Vt. Stat. Ann. tit. 32, § 3849
Business personal property; local option
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
(1) At an annual or special meeting warned for the purpose, a municipality may, by a majority vote of those present and voting, elect not to tax, in whole or in part, business personal property according to this section. An election by a town not to tax business personal property shall remain in effect until repealed or amended by a similar vote of the town.
(1) At an annual or special meeting warned for the purpose, a municipality may, by a majority vote of those present and voting, elect not to tax, in whole or in part, business personal property according to this section. An election by a town not to tax business personal property shall remain in effect until repealed or amended by a similar vote of the town.
(2) As used in this section, "business personal property" means property defined in subsection 3618(c) of this title.
(2) As used in this section, “business personal property” means property defined in subsection 3618(c) of this title.
(3) If a town elects to repeal in whole the tax on business personal property, it may do so effective for 100 percent of property in the year following the vote, or it may vote to exempt an increasing percentage of property each year for a number of years not to exceed 10 years, until 100 percent of business personal property is exempt. Added 1991, No. 203 (Adj. Sess.), § 3, eff. May 27, 1992.
(3) If a town elects to repeal in whole the tax on business personal property, it may do so effective for 100 percent of property in the year following the vote, or it may vote to exempt an increasing percentage of property each year for a number of years not to exceed 10 years, until 100 percent of business personal property is exempt.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.