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 10,689 taxable real estate parcels and 252 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.
FY 2023 Tax Rates
Education
Homestead: 1.3891
Non-Homestead: 1.4041
Municipal
Tax Rate: 0.7082
Local Agreement: 0.0003
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
Formula for Calculating Taxes for a Residential Property with no Business or Rental Use
[Appraised Value] ÷ 100 = [Grand List Value]
[Grand List Value] x [Education Rate] = [Education Tax]
[Grand List Value] x [Municipal Rate] = [Municipal Tax]
[Grand List Value] x Local Agreement Rate] = [Local Agreement Tax]
Total Property Tax = [Municipal Tax] + [Education Tax] + [Local Agreement Tax]
Formula for Calculating Taxes for a Commercial Property
[Appraised Value] ÷ 100 = [Appraised Grand List Value]
([Appraised Value] x 1.2) ÷ 100 = [Assessed Grand List Value]
[Assessed Grand List Value] x [Municipal Tax Rate] = [Municipal Tax]
[Appraised Grand List Value] x [Non-Homestead Education Rate] = [Education Tax]
[Appraised Grand List Value] x Local Agreement Rate] = [Local Agreement Tax]
Total Property Tax = [Municipal Tax] + [Education Tax] + [Local Agreement Tax]
Property taxes are divided into quarterly payments. Payments are due on the 12th of August, November, March, and June each year. In the event that the 12th falls on a weekend, payments are due the next business day.
