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
002
:
RAILROADS
(Cite as: 32 V.S.A. § 8322)
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§ 8322. Subsequent appraisals
(a) When, subsequent to the date whereon such appraisals are required to be made, trains,
other than construction trains, commence running on a railroad located in whole or
in part within this State or on any extension or branch of a railroad theretofore
appraised, on or before December 31 in the year in which such trains so commence running,
the Commissioner shall appraise such railroad, extension, or branch in the manner
hereinbefore provided for appraising such property.
(b) When, subsequent to the time thereof appraisals are required to be made in an even
year, a person or corporation operating a railroad constructs, acquires, or begins
to use one or more electric power plants subject to the appraisal under the provisions
of article 4 of this subchapter, the Commissioner shall, on or before December 31
in the year in which such plant was constructed, acquired, or first used in whole
or in part for railroad purposes, appraise such plants in the manner hereinbefore
provided for appraising such property.
(c) If, during the period between the appraisals, extensive repairs, improvements, or
additions through acquisition or new construction have been made to the property of
a railroad operating in this State, or if during such period there has been a large
depreciation in the value of the property of such a railroad by reason of fire, flood,
or other accident or disaster, or by reason of abandonment of lines or tracks, on
or before December 31 in any odd year, the Commissioner may increase or decrease the
amount of the last appraisal as he or she deems just. Notice of such action of the
Commissioner, shall be given, and a party aggrieved thereby may appeal in the manner
provided in respect to the regular biennial appraisals, and the taxes payable on or
before October 15 next following and thereafter, until a new appraisal becomes effective,
shall be based on such increased or decreased appraisal. (Amended 1997, No. 156 (Adj. Sess.), § 13, eff. April 29, 1998.)