The Vermont Statutes Online
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 32 : Taxation and Finance
Chapter 135 : Education Property Tax
(Cite as: 32 V.S.A. § 5406)-
§ 5406. Notice of fair market value and coefficient of dispersion
(a) Not later than January 1 of each year, the Director of Property Valuation and Review shall notify the town clerk and chair of the board of listers of each municipality of the equalized education property value and the coefficient of dispersion of that town for the prior year and of the manner by which the equalized education property value and coefficient of dispersion were determined by the Director.
(b) Not later than April 1 of each year, the Director shall certify to the Secretary of Education the equalized education property value and coefficient of dispersion for the prior year of every municipality of the State.
(c) If the Director of Property Valuation and Review certifies that a municipality has completed a townwide reappraisal, the common level of appraisal for that municipality shall be equal to its new grand list value divided by its most recent equalized grand list value, for purposes of determining education property tax rates. (Added 1997, No. 60, § 45, eff. Jan. 1, 1998; amended 1997, No. 71 (Adj. Sess.), § 10, eff. Jan. 1, 1998; 2003, No. 76 (Adj. Sess.), § 9, eff. Feb. 17, 2004; 2005, No. 75, § 12; 2013, No. 92 (Adj. Sess.), § 287, eff. Feb. 14, 2014.)
