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Vermont Statutes Annotated — Title 32 (Taxation and Finance)

32 V.S.A. § 3710

Municipal Grand List Stabilization Program

Official textlegislature.vermont.gov

# (a)

There is established the Municipal Grand List Stabilization Program within the Department of Taxes to reimburse municipalities for municipal property taxes assessed under chapter 133 of this title for flood-prone properties acquired by a municipality through a voluntary buyout program operated by the Division of Emergency Management.

# (b)

On or before September 1 of each year, the Commissioner of Public Safety shall certify to the Commissioner of Taxes the properties eligible for the Municipal Grand List Stabilization Program and shall submit any other information required by the Commissioner of Taxes. To be eligible for the Program under this subchapter, a municipality must have acquired an eligible property on or after July 1, 2023 and preserved the property as open space with a deed restriction or covenant prohibiting development of the property.
The Commissioner of Public Safety shall first certify properties to the Commissioner of Taxes pursuant to this subsection on or before September 1, 2025.

# (c)

Upon notification by the Commissioner of Public Safety, the Commissioner of Taxes shall certify the payment amounts and make an annual payment to each municipality for each eligible property to compensate for the loss of municipal property tax. The payment shall be calculated using the grand list value of the acquired property for the year during which the property was either damaged by flooding or identified as flood-prone by the Commissioner of Public Safety, multiplied by the municipal tax rate, including any submunicipal tax rates, in effect each year. This payment shall be made on or before January 1 of each year for five years.

# (d)

A property shall not be eligible for reimbursement payments for more than 10 years.
The Commissioner shall make an annual payment for the full amount calculated under subsection (c) of this section for five years. After a municipality has received payments for an eligible property for five consecutive years, the Commissioner shall make an annual payment to the municipality for any subsequent year of eligibility in an amount equal to one-half of the amount calculated under subsection (c) of this section.

# (e)

Payment under this section shall be calculated and issued from the PILOT Special Fund under section 3709 of this title only after all other grants under subchapter 4 of this chapter are calculated and issued. If the PILOT Special Fund balance is insufficient to pay the full amount of all payments authorized under this subchapter, then payments calculated under this section and due to each municipality for each property shall be reduced proportionately. (

Last amended: Added 2025, No. 27, § E.142.2, eff. July 1, 2025.)

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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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