2022 Equalization Study Results
The 2022 Equalization Study Results are now available. Complete results, including the full three-year Certified Sales Report and Certified Final Computation sheets, are now available on the Vermont Department of Taxes website at https://tax.vermont.gov/municipal-officials. Early next week, towns will also be able to log into VTPIE to view and download their results.
Hard copy letters from the Director notifying municipalities of their calculated CLA and COD have been mailed by the Department as of December 22, 2022, to town officials, school boards and superintendents.
Every year we are required to certify the equalized education property value (EEPV or EEGL) and coefficient of dispersion (COD) for each Vermont town (32 V.S.A § 5406). Results of the annual Equalization Study are used for:
- Determining education property tax rates for the upcoming year
- Determining whether a municipality must undergo a reappraisal
- Determining taxes municipalities pay to the county
Instructions for Study results:
Towns should review their reports and reach out to their District Advisor with any questions.
A CLA of less than 85% or more than 115%, or a COD of more than 20%, will mean your town will be required to conduct a reappraisal per 32 VSA 4041a(b). Orders to Reappraise will be issued by the Director on or about July 1, following any resolution of appeals to the study.
Towns are allowed to petition for a redetermination, or appeal, the results under 32 VSA 5408. Such petitions must be received within 35 days of the notice being sent, and be signed by your legislative body (Selectboard/Alderman (Chair) in most towns). Detailed information on this appeal process, and additional information on the methodology, is available in the Introduction to Vermont’s Equalization Study and Certified Sales.
The real estate market growth alone is not a reason to appeal the study, as that is a measurable set of data based on three years of Property Transfer Tax Returns. Requests for redeterminations should be based on perceived error, such as omissions or inclusions of specific parcels, or mathematic errors.
Commissioner of Taxes Craig Bolio has released the December 1 education tax rate letter which forecasts the education tax yields for resident homeowners and the non-homestead tax rate for the upcoming fiscal year (FY) 2024. This letter includes important information about how the CLA interacts with individual property tax liability.
Thank you for your work on the study this year, especially in a new software system and with a hot real estate market. On to 2023!
Jill Remick | Director (she/her)