (CLA)  0.9000  Of  course,  both  these  rates  would  then  be  ad-­ =  (Tax  Rate  Paid  by  Homestead  Properties)  justed  by  the  CLA. $1.5332 ,V WKHUH DQ DGGLWLRQDO DGMXVWPHQW IRU Keep  in  mind  that  some  town  districts  are  also  VFKRRO GLVWULFWV ZKRVH SHU SXSLO VSHQGLQJ LV D PHPEHUV RI XQLRQ VFKRRO GLVWULFWV RU XQLÂżHG ORW PRUH H[FHVV VSHQGLQJ WKDQ WKH DYHUDJH school  districts.  In  those  instances,  the  tax  rate  is  VWDWHZLGH" a  combination  of  the  individual  rates  of  the  dif-­ Yes.  If  a  town  has  â€œexcess  spending,â€?  then  the  ferent  districts  of  which  you  are  a  member. Department  of  Education  includes  that  excess  Is  the  nonresidential  tax  rate  of  $1.38  ad-­ twice  in  the  computation  of  its  district  spend-­ MXVWHG WR UHĂ€HFW VSHQGLQJ RYHU WKH ÂłEDVH HGX-­ ing  adjustment.  Excess  spending  means  the  per-­ FDWLRQ SD\PHQW"´ pupil  spending  (less  eligible  construction  costs)  No.  The  rate  for  nonresidential  property  is  the  is  in  excess  of  125  percent  of  the  excess  spend-­ same  for  all  property  in  Vermont.  It  is  adjusted  ing  base.  For  tax  year  2012  (FY13),  the  excess  only  by  the  common  level  of  appraisal.  If  the  spending  base  is  $11,873.  So  the  threshold  is  CLA  is  90.00%  the  rate  becomes: $14,841  (1.25  x  $11,873).  Let’s  look  at  an  ex-­ (Nonresidential  Tax  Rate)  $1.38 ample: á  (CLA)  .9000  Your  school  district  spends  $15,500  per  pupil.  =  (Effective  Nonresidential  Tax  Rate)  $1.5333. The  excess  spending  base  is  $11,873.  125%  of  :LOO WKHUH EH WRZQV ZKHUH WKH QRQUHVLGHQ-­ $11,873  is  $14,841. WLDO WD[ UDWH LV ORZHU WKDQ WKH KRPHVWHDG WD[ Your  per-­pupil  spending  exceeds  the  threshold  UDWH" by  $659.  ($15,500  â€“  $14,841.  This  is  your  school  Yes.  In  towns  with  per  pupil  spending  in  district’s  excess  spending. excess  of  $13,526  the  homestead  rate  will  be  The  district  spending  adjustment  is:  KLJKHU WKDQ WKH QRQUHVLGHQWLDO UDWH IRU ÂżVFDO \HDU [(District  spending)  15,500  +  (Excess  spend-­ 2013.  Consider  a  school  district  with  spending  of  ing)  659]

For Sale by Owner

Middlebury Cape Convenient and well-kept three bedroom house in Middlebury. In-town on spacious .41 acre lot. Easy walk to schools, downtown. Hardwood floors, bay window, brick fireplace with wood stove, finished basement with workshop, two-car garage. Recently renovated kitchen and upstairs bath, lovely new back porch. $310,000.

Contact Steve Abbott: (802) 377-7762 or abbott@middlebury.edu.

JIPNER HOME INSPECTIONS, LLC A HOME INSPECTION SERVICE COMPANY

Inspecting fine homes since 2000

VAUGHN JIPNER

LICENSED, INSURED & CERTIFIED

(802) 373-4123

jipnerinspections@gmail.com JIPNERHOMEINSPECTIONS.COM Easy to read computerized electronic reports — PDF Format. 8BUFS 5FTUJOH r 3BEPO JO "JS 5FTUJOH

á  (Base  Spending)  8,723  =  1.85246 Rate  becomes:  (District  spending  adjustment)  1.85246  x  (Base  rate)  $0.89) á  CLA If  the  CLA  is  85%,  the  homestead  rate  is:  (District  spending  adjustment)  1.85246  x  (Base  Rate)  $0.89) á  (CLA)  .85 =  $1.9396 In  this  example,  the  excess  spending  adjust-­ ment  adds  about  7  cents  to  the  homestead  rate. 0\ WRZQ LV FRPSOHWLQJ D UHDSSUDLVDO IRU WKH $SULO JUDQG OLVW 8VLQJ WKH FRP-­ PRQ OHYHO RI DSSUDLVDO WR DGMXVW WKH WD[ UDWHV GRHVQÂśW VHHP IDLU 2XU FRPPRQ OHYHO RI DS-­ SUDLVDO ZDV EDVHG RQ ODVW \HDUÂśV JUDQG OLVW 7KH WD[ ELOOV IRU WKLV \HDU ZLOO XVH D JUDQG OLVW WKDW LV DW RI PDUNHW YDOXH :LOO WKH WD[ UDWHV EH DGMXVWHG WR DFFRXQW IRU UHDS-­ SUDLVDOV" Yes.  In  those  towns  that  have  reappraised  for  2012,  the  common  level  of  appraisal  used  to  calculate  the  rates  will  be  the  ratio  of  the  reap-­ praised  2012  education  grand  list  to  the  equal-­ L]HG HGXFDWLRQ JUDQG OLVW FHUWLÂżHG -DQXDU\ 2012.  The  Director  of  PVR  is  charged  by  statute  with  determining  whether  a  reappraisal  has  oc-­ curred  that  warrants  a  new  CLA.. 7RZQV DOVR OHY\ WD[HV IRU KLJKZD\V DQG RWKHU PXQLFLSDO VHUYLFHV $UH WKHUH GLIIHUHQW UDWHV IRU KRPHVWHDG DQG QRQUHVLGHQWLDO SURS-­ HUWLHV" No.  Municipal  taxes  that  pay  for  highways  and  other  municipal  services  are  levied  on  the  municipal  grand  list.  With  the  exception  of  the  few  communities  that  have  different  rates  in  ac-­ cord  with  their  charter,  municipal  taxes  are  not Â

VXEMHFW WR WD[ FODVVLÂżFDWLRQ The  selectboard  determines  the  amount  to  be  UDLVHG IURP WD[HV DQG GLYLGHV WKDW ÂżJXUH E\ WKH total  municipal  grand  list  established  by  the  list-­ ers.  There  is  no  adjustment  for  the  common  level  of  appraisal  as  there  is  no  need  to  adjust  the  mu-­ nicipal  values  to  a  single  point  in  time.  This  is  not  a  state  tax  requiring  equalization  across  towns. ,W VD\V RQ PDWHULDO ZLWK P\ WD[ ELOO WKDW VRPH SHRSOH DUH DEOH WR SD\ WKHLU HGXFDWLRQ WD[ EDVHG RQ LQFRPH UDWKHU WKDQ RQ WKH YDOXH RI WKHLU SURSHUW\ +RZ GRHV WKDW ZRUN" There  is  a  property  tax  adjustment  worksheet  on  the  Tax  Department  website.  It  can  used  to  estimate  the  property  tax  adjustment  credit.  Visit  the  link  below: www.state.vt.us/tax/propertyadj.shtml 7KH FODVVLÂżFDWLRQ RI SURSHUW\ DV KRPHVWHDG assures  that  a  Vermont  resident  will  not  pay  more  than  the  statutorily  established  percent-­ age  of  household  income  for  property  taxes  on  his  or  her  housesite  (house  and  up  to  two  acres).  The  difference  between  the  taxpayer’s  property  tax  bill  and  the  property  tax  based  on  house-­ hold  income  is  paid  by  the  State  in  the  form  of  a  property  tax  adjustment  credit.  The  money  is  paid  directly  to  the  Town.  The  Town  then  is-­ sues  the  homeowner  a  property  tax  bill  for  the  net  due.  The  property  tax  adjustment  calculation  uses  prior  year  household  income  and  prior  year  property  taxes. :KR GR , FRQWDFW LI , QHHG PRUH LQIRUPD-­ WLRQ" Call  the  Taxpayer  Services  Division  at  802-­ 828-­2865  or  toll  free  in  Vermont  at  866-­  828-­ 2865. You  can  also  send  e-­mail  to:  schooltax@state. vt.us.

BillBeck.com CURIOUS ABOUT THE MARKET? Much has been written about the real estate market over the past five years. While the number of sales has decreased, values in Vermont have not decreased by double digits as they have in other parts of the country. If you would like a CURRENT MARKET EVALUATION of your property reflecting recent sales in Addison County, please contact us to schedule a complimentary analysis with no obligation. Coldwell  Banker

Bill  Beck  Real  Estate

802-­388-­7983 Email:  cbbeckre@sover.net

PAGE 16 — A Special Publication of The Addison Independent, Monday, July 9, 2012

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