Vermont Statutes Title 32 Sec. 8211
Terms Used In Vermont Statutes Title 32 Sec. 8211
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
- Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
§ 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.)