Tax Stabilization For New Distillery

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st. j distillery logoST. JOHNSBURY - The town of St. Johnsbury will be seeing a new Distillery open its doors by the projected time period of the end of this summer. The building that they will be moving into for business was the old hardware shop just off of Pearl Street; however Celtic Marketing, the firm that owns the St. Johnsbury Distillery, is making major upgrades to the building.

During these major upgrades, the property value to the building is going up, this is of course due to the upgrades being made to the building, driving up the property value.

 

As an extension of good will, the select board for the town of St. Johnsbury is extending a stabilization hold on the tax rate to the Distillery for this period of time that they are making upgrades to the building. This will keep the tax rate from going up for a period of time, and will ensure that Celtic Marketing does not pay more and more each month as they renovate the Distillery building. 

The Town Manager for St. Johnsbury, Chad Whitehead, explained that this tax stabilization is to help out a new business for the area. "The St. Johnsbury Distillery has been making huge strides in preparing to open to the general public, but as they continue to upgrade and renovate their new building, the tax rate for the building will increase as the property value goes up. We will give them a stabilization on their taxes until they open for business, so that their payments don't go up before they can start turning a profit for thier business which is sure to be a great addition to the area."