Vermont § 5136 - Interest on overdue taxes

§ 5136. Interest on overdue taxes

• (a) When a municipality votes under an article in the warning to collect interest on overdue
  taxes, such taxes, however collected, shall be due and payable not later than December
  1 and shall bear interest at the rate of not more than one percent per month or fraction
  thereof, for the first three months and thereafter one and one-half percent per month
  or fraction thereof, from the due date of such tax. Such interest shall be imposed
  on a fraction of a month as if it were an entire month. A municipality having so voted
  to collect interest as hereinbefore provided, and the amount thereof, shall thereafter
  collect such interest each year until the municipality shall vote otherwise at a meeting
  duly warned for the purpose of voting on such question. (b) Whenever a municipality votes to collect interest on overdue taxes pursuant to this
  section, interest in like amount shall be paid by the municipality to any person making
  any overpayment of taxes occurring as a result of a redetermination of the grand list
  of the taxpayer on appeal provided by chapter 131 of this title. (Amended 1973, No. 86, § 3, eff. for the tax year beginning April 1, 1974, and thereafter; 1981, No. 133 (Adj. Sess.), § 4, eff. April 2, 1982 for tax year beginning April 1, 1982, and thereafter; 1997, No. 50, § 12, eff. June 26, 1997.)