Introduced by Representatives Marron of Stowe, Hube of Londonderry, Livingston of Manchester, O’Donnell of Vernon, Pugh of S. Burlington and Smith of Morristown
Subject: Education finance; taxation; common level of appraisal; limit on annual drop in CLA; fiscal year 2007 education property tax base rates
Statement of purpose: This bill proposes to limit the volatility of the common level of appraisal (CLA) and its effect on education property taxes. For the purpose of determining education property taxes in fiscal years 2007, 2008, and 2009, the decrease in a town’s CLA shall not be more than an eight‑percent drop from the prior year’s volatility-protected CLA.
AN ACT RELATING TO LIMITATION ON DROP IN COMMON LEVELS OF APPRAISAL
It is hereby enacted by the General Assembly of the State of Vermont:
(TEXT OMITTED IN SHORT‑FORM BILLS)
The Vermont General Assembly
115 State Street