The Vermont Statutes Online
Subchapter 004 : BUDGETS AND FINANCE(Cite as: 24 App. V.S.A. ch. 149, § 51)
§ 149-51. Taxation and collection
(a) Authority for taxation:
(1) The Town shall retain rights of taxation as afforded by State statute related to real estate and personal property.
(2) The Board of Selectman shall be the tax authority for all Town and school functions and shall fix all rates of taxation as limited by charter and statute.
(b) Responsibility for taxation and collection:
(1) The Town Treasurer shall be responsible for tax collection.
(2) The Board of Selectman shall designate the Collector of Delinquent Taxes.
(3) The Collector of Taxes or Delinquent Taxes may charge and collect such fees as may be fixed by the Board of Selectman and shall deposit them in the General Fund. Fees established shall not exceed those provided by statute.
(c) Manner of collection:
(1) The timetable of tax collection in terms of due dates and installments shall be fixed by the Town Treasurer.
(2) Delinquent taxes shall be administered in accordance with State statute.
(d) Tax abatement: Tax abatement shall be administered in accordance with State statute.
(e) Tax stabilization:
(1) Authority to negotiate and grant tax stabilization agreements shall be granted and revoked by the voters.
(2) The Board of Selectman shall negotiate all stabilization agreements.
(3) Under this section, the Board of Selectman shall draft uniform guidelines outlining the scope and nature of tax stabilization agreements.
(4) The Board of Selectman shall confer with the School Board on stabilization related matters, but shall retain final authority on stabilization agreements.
(f) Special assessments:
(1) The Board of Selectman shall have the authority to negotiate or impose by ordinance, reasonable special assessments or special use charges.
(2) The procedures for each special assessment must be outlined and authorized by an ordinance explaining the reason for the assessment, the amounts and basis for the amounts, the collection of the assessments, and all other matters related to the assessment.
(g) Tax classification; special nonresidential property tax; repeal of inventory tax:
(1) For purposes of this section:
(A) All real and personal property, other than inventory, that is not classified in the grand list as residential property, a farm, or vacant land shall be classified as commercial, industrial, utilities (electric), utilities (other), or equipment, and shall be collectively classified as "special nonresidential property." Special nonresidential property does not include property used for dwelling or farm purposes or accessory property which is subordinate to or customarily incidental to the main residential or farm use, such as garages and out buildings.
(B) "1996 minimum grand list value" means the aggregate grand list value of special nonresidential property and inventory on January 1, 1996.
(C) "Special tax" means the additional tax on special nonresidential property and inventory authorized by this section.
(2) Beginning with the January 1, 1997 grand list, the inventory tax shall be phased-out over a period of five years and real and personal property shall be taxed as provided in this section.
(3) For purposes of calculating the property tax rate, the aggregate grand list value of special nonresidential property and inventory shall be the aggregate grand list value of such property and inventory as calculated below or the 1996 minimum grand list value, whichever is greater.
(4) Beginning with the January 1, 1997 grand list, special nonresidential property and inventory shall be subject to a special tax. The special tax shall be imposed in any tax year in which the aggregate grand list value of special nonresidential property and inventory is less than the 1996 minimum grand list value. The special tax shall be in addition to taxes imposed on real and personal property generally. The special tax rate shall be sufficient to generate the tax revenues necessary to fully offset the decrease in tax revenues that would result from basing the property tax rate on the 1996 minimum grand list value rather than the actual aggregate grand list value of special nonresidential property and inventory.
(5) Inventory shall be valued on the grand list as follows:
(A) 80% percent of fair market value as of January 1, 1997.
(B) 60% percent of fair market value as of January 1, 1998.
(C) 40% percent of the fair market value as of January 1, 1999.
(D) 20% percent of the fair market value as of January 1, 2000.
(E) Zero percent of the fair market value for the year 2001 and thereafter.
(6) Properties upon which payments are made in lieu of taxes pursuant to a contractual agreement with the Town shall be classified according to their grand list classification and assessed for the purposes of such payments.
(7) If a property is used for both residential and nonresidential purposes for both farm and nonfarm purposes, the value of the property shall be apportioned according to such uses and classified and assessed as in this section.