§ 3701. Definitions
As used in this subchapter:
(1) “State-owned property” means
(A) State-owned buildings, including buildings of the Vermont State Colleges that are
tax-exempt under 16 V.S.A. § 2178; buildings of the University of Vermont and State Agricultural College used for educational
and not commercial purposes; and buildings of the Agency of Transportation and the
Department of the Military; but excluding the value of land on which the buildings
are located, and excluding all highways and bridges and any land pertaining to them;
and
(B) State-owned lands that pertain to State correctional facilities.
(2) “Assessed value of State buildings” means the estimation of the current cost of replacing
a building, maintained for insurance purposes by the State agency or other entity
responsible for insuring the building, depreciated by the age and condition of the
building.
(3) “Assessed value of State lands” means the fair market value of lands that pertain
to State correctional facilities, as determined by the Division of Property Valuation
and Review, subject to the provision of subsection 3704(b) of this title.
(4) “Adjusted municipal grand list” means the total assessed value of any State-owned
property located in a municipality, multiplied by the common level of appraisal for
the municipality as determined by the Division of Property Valuation and Review, multiplied
by one percent, and added to the grand list of the municipality as determined pursuant
to chapter 129 of this title.
(5) “Adjusted municipal tax rate” means the total sum of money voted by a municipality
for all noneducational expenses pursuant to 17 V.S.A. § 2664 or 24 V.S.A. § 1309, divided by the adjusted municipal grand list of the municipality.
(6) “Municipality” means an incorporated city, town, village, or unorganized town, grant,
or gore in which a tax is assessed for noneducational purposes. (Added 1997, No. 60, § 53; amended 1997, No. 71 (Adj. Sess.), §§ 23, 24, eff. July 1, 1997; 1999, No. 1, § 106a, eff. March 31, 1999; 2005, No. 207 (Adj. Sess.), § 7; 2021, No. 105 (Adj. Sess.), § 515, eff. July 1, 2022.)