Introduced by Senator Bartlett of Lamoille District
Subject: Education property tax; common level of appraisal
Statement of purpose: This bill proposes to eliminate common levels of appraisal and to create a regional three-year reappraisal system, as follows:
1. Appraiser Training. Property Valuation and Review (“PVR”) would begin an annual training program in uniform appraisal techniques. The state would pay for enrollment in the program by any listers or assessors who currently appraise for towns; tuition would be charged for other members of the public who wish to enroll. PVR would provide the training, either directly or by subcontracting the work.
2. Creation of Regional Appraisal Offices. PVR would begin hiring appraisers for regional offices. Appraisals on a regional basis would improve accuracy and consistency in assessments through uniform appraisal techniques.
3. Appeals. Appeals of appraisals would continue under similar rules, but the initial appeal would be to the regional appraiser and from there to an independent hearing officer.
4. Three-Year Rolling Reappraisals. Regional reappraisals would be conducted every three years for each property on a rolling reappraisal basis, with one-third of the new value phased in in each year after the reappraisal.
5. Elimination of CLA. After the initial transition period, since parcels would be appraised directly every three years, there would be no further need for the indirect equalization of values through the aggregate fair market value study (equalization) and common levels of appraisal (CLA). Appraisal results would be reviewed by PVR for accuracy and adjustments made to individual parcel values when necessary.
6. Funding. Estimated cost of the regional appraisal system is $7.5 million per year. Under current law, the cost of grants to towns of $6.00 plus $1.00 per parcel (315,000 parcels) is about $2.3 million. The grants are for maintenance of the grand list, appraisal costs, and aid with the equalization study. Some portion of the $2.3 million could be shifted to the regional system. In addition, a portion of what PVR currently spends on the equalization study could be used instead to pay for the new regional system.
AN ACT RELATING TO A REGIONAL THREE-YEAR REAPPRAISAL SYSTEM AND ELIMINATION OF 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