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Searching 2017-2018 Session

The Vermont Statutes Online

Title 24 Appendix : Municipal Charters

Chapter 003 : CITY OF BURLINGTON

Subchapter 004 : TAXATION

(Cite as: 24 App. V.S.A. ch. 3, § 81)
  • § 3-81. Tax classification; repeal of inventory tax

    (a) Except for the property of utilities subject to the provisions of 30 V.S.A. chapter 3, all personal and real property set out in the grand list which is not used as residential property, farmland, and vacant land zoned "recreation, conservation and open space (RCO)", shall be classified as nonresidential property and shall be assessed at 120 percent of fair market value; and further provided that inventories and personal property belonging to an owner whose total personal property does not exceed the fair market value of $45,000,00 shall no longer be set out in the grand list of the City as taxable personal estate. Properties upon which in-lieu-of-tax payments are made shall be likewise classified and assessed for the purposes of such payments.

    (b) For the purposes of this section, "residential property" is hereby defined to include all property used for dwelling purposes including accessory property which is subordinate to or customarily incidental to the main residential use such as garages and outbuildings. Where a property is used for both residential and nonresidential purposes, then it shall be apportioned according to such uses and then classified and assessed as herein provided. Notwithstanding the foregoing, for the sole purpose of calculating the educational grand list and for the assessment of property taxes for education purposes under Act 60, so-called, as the same may be amended from time to time, all nonresidential properties as above defined shall be assessed at 100 percent of fair market value. (Amended 1999, No. M-9, § 2, eff. June 1, 1999; 2011, No. M-12 (Adj. Sess.), § 2, eff. May 3, 2012.)