Lamoille County
Property Tax Guide

Assessment administration: Revaluation cycle: Every year. Director is Appointed. Real and personal property is valued and assessed for municipal property tax purposes by the town listers. The listers are responsible for developing the grand list of all taxable real and personal property in a municipality. In unorganized towns and gores, the Board of Appraisers, who are appointed by the Director of the Division of Property Valuation, with the governor's approval, perform the same duties as listers.

Classification and ratios: %; Class 1 %; Class 2 %

Tax limits:

Agricultural treatment: Property is valued according to its current use, which is the 5-year-average production return per acre that the land would command if it were to remain in agricultural use, which is then capitalized at different discount rates determined annually by the Current Use Advisory Board (CUAB). Farm buildings are eligible for an exemption so long as they are actively used for agricultural purposes (including dwellings used for farm employee housing) are owned by a qualified farmer for at least 3 years. The Commissioner of Taxes may exempt a farmer for one year at a time due to personal hardship caused by personal or family disability or death; economic disaster such as loss of farm buildings, equipment, or livestock due to fire or disease; or natural disaster. The agricultural land and farm buildings continue to be taxed on the basis of a current use value appraisal.

Personal property treatment: Personal property taxed: Yes, but see explanation. Inventory taxed: Yes, but see footnote. Machinery and equipment taxed: Yes, but see footnote

Transfer charges: The state property transfer tax rate on deeds of properties not princeipal residence is 1.25% of the value of the property transferred, at a minimum of $1. On a principal residence, the tax rate is 0.5% on the first $100,000 and 1.25%  on the amount in excess of $100,000. On a home purchased with the Vermont Housing and Conservation Trust Fund, Vermont Housing Finance Agency, or U.S. Department of Agriculture and Rural Development assistance, there is no tax on the first $110,000 and 1.25% on the amount in excess of $110,000. A 0.2% clean water surcharge is assessed on the value of property subject to the property transfer tax; on all properties not a principal residence; on principal res...

Legal definition: "Real property" means all lands, including improvements, and fixtures thereon, and property of any nature appurtenant thereto, or used in connection therewith, and every estate, interest and right, legal or equitable, therein, including terms of years and liens by way of judgment, mortgage, or otherwise and the indebtedness secured by such liens.