
The town of Killington tax reassessment is looming large over the local real estate market. Preliminary valuation letters were distributed to real estate owners
in early March, and an audible gasp was heard across town. The last time real estate values were officially assessed was 2011, and a LOT has changed since then. It is not unusual if the updated value is more than 2X or 3X the previous amount. The impact on tax bills is still unknown and is pending approval of the town budget, which did not pass at the March Town Meeting and needs to be re-voted. Additionally, property owners were offered the opportunity to have their new assessments reviewed at a meeting with a representative from the firm responsible for the valuation. Results of those meetings are still pending. It is likely property owners will not know the impact of the reassessment on their 2026/2027 tax bills until June.
In the meantime, the real estate market is in somewhat of a holding pattern.
The tax reassessment and corresponding tax bills may incent property owners to list their homes, potentially increasing inventory and putting pressure on prices. Buyers are showing patience, awaiting the tax change impact.
Continue reading here.
Enter your name and email to receive our newsletter, so you can stay in the loop with our latest updates on the Killington real estate market.
Enter your email to receive our newsletter, so you can stay in the loop with our latest Killington Real Estate Updates.