MONTPELIER – November 22, 2013 – (RealEstateRama) — 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 1:00 pm 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 online at www.leg.state.vt.us/legdir/CommitteeInfo.cfm?CommitteeID=286
Written testimony is accepted to accommodate those who cannot attend the hearing.