Vermont § 5404 - Determination of education property tax grand list

§ 5404. Determination of education property tax grand list

• (a) Municipalities shall determine the education property tax grand list by calculating
  one percent of the listed value of nonhomestead and homestead real property as provided
  in this section. The listed value of all nonhomestead and homestead real property
  in a municipality shall be its fair market value, its value established under a stabilization
  agreement described in section 5404a of this title, or the use value of property enrolled in a Use Value Program under chapter 124 of
  this title. If a homestead is located on a parcel of greater than two acres, the entire
  parcel shall be appraised at fair market value; the housesite shall then be appraised
  as if it were situated on a separate parcel, and the value of the housesite shall
  be subtracted from the value of the total parcel to determine the value of the remainder
  of the parcel. (b) Annually, on or before August 15, the clerk of a municipality, or the supervisor of
  an unorganized town or gore, shall transmit to the Director in an electronic or other
  format as prescribed by the Director education and municipal grand list data, including
  exemption information and grand list abstracts; tax rates; an extract of the assessor
  database also referred to as a Computer Assisted Mass Appraisal (CAMA) system or Computer
  Assisted Mass Appraisal database; and the total amount of taxes assessed in the town
  or unorganized town or gore. The data transmitted shall identify each parcel by a
  parcel identification number assigned under a numbering system prescribed by the Director.
  Municipalities may continue to use existing numbering systems in addition to, but
  not in substitution for, the parcel identification system prescribed by the Director.
  If changes or additions to the grand list are made by the listers or other officials
  authorized to do so after such abstract has been so transmitted, such clerks shall
  forthwith certify the same to the Director. (c) If a town clerk or the legislative body fails without good cause, as determined by
  the Commissioner, to transmit the grand list data or the tax data in a timely manner
  and in the format required by the Director, the Commissioner shall notify the Secretary
  of Transportation and the Secretary of Education, who shall withhold all general and
  other aid payments owing to the municipality until the grand list information is filed
  as required by the Director under subsection (b) of this section. Federal funds are
  exempt from withholding if either Secretary has an opinion of counsel that withholding
  would be a violation of federal law. (d) Municipalities shall include, on all property tax bills, the parcel identification
  number prescribed in subsection (b) of this section. (Added 1997, No. 60, § 45, eff. Jan. 1, 1998; amended 2003, No. 68, § 29, eff. June 18, 2003; 2009, No. 160 (Adj. Sess.), § 5, eff. June 4, 2010; 2013, No. 92 (Adj. Sess.), § 286, eff. Feb. 14, 2014; 2025, No. 69, § 6, eff. July 1, 2025.)