Overview of Vermont

State Funds Budget Data

• Estimated 2023 State Funds Budget ($ Billions): $4.59
• Budget Limit ($ Billions): $4.85
• Budget Limit Growth ($ Billions): 5.68%
• Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $882.87
• Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $3,531
• Cumulative cost per person of budgeting more than pop+inf over the last decade: $4,217.10
• Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $16,868.42

State All Funds Budget Data

• Estimated 2023 All Funds Budget ($ Billions): $8.05
• Budget Limit ($ Billions): $8.51
• Budget Limit Growth ($ Billions): 5.68%
• Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $366.90
• Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $1,467.62
• Cumulative cost per person of budgeting more than pop+inf over the last decade: $1,268.07
• Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $5,072.28

Other Considerations

• Economic Freedom (2020) (Rank): 47 [Fraser Institute]
• State Tax Collections Per Capita (FY2021) ($): $6,356 [Tax Foundation]
• State Tax Collections Per Capita (FY2021) (Rank): 1 [Tax Foundation]
• State-Local Total Tax Burden per Capita (2022) ($): $7,958 [Tax Foundation]
• State-Local Tax Burden per Capita (2022) (%): 13.60% [Tax Foundation]
• State-Local Tax Burden per Capita (2022) (Rank): 47 [Tax Foundation]
• Top Income Tax Rate (2023) (%): 8.75% [Tax Foundation]
• Top Income Tax Rate (2023) (Rank): 28 [Tax Foundation]
• Flat or Progressive Income Tax (2023) (Flat/Progressive/Zero): P [Tax Foundation]
• Overall State Business Tax Climate Index (2023)(Rank): 44 [Tax Foundation]
• Corporate Income Top Tax Rate (2023) (%): 8.50% [Tax Foundation]
• Corporate Income Top Tax Rate (2023) (Rank): 9 [Tax Foundation]
• State-Local Sales Tax Rate (2023) (%): 6.30% [Tax Foundation]
• State-Local Sales Tax Rate (2023) (Rank): 35 [Tax Foundation]
• Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 1.83% [Tax Foundation]
• Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 4 [Tax Foundation]
• Tax and Expenditure Limit (0-3): 0 [American Legislative Exchange Council]
• Tax and Expenditure Limit (Rank): 32 [American Legislative Exchange Council]
• Right-to-Work Law (2022) (Y/N): N [American Legislative Exchange Council]
• State-Local Spending per Capita (2022) ($): $16,518 [US Government Spending]
• State-Local Spending per Capita (2022) (Rank): 44 [US Government Spending]
• Official Poverty Rate (2020-22) (%): 8.4 [Census Bureau]
• Official Poverty Rate (2020-22) (Rank): 8 [Census Bureau]
• Supplemental Poverty Rate (2020-22) (%): 7.6 [Census Bureau]
• Supplemental Poverty Rate (2020-22) (Rank): 17 [Census Bureau]
• Labor Force Participation Rate (Dec. 2022) (%): 63.40% [Bureau of Labor Statistics]
• Labor Force Participation Rate (Dec. 2022) (Rank): 22 [Bureau of Labor Statistics]