32 V.S.A. § 8211 — Rate of tax and time of payment

(a) For each taxable year, there is assessed upon the appraised value of the property
and corporate franchise of each person or corporation owning or operating a railroad
located in whole or in part within this State a tax at the rate of one percent. The
appraised value shall be obtained and established as provided under this subchapter.
One-half of the tax imposed by this section, covering the six months ending with June
30 in each year, shall be paid to the Commissioner on or before the following October
15 by the person or corporation then owning or operating the railroad. The remaining
one-half of the tax covering the six months ending with December 31 in each year shall
be paid to the Commissioner on or before the following April 15 by the person or corporation
then owning or operating the railroad.
(b) Not later than May 15 in each year, the State shall pay to each town wherein railroad
real estate is located 50 percent of that portion of the tax revenue that has been
collected upon the property of the railroad in that town for the immediately preceding
taxable year. Delinquent taxes, when collected, shall be treated in the same fashion. (Amended 1971, No. 79, § 1, eff. date, see note set out below; 2021, No. 105 (Adj. Sess.), § 568, eff. July 1, 2022.)