Source: https://legislature.vermont.gov/statutes/section/32/135/05401
Timestamp: 2019-03-21 12:07:27
Document Index: 64857346

Matched Legal Cases: ['§ 5401', '§ 501', '§ 1422', '§ 4001', '§ 2804', '§ 4026', '§ 4026', '§ 45', '§ 7', '§ 58', '§ 34', '§ 7', '§ 1', '§ 3', '§ 289', '§ 3', '§ 28', '§ 13', '§ 16', '§ 8', '§ 10', '§ 11', '§ 21', '§ 24', '§ 19', '§ 13', '§ 3', '§ 37', '§ 1', '§ 38', '§ 11', '§ 283', '§ 57', '§ 59', '§ 27', '§ 59', '§ 3']

(Cite as: 32 V.S.A. § 5401)
(B) determine the median of the ratios calculated in subdivision (A) of this subdivision (1);
(C) determine the absolute deviation of each ratio from the median ratio calculated in subdivision (B) of this subdivision (1);
(A) "Homestead" means the principal dwelling and parcel of land surrounding the dwelling, owned and occupied by a resident individual as the individual's domicile or owned and fully leased on April 1, provided the property is not leased for more than 182 days out of the calendar year, or for purposes of the renter property tax adjustment under subsection 6066(b) of this title, rented and occupied by a resident individual as the individual's domicile.
(B) The parcel of land surrounding the dwelling shall be determined without regard to any road which intersects the land. If the parcel of land surrounding the dwelling is owned by a cooperative housing corporation incorporated under 11 V.S.A. chapter 14, or owned by a nonprofit land conservation corporation or community land trust with exempt status under 20 U.S.C § 501(c)(3), the homestead includes a pro rata part of the land upon which the dwelling is built, as determined by the cooperative corporation, nonprofit corporation, or land trust.
(H) A homestead does not include any portion of a dwelling that is rented and a dwelling is not a homestead for any portion of the year in which it is rented.
(9) "Municipality" means a city, town, unorganized town, village, grant, or gore; or, in the case of property located within the territorial limits of an incorporated school district, "municipality" means an incorporated school district.
(B) Property which is subject to the tax on railroads imposed by chapter 211, subchapter 2 of this title, the tax on telephone companies imposed by chapter 211, subchapter 6 of this title, or the tax on electric generating plants imposed by chapter 213 of this title.
(i) utility cables and lines, poles, and fixtures (except those taxed under chapter 211, subchapter 6 of this title); provided that utility cables, lines, poles, and fixtures located on homestead property and owned by the person claiming the homestead shall be taxed as homestead property;
(K) Any parcel of land, but not buildings, that provides public access to public waters, as defined in 10 V.S.A. § 1422(6), and that is also:
(i) owned by the Town of Hardwick, and located in Greensboro, Vermont; or
(ii) owned by the Town of Thetford, and located in Fairlee and West Fairlee, Vermont.
(A) The per-equalized-pupil amount of the district's education spending, as defined in 16 V.S.A. § 4001(6), plus any amount required to be added from a capital construction reserve fund under 24 V.S.A. § 2804(b).
(B) In excess of 121 percent of the statewide average district education spending per equalized pupil increased by inflation, as determined by the Secretary of Education on or before November 15 of each year based on the passed budgets to date. As used in this subdivision, "increased by inflation" means increasing the statewide average district education spending per equalized pupil for fiscal year 2015 by the most recent New England Economic Project cumulative price index, as of November 15, for state and local government purchases of goods and services, from fiscal year 2015 through the fiscal year for which the amount is being determined.
(13)(A) "Education property tax spending adjustment" means the greater of: one or a fraction in which the numerator is the district's education spending plus excess spending, per equalized pupil, for the school year; and the denominator is the property dollar equivalent yield for the school year, as defined in subdivision (15) of this section.
(B) "Education income tax spending adjustment" means the greater of: one or a fraction in which the numerator is the district's education spending plus excess spending, per equalized pupil, for the school year; and the denominator is the income dollar equivalent yield for the school year, as defined in subdivision (16) of this section.
(14) "Domicile" means the principal dwelling of a person who has established permanent residence in the State. Intention to establish permanent residence is a factual determination to be made in the first instance by the Commissioner. No one factor is conclusive of whether a dwelling is a permanent residence; the Commissioner may consider any relevant factors, including the following: formal and informal statements of the declarant; the location of residences owned or leased by the declarant; where the declarant spends time; the declarant's place of employment and business connections; the location of items of significant value (either monetary or sentimental) to declarant; where the declarant's family lives; place of voter registration; place of issuance of automobile registration and driver's license; previous permanent residency of the declarant; and address listed on federal and State income tax returns filed by the declarant.
(15) "Property dollar equivalent yield" means the amount of spending per equalized pupil that would result if the homestead tax rate were $1.00 per $100.00 of equalized education property value, and the statutory reserves under 16 V.S.A. § 4026 and section 5402b of this title were maintained.
(16) "Income dollar equivalent yield" means the amount of spending per equalized pupil that would result if the income percentage in subdivision 6066(a)(2) of this title were 2.0 percent, and the statutory reserves under 16 V.S.A. § 4026 and section 5402b of this title were maintained. (Added 1997, No. 60, § 45, eff. Jan. 1, 1998; amended 1997, No. 71 (Adj. Sess.), §§ 7, 7a, eff. Jan. 1, 1998; 1997, No. 71 (Adj. Sess.), § 58, eff. June 26, 1997; 1997, No. 156 (Adj. Sess.), § 34, eff. April 29, 1998; 1999, No. 49, §§ 7, 18, eff. June 2, 1999; 2001, No. 53, § 1, eff. June 12, 2001; 2001, No. 144 (Adj. Sess.), § 3, eff. June 21, 2002; 2003, No. 66, § 289b; 2003, No. 68, § 3; 2003, No. 68, § 28, eff. June 18, 2003; 2003, No. 76 (Adj. Sess.), §§ 13, 14, eff. Feb. 17, 2004; 2005, No. 38, §§ 16, 24; 2005, No. 94 (Adj. Sess.), § 8, eff. March 8, 2006; 2005, No. 182 (Adj. Sess.), § 10; 2007, No. 66, §§ 11, 25, eff. July 1, 2007; 2007, No. 82, § 21, eff. July 1, 2007; 2007, No. 92 (Adj. Sess.), § 24; 2009, No. 44, § 19, eff. May 21, 2009; 2011, No. 45, § 13c, eff. May 24, 2011; 2011, No. 127 (Adj. Sess.), § 3, eff. Jan. 1, 2013; 2011, No. 143 (Adj. Sess.), § 37, eff. May 15, 2012; 2013, No. 60, §§ 1, 2; 2013, No. 73, § 38, eff. June 5, 2013; 2013, No. 80, § 11; 2013, No. 92 (Adj. Sess.), § 283, eff. Feb. 14, 2014; 2013, No. 174 (Adj. Sess.), §§ 57, 58, eff. Jan. 1, 2015; 2013, No. 174 (Adj. Sess.), §§ 59, 60; 2015, No. 46, § 27; 2015, No. 57, § 59, eff. June 11, 2015; 2015, No. 132 (Adj. Sess.), § 3a, eff. July 1, 2017; 2015, No. 157 (Adj. Sess.), § H.5, eff. Jan. 1, 2017.)