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Property assessment changes

Vermont Title 32 of the Vermont State Statutes, Section 3481(1) dictates that the Income Approach to Value be used to assess real estate taxes for properties with subsidized housing units.

This statute makes it necessary for the owners/managers of subsidized housing to supply a detailed breakdown of all income and expenses to their local town listers. This information needs to be "certified by an independent third party" and, along with information from HUD and the Vermont Department of Taxes Division of Property Valuation and Review, is used to establish the assessed value of the property.

Read more about how this information is used by listers from the Vermont Department of Taxes Property Valuation and Review Division, including Valuation of Subsidized Housing Worksheet and Subsidized Housing Worksheet Instructions.