|BILL AS INTRODUCED||2007-2008|
Introduced by Senator Nitka of Windsor District
Subject: Taxation; property tax; common level of appraisal; annual cap
Statement of purpose: This bill proposes to cap the change in common level of appraisal at 3.5 percent per year.
AN ACT RELATING TO
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 32 V.S.A. § 5405(a) is amended to read:
(a) Annually, on or before April 1, the commissioner shall determine the equalized education property tax grand list and coefficient of dispersion for each municipality in the state, but in no case shall the common level of appraisal used to determine the equalized education property tax grand list for any town be more than 3.5 percentage points below that town’s prior-year common level of appraisal.
The Vermont General Assembly
115 State Street