Vermont Statutes Title 24 Sec. 1895
Terms Used In Vermont Statutes Title 24 Sec. 1895
- Financing: means debt incurred, including principal, interest, and any fees or charges directly related to that debt, or other instruments or borrowing used by a municipality to pay for improvements in a tax increment financing district, only if authorized by the legal voters of the municipality in accordance with section 1894 of this subchapter. See
- Legislative body: means the mayor and alderboard, the city council, the selectboard, and the president and trustees of an incorporated village, as appropriate. See
- Municipality: means a city, town, or incorporated village. See
- Original taxable value: means the total valuation as determined in accordance with 32 Vt. See
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
§ 1895. Original taxable value
(a) Certification. As of the date the district is created, the lister or assessor for the municipality shall certify the original taxable value and shall certify to the legislative body in each year thereafter during the life of the district the amount by which the total valuation as determined in accordance with 32 Vt. Stat. Ann. chapter 129 of all taxable real property located within the tax increment financing district has increased or decreased relative to the original taxable value.
(b) Boundary of the district. No adjustments to the physical boundary lines of a district shall be made after the approval of a tax increment financing district plan. (Added 1985, No. 87; amended 2013, No. 80, § 5; 2013, No. 174 (Adj. Sess.), § 10, eff. June 4, 2014; 2023, No. 72, § 34, eff. June 19, 2023.)