Vermont § 3703 - Grant formula

Full text of Vermont Vermont Statutes Online § 3703 — Grant formula, with citation guidance and answers to common questions.

§ 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
    the Division of Property Valuation and Review, multiplied by one percent, and multiplied
    by the adjusted municipal tax rate for the municipality in which the property is located. (b) [Repealed.] (c) The total of any grants under subsection (a) of this section for buildings owned by
    the University of Vermont and State Agricultural College shall be limited to a maximum
    of $750,000.00. (d) [Repealed.] (e) The Secretary of Administration shall have authority to reduce any payments under
    this subchapter to avoid multiple payments to a municipality in the same year in lieu
    of taxes with respect to the same property. (Added 1997, No. 60, § 53; amended 1997, No. 71 (Adj. Sess.), § 26, eff. July 1, 1997; 1999, No. 1, § 106b, eff. March 31, 1999.)

Related Vermont Legal Topics

Frequently Asked Questions About Vermont § 3703

What does Vermont Statutes Online § 3703 cover?

Section 3703 ("Grant formula") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Vermont § 3703?

A common citation format is "Vermont Statutes Online § 3703" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Vermont law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.

How does Vermont § 3703 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.