Title 32, Taxation and Finance

§ 3603. Construction equipment (a) Construction equipment and other personal estate used in the construction or repair of highways, dams, reservoirs, public utilities, or buildings shall be listed and taxed on the same basis as other personal estate in the town in which it is loc…

§ 3604. Mines and quarries The interest of a grantee in severance from surface ownership in mines, quarries, or the right of mining and quarrying, shall be set in the list as real estate, but this section shall not apply to leases named in section 3609 of this title.

§ 3605. Water rights The interest of an owner in water rights, power rights, and flowage rights, or any of such rights, owned by severance from real estate interests set in the grand list to another and in connection with which such rights exist, shall be appraised and set in the…

§ 3606. Standing timber The sale or conveyance of standing timber shall not affect the valuation of the underlying land. (Amended 1997, No. 71 (Adj. Sess.), § 7c, eff. Jan. 1, 1998.)

§ 3607. Orchard lands When the owner of land, cultivated or uncultivated, has planted the same to fruit trees, such land shall continue to be set in the list at the same valuation as similar land not so planted, but that is used for general agricultural purposes. Increase in the …

§ 3607a. Barns, silos, and other farm structures Barns, silos, sugarhouses, and bunkers used for silage storage shall be entered in the grand list at fair market value as defined in subdivision 3481(1) of this title, except that by a majority vote of those present and voting at a…

§ 3608. Buildings on leased land Buildings on leased land or on land not owned by the owner of the buildings shall be set in the list as real estate.

§ 3609. Perpetual or redeemable leases Perpetual or redeemable leases upon which rent is reserved, except of lands exempt from taxation, shall have an appraisal value as personal estate at a sum of which the rent is six percent. (Amended 1965, No. 45.)

§ 3610. Taxation of perpetual leased lands (a) The term “perpetual lease” as used in this section includes every leasehold interest in land located in Vermont, and every estate in Vermont land other than fee simple absolute, arising out of or created by an instrument of lease tha…

§ 3611. Assessment against State easements for flood control projects Lands over which the State has acquired or reserved an easement of flowage in the completion of its flood control projects shall be set in the grand list of the town to the owners thereof subject to such easeme…

§ 3612. Owner’s improvements In the event improvements shall be put on such land after acquisition of an easement of flowage by the State of Vermont in the completion of its flood control projects, such improvements shall be set in the grand list to the then owner of the land but…

§ 3613. Appeal [Effective January 1, 2031; see also § 3613 effective until January 1, 2031, set out above] The State of Vermont shall have the same right to appeal from the appraisal of the listers and assessors and from the decision of the regional assessment district appeals bo…

§ 3614. Property on federal land Property of a railway or other corporation having a right-of-way over or location upon lands acquired by the United States shall be taxed as other similar property.

§ 3618. Business personal property (a) If a town does not vote to exempt business personal property under section 3849 of this title, such property shall be appraised at fair market value; or, subject to a majority vote of those present and voting at an annual or special meeting …

§ 3619. Time-share projects (a) As used in this section, a time-share project means a project involving real property containing time-share estates. A “time-share estate” is a right to occupy a unit or any of several units in a time-share project during separated time periods cou…

§ 3620. Electric utility poles, lines, and fixtures Electric utility poles, lines, and fixtures owned by nonmunicipal utilities shall be taxed at appraisal value as defined by section 3481 of this title, except as provided under subdivision 3802(19) of this title. (Added 1985, No…

§ 3621. Petroleum and natural gas infrastructure For purposes of the statewide education property tax in chapter 135 of this title, the Director shall determine the appraised value of all property and fixtures composing and underlying a petroleum or natural gas facility, petroleu…

§ 3651. General rule [Effective July 1, 2031; see also § 3651 effective until July 1, 2031, set out above] Taxable real estate shall be set in the list to the last owner or possessor thereof on January 1 in each year in the town, village, school, and fire district where it is sit…

§ 3652. Mortgagor deemed owner When real estate is mortgaged, the mortgagor shall be deemed the owner thereof for the purpose of taxation, until the mortgagee takes possession, after which the mortgagee shall be deemed the owner.

§ 3653. Unoccupied and owner unknown When the owner of unoccupied real estate is unknown to the listers, it shall be set in the list in the name of the original grantee or by such other description as in their judgment will best designate it. When a division of the original right…

§ 3654. Undivided estate of deceased person Undivided real estate of a deceased person shall be assessed to such person’s estate or to his or her executor or administrator, or to the possessor thereof, until notice is given to the listers of the sale or division of the same and t…

§ 3655. Facilities not within town limits For the purpose of taxation: (1) Wharves erected in Lake Champlain and not within the limits of a town shall be considered as being in the towns adjoining such wharves. (2) Utility lines, including submarine cables or pipelines, construct…

§ 3659. Municipal lands Land and buildings of a municipal corporation, whether acquired by purchase or condemnation and situated outside its territorial limits shall be taxed by the municipality in which such land is situated. Said land shall be set to such municipal corporation …

§ 3691. General rule [Effective July 1, 2031; see also § 3691 effective until July 1, 2031, set out above] Taxable tangible personal estate shall be set in the list to the last owner thereof on January 1 in each year, in the town, village, school, and fire district where such pro…

§ 3692. Taxation of boats, outboard motors, and trailer coaches (a) Except as otherwise provided, snowmobiles, trailer coaches as defined by 23 V.S.A. § 4 registered yearly for use on the highways and designed and used for recreational purposes except as provided by subsection (b…

§ 3701. Definitions As used in this subchapter: (1) “State-owned property” means (A) State-owned buildings, including buildings of the Vermont State Colleges that are tax-exempt under 16 V.S.A. § 2178; buildings of the University of Vermont and State Agricultural College used for…

§ 3702. Payment of grants authorized The Secretary of Administration shall determine annually the amount of payment due, as a State grant in lieu of property taxes, to each municipality in the State in which is located any State-owned property, in accordance with the provisions o…

§ 3703. Grant formula (a) The amount of a grant to a municipality authorized by this subchapter shall be based on the total assessed value of any State-owned property located in the municipality, multiplied by the common level of appraisal for the municipality as determined by th…

§ 3704. Determination of assessed values; appeal (a) Prior to August 1, 1997, and to May 1 of each taxable year thereafter, the Secretary of Administration shall provide assessed values of State buildings and lands, as defined under this subchapter, to every municipality to which…

§ 3705. Adjusted municipal grand list and adjusted municipal tax rate (a) Prior to October 1 in each taxable year, the Division of Property Valuation and Review shall provide the Secretary of Administration with the following: (1) the adjusted municipal grand list for the prior a…

§ 3706. Payment to municipalities Grants under this subchapter shall be made annually by the Secretary of Administration to each eligible municipality on or before December 1, 1997, and on or before October 31 in years thereafter. Nothing in this subchapter shall be construed or …

§ 3707. Rules The Secretary of Administration may adopt rules under 3 V.S.A. chapter 25 to carry out the provisions of this subchapter. (Added 1997, No. 60, § 53.)

§ 3708. Payments in lieu of taxes for lands held by the Agency of Natural Resources (a) As used in this subchapter: (1) “ANR land” means lands held by the Agency of Natural Resources. (2) “Fair market value” shall be based upon the value of the land at its highest and best use de…

§ 3709. PILOT Special Fund (a) There is hereby established a PILOT Special Fund consisting of local option tax revenues paid to the State Treasurer pursuant to 24 V.S.A. § 138. This Fund shall be managed by the Commissioner of Taxes pursuant to chapter 7, subchapter 5 of this tit…

§ 3710. Municipal Grand List Stabilization Program (a) There is established the Municipal Grand List Stabilization Program within the Department of Taxes to reimburse municipalities for municipal property taxes assessed under chapter 133 of this title for flood-prone properties a…