----- Original Message -----From: [log in to unmask] href="mailto:[log in to unmask]">Grace, Mary JaneSent: Tuesday, December 12, 2006 12:40 PMSubject: 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:
Let me know if there are questions.
Mary Jane Grace
Property Valuation and Review Division
Vermont Dept. of Taxes