Vermont Statutes Title 32 Sec. 5404b
Terms Used In Vermont Statutes Title 32 Sec. 5404b
- Education property tax grand list: means the list of property determined pursuant to section 5404 of this title. See
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- 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
§ 5404b. Hydroelectric property; conservation easements; transfers
Notwithstanding any other provision of law, including the provisions of subdivisions 3481(1) and 3802(1) of this title:
(1) any real property subject to conservation easements granted pursuant to the terms of any agreement executed on or after January 1, 1997 between companies owning real property used for hydroelectric generation in this State and the State of Vermont shall continue to be assessed and property taxes collected as if such property were not subject to such easements;
(2) any real property purchased by the State pursuant to the terms of any agreement executed on or after January 1, 1997 between companies owning real property used for hydroelectric generation in this State and the State of Vermont, which property continues to be owned by the State or by some successor owner that would otherwise be exempt from property taxes, shall continue to be assessed and property taxes collected as if such property were not so purchased by the State; and
(3) any real property and fixtures used for hydroelectric generation and purchased by the Town of Rockingham on or after January 1, 2002, which property and fixtures continue to be owned by the Town of Rockingham and used for purposes of hydroelectric generation, shall continue to be listed on the education property tax grand list and assessed as if such property were not so purchased by the Town of Rockingham. The Town shall, in lieu of property taxes, pay to any governmental body authorized to levy property taxes the amount that would be assessable as property taxes on the real and tangible personal property if that property were the property of a utility. These payments shall be due, and bear interest if unpaid, as in the case of taxes on the property of a utility. For purposes of these payments in lieu of taxes, the assessors of the taxing authority shall make a valuation and assessment of the property and determine the tax that would be assessable if the property were owned by a utility. Payments in lieu of taxes made under this chapter shall be treated in the same manner as taxes for the purposes of all procedural and substantive provisions of law, including appeals, now and hereinafter in effect applicable to assessment and taxation of real and personal property, collection and abatement of these taxes, and the raising of public revenues. (Added 1997, No. 60, § 45, eff. Jan. 1, 1998; amended 2003, No. 121 (Adj. Sess.), § 100, eff. June 8, 2004.)