2005 Vermont Code - § 13-1309.1. — Description of budget limitations
§ 13-1309.1. Description of budget limitations
There shall be two limitations, neither of which shall be exceeded:
(1) Allowable tax rate for operation.
(A) If the anticipated grand list is less than the grand list for the current year, the anticipated tax rate for operations shall not exceed the tax rate for operations for the current fiscal year.
(B) If the anticipated grand list exceeds the grand list for the current fiscal year by less than 5%, the percentage increase in the tax rate for operations shall not exceed the percentage increase in the grand list.
(C) If (A) and (B) are not applicable, the anticipated tax rate for operations shall not exceed the tax rate for operations for the current fiscal year plus 5% of the current rate for operations.
(2) Allowable Net Cost of Operations: The proposed net cost of operations shall not exceed the net cost of operations of the current fiscal year plus 10% of the current net cost of operations.
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