New Report Lays Out Vermont Education Funding Facts

FOR IMMEDIATE RELEASE:
October 15, 2010

MONTPELIER—A new, easy-to-read report by Public Assets Institute lays out some often overlooked facts about education spending in Vermont. As measured against the overall economy, for example, the report shows that education costs have been remarkably stable since the early 1990s, not out of control as many have asserted. The report also points out that middle income Vermonters who pay school taxes based on their income are still paying more than their wealthier neighbors who pay based on the value of their property.

“Education is one of the most important things we do as a society, and education funding will always be an important subject of public debate,” said Paul Cillo, president of Public Assets Institute. “This report looks at the data and lays out the facts about funding for education in Vermont. This information contradicts common misperceptions of skyrocketing education spending and wasteful school boards.”

The new report presents brief capsules of information about education and education funding. It shows, for example, how much school boards have slowed the school spending growth in recent years. School spending for this year is actually lower than it was in fiscal 2010.

“Many Vermonters will no doubt be surprised to learn that education spending dropped this year because many of them have seen their property taxes rise,” Cillo said. “The problem is not with local school boards, but in Montpelier, where the administration and Legislature have cut General Fund support for education and shifted more of the cost onto the property tax.”

Public Assets Institute is a nonprofit, nonpartisan organization that promotes sound budget and tax policies to benefit all Vermonters. Additional information is available at www.publicassets.org

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