Title 32, Taxation and Finance

§ 3326. Cost-benefit model (a) The Council shall adopt and maintain a cost-benefit model for assessing and measuring the projected net fiscal cost and benefit to the State of proposed economic development activities. (b) The Council shall not modify the cost-benefit model without…

§ 3330. Purpose; form of incentives; enhanced incentives; eligible applicant (a) Purpose. The purpose of the Vermont Employment Growth Incentive Program is to generate net new revenue to the State by encouraging a business to add new payroll, create new jobs, and make new capital…

§ 3331. Definitions As used in this subchapter: (1) “Award period” means the consecutive five years during which a business may apply for an incentive under this subchapter. (2) “Base employment” means the number of full-time Vermont jobs held by non-owner employees as of the dat…

§ 3332. Application; approval criteria (a) Application. (1) A business may apply for an incentive in one or more years of an award period by submitting an application to the Council in the format the Council specifies for that purpose. (2) For each award year the business applies…

§ 3333. Calculating the value of an incentive Except as otherwise provided for an enhanced incentive for a business in a qualifying labor market area under section 3334 of this title or an enhanced incentive for an environmental technology business under section 3335 of this titl…

§ 3334. Enhanced incentive for a business in a qualifying labor market area (a) The Council may increase the value of an incentive for a business that is located in a labor market area in which: (1) the average annual unemployment rate is greater than the average annual unemploym…

§ 3335. Enhanced incentive for environmental technology business (a) As used in this section, an “environmental technology business” means a business that: (1) is subject to income taxation in Vermont; and (2) seeks an incentive for economic activity in Vermont that the Secretary…

§ 3337. Earning an incentive (a) Earning an incentive; installment payments. (1) A business with an approved application earns the incentive specified for an award year if, within the applicable time period provided in this section, the business: (A) maintains or exceeds its base…

§ 3338. Claiming an incentive; annual filing with Department of Taxes (a) On or before April 30 following each year of the utilization period, a business with an approved application shall submit an incentive claim to the Department of Taxes. (b) A business shall include: (1) the…

§ 3339. Recapture; reduction; repayment (a) Recapture. (1) The Department of Taxes may recapture the value of one or more installment payments a business has claimed, with interest, if: (A) the business fails to file a claim as required in section 3338 of this title; (B) during t…

§ 3340. Reporting (a) On or before September 1 of each year, the Vermont Economic Progress Council and the Department of Taxes shall submit a joint report on the incentives authorized in this subchapter to the House Committees on Ways and Means, on Commerce and Economic Developme…

§ 3341. Confidentiality of proprietary business information (a) The Vermont Economic Progress Council and the Department of Taxes shall use measures to protect proprietary financial information, including reporting information in an aggregate form. (b) Information and materials s…

§ 3342. Annual program cap (a) In each calendar year the Vermont Economic Progress Council may approve one or more incentives under this subchapter, the total value of which shall not exceed: (1) $10,000,000.00 for one or more initial approvals; and (2) $5,000,000.00 for one or m…

§ 3401. Powers and duties of Director The Director may examine any inventory in the hands of listers, shall from time to time confer and advise with them touching their official duties, shall furnish them printed instructions and directions relating to their official duties, and …

§ 3402. Director to collect data The Director shall collect such data and information touching methods of taxation and exemption and the work of listers in the various towns as the Director shall deem advisable. (Amended 1977, No. 105, § 14(a); 2021, No. 105 (Adj. Sess.), § 509, …

§ 3411. Powers of the Division of Property Valuation and Review The Division of Property Valuation and Review shall through its Director: (1) employ such staff as is necessary, subject to the approval of the Commissioner of the Department of Taxes; (2) cooperate fully with the Co…

§ 3412. Annual report Before January 15 of each year, the Director shall deliver to the Speaker of the House of Representatives and to the President Pro Tempore of the Senate copies of an annual report including in that report all rules issued in the preceding year. The report sh…

§ 3415. Legislative intent [Effective January 1, 2031] It is the intent of the General Assembly in adopting this subchapter to create regional assessment districts so that: (1) properties on grand lists are regularly reappraised; (2) property data collection is consistent and sta…

§ 3416. Regional assessment districts; establishment [Effective January 1, 2031] (a) Member municipalities of a regional assessment district shall fully reappraise their grand lists every six years pursuant to subsection 3417(b) of this subchapter. Member municipalities may contr…

§ 3417. Standard guidelines; procedures; rulemaking [Effective January 1, 2031] (a) The Director of Property Valuation and Review shall establish standard guidelines and procedures, and may adopt rules, for regional assessment districts, including: (1) guidelines for contracting …

§ 3418. Regional Assessment District Appeals Board; establishment [Effective January 1, 2031] (a) There are hereby established regional assessment district appeals boards for each regional assessment district established pursuant to section 3416 of this subchapter. A board shall …

§ 3419. Appeals to Regional Assessment District Appeals Board [Effective January 1, 2031] (a) Within 30 days following the date of notice, a person aggrieved by the final valuation decision of an assessing official may appeal in writing to the district’s regional assessment distr…

§ 3420. Appeals to Commissioner or to Superior Court [Effective January 1, 2031] (a) A taxpayer or the legislative body of a municipality aggrieved by a written determination of a regional assessment district appeals board under section 3419 of this chapter, or a taxpayer aggriev…

§ 3431. Lister’s oath (a) Each lister shall take and subscribe and file in the town clerk’s office, before entering upon the duties of his or her office, the following oath; and the oath as subscribed shall be recorded in the town clerk’s office: “I, _______ , do solemnly swear (…

§ 3432. Duties of listers Listers shall render such assistance, give such information, and make such returns to the Director in relation to the subject of taxation as he or she may require. (Amended 1977, No. 105, § 14(a).)

§ 3433. Duties upon taking up inventories A lister who takes up an inventory as provided by section 4041 of this title, at the time he or she receives the same, shall indorse thereon his or her name and the date of its receipt. When a lister accepts the inventory of a person not …

§ 3434. Meetings for instruction The Director shall call meetings of the listers to be held at such places and at such times as he or she shall designate for the purpose of instruction touching the requisites of a legal tax inventory, a valid grand list, the law governing their o…

§ 3435. Listers to attend meetings for instructions Except as otherwise provided in this section, at least one lister, or more if the town so votes, shall attend all meetings or schools for instruction to which they are summoned in writing by the Director. When a lister is unable…

§ 3436. Assessment education (a) The Director shall certify assessment education programs for municipal listers and assessors at convenient times and places during the year and is authorized to contract with one or more persons to provide part or all of the assessment instruction…

§ 3461. Report by village clerk Annually, on or before July 15, school and fire district clerks and clerks of incorporated villages shall make and deliver to the town clerk a statement of taxes assessed by such districts and villages during the year ending June 30 preceding, givi…

§ 3464. Failure to file reports An appraiser; town, school, or fire district clerk; or county treasurer who fails to perform the duties imposed upon him or her by this subchapter shall be fined $20.00.

§ 3465. Public records; CAPTAP Notwithstanding any provision to the contrary in 1 V.S.A. § 317, section 3102 of this title, this chapter, or any other provision of law, information maintained by the Division of Property Valuation and Review obtained from local governments partici…

§ 3481. Definitions The following definitions shall apply in this Part and chapter 101 of this title, pertaining to the listing of property for taxation: (1)(A) “Appraisal value” shall mean, with respect to property enrolled in a use value appraisal program, the use value apprais…

§ 3482. Property listed at one percent [Effective July 1, 2031; see also § 3482 effective until July 1, 2031, set out above] Except as otherwise provided, all real and personal estate shall be set in the list at one percent of its listed value on January 1, of the year of its app…

§ 3483. False statement, perjury A person who willfully swears falsely or who willfully makes a false statement under the pains and penalties of perjury in violation of any of the provisions of this Part shall be guilty of perjury and punished accordingly.

§ 3484. Furnishing names to listers (a) On application of a lister in the performance of his or her duties, keepers of hotels, boarding, and dwelling houses shall give the names of all persons residing in their respective houses. When such keeper refuses to give such information,…

§ 3485. Records to be kept relating to deeds and mortgages (a) Annually on April 1, town clerks shall furnish the listers with copies of the property tax returns filed by the clerk under section 9610 of this title relating to deeds that were filed for record during the year endin…

§ 3602. Manufacturing machinery Engines and boilers, electric motors, air compressors, traveling cranes, and machinery, so fitted and attached as to be a part of a manufacturing or other plant and kept and used as such, shall be set in the grand list as real estate.

§ 3602a. Facilities used in the generation, transmission, or distribution of electric power All structures, machinery, poles, wires, and fixtures of all kinds and descriptions used in the generation, transmission, or distribution of electric power that are so fitted and attached …

§ 3602b. Communications property (a) All communications property shall be set in the grand list as real estate. (b) Communications property owned by a nonmunicipal communications service provider shall be taxed at appraisal value as defined in section 3481 of this title. (c) As u…

§ 3602c. Valuations; public utilities [Effective January 1, 2031] (a) On or before May 1 of each year, the Division of Property Valuation and Review of the Department of Taxes shall furnish the listers in each town or city with the valuation of all taxable property of any public …

§ 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 …