32 V.S.A. § 5136 — Interest on overdue taxes

(a) When a municipality votes under an article in the warning to collect interest on overdue
taxes, such taxes, however collected, shall be due and payable not later than December
1 and shall bear interest at the rate of not more than one percent per month or fraction
thereof, for the first three months and thereafter one and one-half percent per month
or fraction thereof, from the due date of such tax. Such interest shall be imposed
on a fraction of a month as if it were an entire month. A municipality having so voted
to collect interest as hereinbefore provided, and the amount thereof, shall thereafter
collect such interest each year until the municipality shall vote otherwise at a meeting
duly warned for the purpose of voting on such question.
(b) Whenever a municipality votes to collect interest on overdue taxes pursuant to this
section, interest in like amount shall be paid by the municipality to any person making
any overpayment of taxes occurring as a result of a redetermination of the grand list
of the taxpayer on appeal provided by chapter 131 of this title. (Amended 1973, No. 86, § 3, eff. for the tax year beginning April 1, 1974, and thereafter; 1981, No. 133 (Adj. Sess.), § 4, eff. April 2, 1982 for tax year beginning April 1, 1982, and thereafter; 1997, No. 50, § 12, eff. June 26, 1997.)