2005 Vermont Code - § 13-1309.2. — Determination of tax rate for operations and net cost of operations

§ 13-1309.2. Determination of tax rate for operations and net cost of operations

(a) Tax rate for operations for the purpose of section 1309.1 shall be determined by dividing the grand list into the gross budget of the city or school district less the following deductions, if such items appear in the gross budget:

(1) Payments on account of bonded debt.

(2) Special appropriations.

(3) General state and federal aid except aid for debt service.

(4) Tuition income for nonresident students.

(5) Transfer payments.

(6) Federal and state aid designated for specific programs.

(7) Other non-tax revenue, including budget surplus from preceding year.

(8) Payments assessed against the city by other public bodies or quasi-public bodies such as the Chittenden County Transit Authority, Winooski Valley Park District and Chittenden County.

(b) Net cost of operations for the purpose of section 1309.1 shall be the gross budget of the city of school district less the following deductions (as defined in section 1309.3); if such items appear in the gross budget:

(1) Payment on account of bonded debt.

(2) Special appropriations.

(3) Revenue or expenditure deficit.

(4) Federal and state aid designated for specific programs.

(5) Transfer payments.

(6) Tuition income for non-resident students.

(7) Payments assessed against the city by other public bodies or quasi-public bodies such as the Chittenden County Transit Authority, Winooski Valley Park District and Chittenden County.