July 1, 2011 - June 30, 2012
The appraised values are the basis for the distribution of the City's annual property tax levy. The Grand List Book is an inventory of approximately 10,790 taxable real estate parcels and 750 business personal property accounts. Property appraised values are based on an estimation of fair market value. The Assessor’s Department has guidelines for insuring fair tax assessments for all property owners throughout the City.
Calculating Taxes for a Residential Property with no Business or Rental Use
Appraised Value ÷ 100 = [Property Grand List Value]
[Property Grand List Value] X 0.728 = [Municipal Tax]
[Property Grand List Value] X [Education Rate] = [Education Tax]
Total Property Tax = [Municipal Tax] + [Education Tax]
Education Rates for FY2012 are:
Homestead 1.3019
Non-Homestead 1.5441
For information about HS-122 and the Vermont Homestead, click here.
For instructions on calculating properties with partial Business and/or Rental use, please contact the Assessor’s Department
Calculating Taxes for a Commercial Property
(Appraised Value X 1.2) ÷ 100 = [Property Grand List Value]
[Property Grand List Value] X 0.728 = [Municipal Tax]
[Property Grand List Value] X 1.5441 = [Education Tax]
Total Property Tax = [Municipal Tax] + [Education Tax]