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Vermont Statutes Annotated — Title 32 (Taxation and Finance)

32 V.S.A. § 3703

Grant formula

Official textlegislature.vermont.gov

# (a)

The amount of a grant to a municipality authorized by this subchapter shall be based on the total assessed value of any State-owned property located in the municipality, multiplied by the common level of appraisal for the municipality as determined by the Division of Property Valuation and Review, multiplied by one percent, and multiplied by the adjusted municipal tax rate for the municipality in which the property is located.

# (b)

[Repealed.]

# (c)

The total of any grants under subsection (a) of this section for buildings owned by the University of Vermont and State Agricultural College shall be limited to a maximum of $750,000.00.

# (d)

[Repealed.]

# (e)

The Secretary of Administration shall have authority to reduce any payments under this subchapter to avoid multiple payments to a municipality in the same year in lieu of taxes with respect to the same property. (

Last amended: Added 1997, No. 60, § 53; amended 1997, No. 71 (Adj. Sess.), § 26, eff. July 1, 1997; 1999, No. 1, § 106b, eff. March 31, 1999.)

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In this chapter (40 sections)
  1. 123-3603 · Construction equipment
  2. 123-3604 · Mines and quarries
  3. 123-3605 · Water rights
  4. 123-3606 · Standing timber
  5. 123-3607 · Orchard lands
  6. 123-3607a · Barns, silos, and other farm structures
  7. 123-3608 · Buildings on leased land
  8. 123-3609 · Perpetual or redeemable leases
  9. 123-3610 · Taxation of perpetual leased lands
  10. 123-3611 · Assessment against State easements for flood control projects
  11. 123-3612 · Owner’s improvements
  12. 123-3613 · Appeal
  13. 123-3614 · Property on federal land
  14. 123-3615 · 123-3615
  15. 123-3617 · Repealed. 1991, No. 203 (Adj. Sess.), § 1, eff. May 27, 1992
  16. 123-3618 · Business personal property
  17. 123-3619 · Time-share projects
  18. 123-3620 · Electric utility poles, lines, and fixtures
  19. 123-3621 · Petroleum and natural gas infrastructure
  20. 123-3651 · General rule
  21. 123-3652 · Mortgagor deemed owner
  22. 123-3653 · Unoccupied and owner unknown
  23. 123-3654 · Undivided estate of deceased person
  24. 123-3655 · Facilities not within town limits
  25. 123-3656 · Repealed. 1997, No. 60, § 55
  26. 123-3657 · 123-3657
  27. 123-3659 · Municipal lands [Effective July 1, 2026; see also 32 V.S.A.…
  28. 123-3660 · Repealed. 1997 (Adj. Sess.), No. 71, § 22, eff. Jan. 1, 1998
  29. 123-3691 · General rule
  30. 123-3692 · Taxation of boats, outboard motors, and trailer coaches
  31. 123-3701 · Definitions
  32. 123-3702 · Payment of grants authorized
  33. 123-3703 · Grant formula
  34. 123-3704 · Determination of assessed values; appeal
  35. 123-3705 · Adjusted municipal grand list and adjusted municipal tax rate
  36. 123-3706 · Payment to municipalities
  37. 123-3707 · Rules
  38. 123-3708 · Payments in lieu of taxes for lands held by the Agency of…
  39. 123-3709 · PILOT Special Fund
  40. 123-3710 · Municipal Grand List Stabilization Program
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