Taxation

V.S.A. tit. 24 Appendix, ch. 13, subch. 15

in effect

24 App. V.S.A. ch. 13, § 1501 Taxes on real and personal property

1501. Taxes on real and personal property Taxes on real and personal property shall be due and payable in no fewer than three equal installments on such dates of each tax year as shall be determined annually by the City Council. Amended 1999, No. M-4, § 4, eff. April 27, 1999.

24 App. V.S.A. ch. 13, § 1502 Penalty

1502. Penalty A late charge of eight percent will be added to any tax not paid on or before the dates specified in section 1501 of this subchapter. In addition, interest at the rate of one percent per month will be added to any tax not paid on or before its due date, for each month or fraction thereof after the date on which the tax payment was due.

24 App. V.S.A. ch. 13, § 1503 Waiver of penalty

1503. Waiver of penalty (a) The City Manager may waive the penalty incurred by any taxpayer because of the late payment of the installment of real and personal property taxes, but only when all of the following requirements have been met: (1) the total amount of such installment was paid in full within 30 days from its due date; and (2) the taxpayer specifically requests in writing the waiver of such penalty, stating the reason for the request; and (3) the City Manager finds that the taxpayer was unable to make payment of said taxes by the due date because of circumstances beyond his or her control. (b) If the City Manager waives the penalty for any taxpayer, such fact and the reasons therefore shall be forthwith reported to the Council. (c) The City Manager shall also waive the penalty and interest incurred by a taxpayer because of the mathematical error of the City Tax Department in computing this tax, and such waiver shall be forthwith reported to the Council.

24 App. V.S.A. ch. 13, § 1504 Business inventory and business personal property

1504. Business inventory and business personal property (a) The City shall exempt business inventory as defined in 32 V.S.A. § 3848 from the property tax. (b) Business personal property as defined in 32 V.S.A. § 3618(c) shall be appraised in accordance with the provisions of 32 V.S.A. § 3618, as such provisions are from time to time amended. (c) Subsection (b) of this section notwithstanding, all business personal property first located in the City after April 1, 1996, shall be exempt from property tax. (d) Subsection (b) of this section notwithstanding, the listed value of business personal property included in the City grand list for fiscal year 1996, shall be reduced by 20 percent for fiscal year 1997, and each year thereafter, or the maximum amount authorized under the provision of 32 V.S.A. § 3618(a), whichever is greater, and deleted from the grand list when reduced to zero listed value.

24 App. V.S.A. ch. 13, § 1505 Tax stabilization agreements

1505. Tax stabilization agreements Notwithstanding any other provisions of this charter or the requirements of the general law of the State of Vermont, the City Council is authorized and empowered to negotiate and execute agreements between the City and taxpayers regarding assessment and taxation of taxable commercial and industrial property located within the City, subject only to requirements of the Vermont Constitution and the limitation that no agreement shall be for a term longer than 10 years. Any agreement entered into under this provision shall require approval by four members of the City Council.

24 App. V.S.A. ch. 13, § 1506 Sales, rooms, meals, and alcoholic beverages tax

1506. Sales, rooms, meals, and alcoholic beverages tax (a) The City Council may impose a tax on those transactions in the City involving sales, rooms, meals, and alcoholic beverages that are subject to taxation by the State of Vermont. The authority of the City Council to impose a tax on these transactions was approved by the voters on November 7, 2006. Imposition of any tax by the City Council under this section shall be at the rate or rates specified in 24 V.S.A. § 138 and shall be imposed in accordance with the requirements of 24 V.S.A. § 138(a)(2), (c), and (d). (b) The City Council shall impose a tax authorized by this section by adopting an ordinance in the manner provided by sections 106-109 of this charter. (c) Sales tax revenue received by the City shall be used to reduce the municipal property tax collected on the City grand list and shall not be used to increase total City revenues. (d) Rooms, meals, and alcoholic beverage tax revenues received by the City may, at the sole discretion of the City Council, be used in any of the following ways: (1) to deposit in a reserve fund established by the City Council to fund the purchase of land or for construction or reconstruction of City buildings and infrastructure; (2) to reduce the municipal property tax collected on the City grand list without increasing total City revenues; or (3) any combination of subdivisions (1) and (2) of this subsection. Added 2007, No. M-13, § 2; eff. May 8, 2007.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/24APPENDIX/013Fetched: 10/21/2026