The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
Subchapter
015
:
TAXATION
(Cite as: 24 App. V.S.A. ch. 13, § 1504)
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§ 1504. Business inventory and business personal property
(a) The City shall exempt business inventory as defined in 32 V.S.A. § 3848 from the property tax.
(b) Business personal property as defined in 32 V.S.A. § 3618(c) shall be appraised in accordance with the provisions of 32 V.S.A. § 3618, as such provisions are from time to time amended.
(c) Subsection (b) of this section notwithstanding, all business personal property first
located in the City after April 1, 1996, shall be exempt from property tax.
(d) Subsection (b) of this section notwithstanding, the listed value of business personal
property included in the City grand list for fiscal year 1996, shall be reduced by
20 percent for fiscal year 1997, and each year thereafter, or the maximum amount authorized
under the provision of 32 V.S.A. § 3618(a), whichever is greater, and deleted from the grand list when reduced to zero listed
value.