Welcome,  
|   
September 2nd, 2014

Public Comment Solicited on Draft Property Tax Exemption Legislation

 

The special interim Property Tax Exemption Study Committee has draft legislation that would make statutory changes to property tax exemptions for certain nonprofits. The hearing will be held in the State House on Monday, December 16th at 1pm in Room 11.

 

These changes are intended to clarify the tax exempt treatment of public, pious and charitable properties and include:

 

- Eligibility for a charitable or public exemption determined at the state level by the Tax Department’s Division of Property Valuation and Review

 

- Clarification of nature of exemptions for municipally-owned property

 

- Revision of the exemption for hospital property

 

- Mandatory municipal service fee agreements between colleges and universities and their host cities in towns

 

- Annual certification of fraternal organizations of the value of charitable work in return for the property tax exemption

 

- Additional municipal control over the local tax exemption status of charitable and public property

 

This is draft legislation that will be subsequently voted on by the Committee. A copy of the draft legislation is available at www.leg.state.vt.us/legdir/CommitteeInfo.cfm?CommitteeID=286

 

Written testimony is accepted to accommodate those who cannot attend the hearing.

QR Code – Take this post Mobile!
Use this unique QR (Quick Response) code with your smart device. The code will save the url of this webpage to the device for mobile sharing and storage.

Leave a Reply




Post Comment

 

left
Pause
Right
 
vt-world.com Webutation
 
The World Online
The World
403 US Route 302
Barre, VT 05641
Phone: (802) 479-2582
Copyright © 2014 The World Online