How is the CLA used?

The State of Vermont conducts an Equalization Study each year on municipalities to see how close grand lists compare to fair market values with a goal of being 100%. The State’s finding estimated that Town/City assessed values averaged less than 70 percent of actual value in 2023. When the difference becomes that large, it’s likely that some properties are overvalued and others are undervalued — which introduces fairness questions around property tax bills.

Reappraisals evaluate whether all properties were treated fairly. If inequitable results are identified, the State’s Equalization Study is adjusted to ensure that a reasonably accurate estimate of value is determined by the study. Why is this important? 

The State uses the study to determine the Town’s/City’s share of the State Education tax. Bringing our municipal values in line with market values will mean that the Town/City are paying a share of the State education costs that’s fair for our communities.