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Tax department reports sharp increases in Vermont property values, urges reappraisal rollout
Summary
The Tax Department told the Senate Finance Committee that Vermont's equalized education property value rose about 14% over the prior year, the statewide common level of appraisal (CLA) is near 72%, and the department is implementing a six‑year reappraisal cycle while managing a high current‑use enrollment.
Jill Remick, director of Property Valuation and Review (a unit of the Vermont Department of Taxes), briefed the Senate Finance Committee on Jan. 23 on the department's annual property‑valuation report, which includes equalization results, reappraisal status and current‑use program data.
Remick said the "total actual equalized education property value increased by about 14%," following double‑digit increases in the prior two years. She told senators that such sustained growth has complicated tax‑rate calculations and prompted recent changes in how the state applies common level of appraisal (CLA) adjustments in the tax‑rate calculation.
Jake Feldman of the Tax Department explained the procedural change: comparing town CLAs to a statewide CLA at an earlier step in the tax‑rate calculation reduces the year‑to‑year volatility that had appeared on school district bills. "So there's no impact to individuals' property taxes or what towns pay the Ed Fund; it's a total wash mathematically, but the point of it is" to avoid confusing swings in published yields and CLAs, he said.
Remick and department staff highlighted several data points and program details:
- The statewide CLA is about 72%, down from higher levels in prior years, reflecting sales prices that exceed listed values in many towns.
- The department is implementing the six‑year reappraisal cycle required under Act 68 (2023). Remick said about 37 towns were conducting a reappraisal in 2025, while roughly 60 towns (about 24% of municipalities) had not reappraised in more than 15 years.
- Current use enrollment covers roughly 19,692 parcels representing a large share of Vermont acreage; Remick cited a long‑term total of roughly 2,570,000 acres enrolled in the Current Use program. The department processed about 1,800 current‑use applications in the latest cycle, including new enrollments, additions and many transfers where ownership or trusts required administrative review.
Remick discussed the current‑use land‑use change tax and said the statutory penalty for removing a parcel from the program when the whole parcel is withdrawn is 10% of the enrolled acreage value; for partial withdrawals, the department uses a standalone valuation of the new parcel portion.
She also summarized the property tax administration work the division performs: equalization studies, training and certification for listers and assessors, exemptions review, and managing statewide systems such as the Current Use software (EQS) and the statewide grand list maintenance tools. The department authorizes per‑parcel payments to towns to support equalization and reappraisal activity and administers several statutory grant programs tied to property valuation work.
Remick said the Current Use Advisory Board will meet Feb. 12 to set use values for the coming year. She urged committees to coordinate with the Tax Department as lawmakers consider any near‑term tax or education funding changes that could interact with reappraisal schedules and municipal budget cycles.
Why it matters: Rapidly rising property values change the math behind statewide yields and local tax rates, complicating school‑budget planning and taxpayer communications. The Tax Department told senators it is implementing statutory changes intended to smooth rate calculations and is working to expand and regularize reappraisals across the state to reduce inequities in local assessment practice.
