2013 Vermont Statutes
Title 32 Taxation and Finance
Chapter 123 HOW,WHERE,AND TO WHOM PROPERTY IS TAXED
§ 3708 Payments in lieu of taxes for lands held by the Agency of Natural Resources
3708. Payments in lieu of taxes for lands held by the Agency of Natural Resources
(a) All ANR land, excluding buildings or other improvements thereon, shall be appraised at fair market value by the Director of Property Valuation and Review and listed separately in the grand list of the town in which it is located. Annually, the State shall pay to each municipality an amount which is the lesser of:
(1) one percent of the Director's appraisal value for the current year for ANR land; or
(2) one percent of the current year use value of ANR land enrolled by the Agency of Natural Resources in the Use Value Appraisal Program under chapter 124 of this title before January 1999; except that no municipality shall receive in any taxable year a State payment in lieu of property taxes for ANR land in an amount less than it received in the fiscal year 1980.
(b) "ANR land" in this section means lands held by the Agency of Natural Resources.
(c) "Municipality" in this section means an incorporated city, town, village, or unorganized town, grant or gore in which a tax is assessed for noneducational purposes.
(d) "Fair market value" in this section shall be based upon the value of the land at its highest and best use determined without regard to federal conservation restrictions on the parcel or any conservation restrictions under a state agreement made with respect to the parcel.
(e) The Selectboard of a town aggrieved by the appraisal of property by the Division of Property Valuation and Review under this section may, within 21 days after the receipt by the town listers of notice of the appraisal of its property by the Division of Property Valuation and Review, appeal from that appraisal to the Superior Court of the district in which the property is situated. (Added 1999, No. 1, 106c, eff. March 31, 1999; amended 2005, No. 38, 19, eff. June 2, 2005.)
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