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Hi everyone,

I have a few questions today for you all, will start with this one.  I'm interested in hearing from any and all of you and also Mary Jane at PVR.

The largest taxpayer in our town (a corporation) is appealing their tax assessment.(It's going beyond the Listers and BCA).  If the town loses the appeal or settles for a lesser valuation, the Grand List will be significantly reduced, hence also reducing amount of taxes collected. 

 By law, the Town has to remit the school taxes within 20 days of the tax due date (Oct 15).  If the appeal is resolved and the GL reduced within those 20 days, the Listers will simply adjust the Grand List and Iíll remit the corresponding dollar amount to the school.

 However, if itís resolved and the GL is reduced AFTER the 20 days (which seems likely), I know that the  Town is still obligated to remit the current GL amount to the school within the 20 days.   My question is:  if the GL is reduced after those 20 days and Iíve already remitted the money to the school, how does the Town get the Education tax dollars back to pay back the taxpayer?  Does the school have to pay it back? Does the state do it?  How does it work

 Would appreciate your thoughts...

Laura