Vermont House Bill H0480

Vermont 2023-2024 Regular Session

• Introduced: 3/21/23
• Refer: 3/21/23
• Engrossed: 3/29/23
• Refer: 3/31/23
• Report Pass: 4/26/23
• Refer: 4/26/23
• Report Pass: 5/11/23
• Refer: 5/11/23
• Enrolled: 5/11/23
• Enrolled: 5/12/23
• Passed: 5/12/23

Caption

An act relating to property valuation and reappraisals

Impact

The bill impacts existing statutes by amending criteria under which municipalities must conduct reappraisals of their education grand lists. It requires municipalities with significant assessment discrepancies to engage in reappraisals and introduces structured timelines for compliance. This effort is expected to enhance the consistency and reliability of property valuation in Vermont, addressing long-standing concerns regarding fairness and equity in local tax systems. Moreover, the bill empowers local selectboards to appoint assessors when needed, ensuring continuity and professionalism in property assessment practices.

Summary

House Bill H0480, also known as the act relating to property valuation and reappraisals, aims to modernize and create a more cohesive property appraisal system across municipalities in Vermont. The legislation mandates municipalities to conduct full property reappraisals in a systematic manner every six years and details the procedures for addressing inadequate assessments. An essential element of the bill is the establishment of a statewide reappraisal system that seeks to ensure more accurate and fair property evaluations across the state, thereby promoting equity in property taxation.

Sentiment

The sentiment surrounding H0480 is generally positive, as stakeholders recognize the necessity of enhancing the appraisal process to combat issues of inequality and inconsistency in property assessment. Proponents from both advocacy groups and local governmental bodies believe that this bill will facilitate a more standardized approach to property taxation, ultimately benefiting local communities by fostering fairer tax rates. However, some concerns have been raised about the potential administrative burden and costs associated with implementing the new statewide reappraisal system.

Contention

Notable points of contention include the bill’s provisions for bias reduction training for assessors and the implications of having an appointed versus elected lister. Some opponents argue that the shift in responsibilities could undermine local control and may complicate community engagement in the property appraisal process. There are also discussions regarding sufficient funding to support the education and training necessary for assessors to comply with the new requirements, which could lead to disparities in implementation across wealthier and less affluent municipalities.