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Veteran's exemption, vote to increaseJust a minor detail.  The exemption reduces the assessment which, of course, lowers the total tax due.  I had one veteran who thought the $10,000 came off the tax bill so now I am careful to explain the exact situation!  Nora
  ----- Original Message ----- 
  From: Grace, Mary Jane 
  To: [log in to unmask] 
  Sent: Tuesday, December 12, 2006 12:40 PM
  Subject: Veteran's exemption, vote to increase




  I've had a few questions on the change in the veteran's exemption amount.  Qualifying veterans' or survivors receive a $10,000 property tax exemption.  32 V.S.A. 3802(11). With the passage of Act 207 (see section 25 of that act), that amount can now be increased by a local vote to a maximum of $40,000.  The previous limit was $20,000.  As with other local agreements, the loss in school tax revenue that results from such a vote will need to be realized through the local agreement rate.  32 V.S.A. 5404a(d).  

  You can find Act 207 at: 

  http://www.leg.state.vt.us/docs/legdoc.cfm?URL=/docs/2006/acts/ACT207.HTM 

  Let me know if there are questions. 

  Mary Jane Grace 
  Property Valuation and Review Division 
  Vermont Dept. of Taxes 
  802-828-5863