Vermont § 5401 - Definitions As used in this chapter:

§ 5401. Definitions As used in this chapter:

• (1) “Coefficient of dispersion” is the average absolute deviation expressed as a percentage
  of the median ratio, and for a municipality in any school year shall be determined
  by the Director of Property Valuation and Review as follows: (A) calculate the ratio of the listed value to the fair market value of each property
  used in determining the equalized education property value of the municipality as
  required by section 5406 of this title; (B) determine the median of the ratios calculated in subdivision (A) of this subdivision
  (1); (C) determine the absolute deviation of each ratio from the median ratio calculated in
  subdivision (B) of this subdivision (1); and (D) calculate the average absolute deviation. (2) “Commissioner” means the Commissioner of Taxes. (3) “Common level of appraisal” means the ratio of the aggregate value of local education
  property tax grand list to the aggregate value of the equalized education property
  tax grand list. (4) “Director” means the Director of Property Valuation and Review. (5) “Education property tax grand list” means the list of property determined pursuant
  to section 5404 of this title. When the listed value of real property for school tax purposes is credited by a
  board of civil authority or a court, that board or court shall make a corresponding
  credit to the listed value for purposes of taxation under this chapter. (6) “Equalized education property tax grand list” means one percent of the aggregate fair
  market value of all nonhomestead and homestead property that is required to be listed
  at fair market value as certified during that year by the Director of Property Valuation
  and Review under section 5406 of this title, plus one percent of the aggregate value of property required to be listed at a value
  established under a stabilization agreement described under section 5404a of this title, plus one percent of the aggregate use value established under chapter 124 of this
  title of all nonhomestead property that is enrolled in the use value appraisal program. (7) “Homestead”: (A) “Homestead” means the principal dwelling and parcel of land surrounding the dwelling,
  owned and occupied by a resident individual as the individual’s domicile or owned
  and fully leased on April 1, provided the property is not leased for more than 182
  days out of the calendar year or, for purposes of the renter credit under subsection 6066