Terms Used In Vermont Statutes > Title 32 > Chapter 124 > Subchapter 1 - Agricultural Land and Managed Forestland Use Value Appraisal Program

• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• Agricultural land: means any land, exclusive of any housesite, in active use to grow hay or cultivated crops, pasture livestock, cultivate trees bearing edible fruit, or produce an annual maple product, and that is 25 acres or more in size, except as provided in this subdivision (1). See
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assessing officials: means the listers or other assessing authority of the municipality or the State of Vermont. See
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• biennially: shall mean the year in which a regular session of the General Assembly is held. See
• Board: means the Current Use Advisory Board established in section 3753 of this chapter. See
• Commissioner: means the Commissioner of Taxes. See
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Development: means , for the purposes of determining whether a land use change tax is to be assessed under section 3757 of this chapter, the construction of any building, road, or other structure, or any mining, excavation, or landfill activity. See
• Director: means the Director of the Division of Property Valuation and Review created by 3 V. See
• Ecologically significant treatment areas: means lands within a parcel of managed forestland that will be managed using protective or conservation management strategies and are not required to be managed for timber, including old forests; State-significant natural communities; rare, threatened, and endangered species; riparian areas; forested wetlands; and vernal pools. See
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Farm buildings: means all farm buildings and other farm improvements that are actively used by a farmer as part of a farming operation, are owned by a farmer or leased to a farmer under a written lease for a term of three years or more, and are situated on land that is enrolled in a use value appraisal program or on a housesite adjoining enrolled land. See
• Farmer: means a person:

• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Housesite: means the two acres of land surrounding a dwelling. See
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Managed forestland: means :

• Minimum acceptable standards for forest management: refer to certain standards established by the Commissioner of Forests, Parks and Recreation. See
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Owner: means the person who is the owner of any land or the lessee under a perpetual lease as defined in subsection 3610(a) of this title, provided the term of the lease is for a minimum of 999 years exclusive of renewals. See
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any individual, firm, corporation, partnership, or other form of organization or group of individuals. See
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Reserve forestland: means land that is managed for the purpose of attaining old forest values and functions in accordance with minimum acceptable standards for forest management and as approved by the Commissioner of Forests, Parks and Recreation. See
• road: shall include bridges thereon and their approaches. See
• said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
• Use value appraisal: means , with respect to land, the price per acre that the land would command if it were required to remain henceforth in agricultural or forest use, as determined in accordance with the terms and provisions of this subchapter. See