The Vermont Statutes Online

Title 32 : Taxation and Finance

Chapter 133 : Assessment and Collection of Taxes

Subchapter 001 : ASSESSMENT GENERALLY

• § 4608. Resident ownership ratio

  (a) The board of listers of each town or city shall report annually to the Director:

  (1) the value as appears in the grand list of all taxable real property in the town or city; and

  (2) the value as appears in the grand list of all such taxable property in the town or city, classified according to the use of the property and, within each use category, further classified as owned by one of the following:

  (A) resident of the town or city;

  (B) resident of the State but not of the town or city;

  (C) individual domiciled outside the State; or

  (D) corporation, partnership, or other entity.

  (b) The reports shall be made on forms provided by the Director, and annually on October 1 or as soon thereafter as may be practical, the Director shall on the basis of available data compute the percentage at fair market value of all taxable property in the State and in each town or city, and the percentage of each use category of taxable property in the State and in each town or city, that is owned by residents of the town or city, other residents of the State, individuals domiciled outside the State, and corporations, partnerships, and other entities.

  (c) All such reports and computations shall be classified as public information, except that the Director is authorized and directed to make reasonable charges for any documentation of such information to persons requesting the same, other than agencies of government, State or local.

  (d) The Director shall consult with local listers and establish the date or dates, in any or all cases, when such reports shall be made to him or her by local officials in each year, having regard to resources of manpower and personnel available to him or her and to local officials, and he or she shall have power to alter or extend such due dates if such is reasonably necessary.

  (e) “Resident” means those individuals who, to the best knowledge of the listers, are legal residents of the town, city, or State, as the case may be, on April 1. (Added 1975, No. 92, § 1, eff. April 30, 1975; amended 1977, No. 105, § 14(a), eff. July 1, 1977; 1991, No. 3, § 1, eff. March 6, 1991; 1991, No. 186 (Adj. Sess.), § 36, eff. May 7, 1992.)