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VT H0134
Bill
Status
2/4/2025
Primary Sponsor
Charles Kimbell
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AI Summary
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Changes how land use change tax is calculated when only a portion of a parcel is removed from use value appraisal, switching from valuing the removed portion as a separate parcel to proration based on acreage
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Creates a new exemption from the 10% land use change tax for land withdrawn to develop affordable housing as defined in 24 V.S.A. § 4303(1)
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Exemption requires the withdrawn land to front an existing public road and be located within or no more than three miles from a State designated downtown, village center, planned growth area, or designated neighborhood
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Exemption prohibits the withdrawal from resulting in fragmentation of an existing parcel
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Effective date is July 1, 2025
Legislative Description
An act relating to calculating land use change tax and creating a new land use change tax exemption for developing affordable housing
Last Action
Rep. Kornheiser of Brattleboro moved that the Committee on Ways and Means be relieved of the bill and that the same be committed to the Committee on Agriculture, Food Resiliency, and Forestry, which was agreed to
2/6/2025