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 24 Appendix : Municipal Charters
Chapter 103 :
Subchapter 005 : TAXATION
(Cite as: 24 App. V.S.A. ch. 103, § 503)-
§ 503. Fair market value of real estate
(a) In the event that the fair market value of real estate is materially changed because of total or partial destruction of or damage to the property, or because of alterations, additions, or other capital improvements, the taxpayer may appeal as provide by law.
(b) When the fair market value of real estate is finally determined by appeal to the Board of Listers or to the Board of Civil Authority, then the value so fixed shall be the fair market value of such real estate for the year in which the appeal is taken.
(c) When the fair market value of real estate is finally determined by the Director of Property Valuation and Review (PVR) or by a court having jurisdiction, then the value so fixed shall be the fair market value of such real estate for the year for which such appeal is taken and for the ensuing two years, unless the taxpayer’s property is altered materially, is damaged, or if the Town in which it is located has undergone a complete revaluation of all taxable real estate, in the event of which, such fair market value may be changed. (Amended 2019, No. M-8, § 1, eff. June 10, 2019.)
