Property:
Vermont: New Law Orders Reappraisals for Municipalities Every Six Years
H.B. 480, signed by gov. 6/14/23. Applicable retroactively to April 1, 2022, new law removes Vermont’s common level of appraisal (CLA) as a trigger for the Vermont Division of Property Valuation and Review (PVR) to order reappraisals, requiring Vermont municipalities to reappraise every six years unless another period of time is approved by PVR starting on January 1, 2025. The legislation also tasks the Vermont Department of Taxes to prepare an implementation proposal with a number of considerations generally regarding property valuation and reappraisals. Please contact us with any questions.
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