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20 / 109

Year

Parcels

Owners

Acres

Acres

Acres

2005

13,640

10,807

510,645

1,482,437

1,993,082

2006

14,061

11,195

515,422

1,521,506

2,036,928

2007

14,640

11,721

521,381

1,564,321

2,085,702

2008

15,047

12,078

524,835

1,594,324

2,119,159

2009

15,641

12,570

534,275

1,654,295

2,188,570

2006

8,871,412

27,125,217

35,996,629

2007

9,728,409

29,797,654

39,526,063

2008

10,712,418

33,913,934

44,626,352

2009

11,584,784

37,386,555

48,971,339

Tax

Ag

Forest

Total

The town-by-town report of savings appears below.

Given the economic conditions today, the use value appraisal program will be closely examined in the upcoming legislative session. Section E.109.1 of Act 1 of the 2009 Special Session asked the Current Use Tax Coalition to report its recommendations for cutting $1.6 million for FY11. That report was to be made to the House Committee on Ways and Means and the Senate Finance Committee. The committees will likely consider not only those recommendations but solicit ideas from other parties-- both public and private.

This isn’t the first time the current use program has been considered for cuts. During the financial downturn that occurred in the 1990’s the use value program was not fully funded. In fiscal years 1992 through 1996 the benefits to program participants was pro-rated at 80%, 77%, 62% and 59%, respectively.

Education Tax

Total Savings to

Savings

Owners

$ 24,901,872

$ 32,980,570

Landowners with land and farm buildings enrolled for tax year 2009 enjoyed a total savings of just under $49 million. That cost has been steadily climbing over the last few years:

Tax

Municipal Ta

Year

Savings

2005

$ 8,078,698

x

2008

$

654,924

3,286

2007

$

489,540

2,752

2006

$

643,642

4,497

2005

$

840,159

5,127

2004

$

700,839

4,602

Land Use Change Tax A land use change tax is levied when enrolled land is “developed” as that term is defined in 32 V.S.A. §3752. The tax for land enrolled more than 10 years is ten percent of the fair market value of the developed land. The tax is twenty percent for parcels enrolled 10 years or less. Some landowners chose to pay the land use change tax thus removing the lien in favor of the State of Vermont. In the last few years the land use change tax levied was:

Calendar Year

Change Tax

Acres

Comparable figures are not yet available for 2009.

14

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