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 125 : Exemptions
Subchapter 002 : RESTRICTED EXEMPTIONS
(Cite as: 32 V.S.A. § 3849)-
§ 3849. Business personal property; local option
(a) At an annual or special meeting warned for the purpose, a municipality may, by a majority vote of those present and voting, elect not to tax, in whole or in part, business personal property according to this section. An election by a town not to tax business personal property shall remain in effect until repealed or amended by a similar vote of the town.
(b) As used in this section, “business personal property” means property defined in subsection 3618(c) of this title.
(c) If a town elects to repeal in whole the tax on business personal property, it may do so effective for 100 percent of property in the year following the vote, or it may vote to exempt an increasing percentage of property each year for a number of years not to exceed 10 years, until 100 percent of business personal property is exempt. (Added 1991, No. 203 (Adj. Sess.), § 3, eff. May 27, 1992.)
