Barre City did it gradually.  Here’s the language from the 1997 annual (town) meeting ballot:

Shall the Voters of the City of Barre, Vermont approve the elimination of the Business Person Property Tax as follows:

Any Business Personal Property placed into service on or after April 1, 1998 will be totally exempt from the Business Personal Property Tax, and:

Any Business Personal Property placed into service prior to April 1, 2998 will be subject to a declining valuation to be phased out over a five (5) year period, in dqual amounts of 20% reduction each year, beginning on April 1, 1998?

Carol D

Carolyn S. Dawes

Barre City Clerk/Treasurer

6 North Main St.

PO Box 418

Barre, VT   05641

(802) 476-0242 phone

(802) 476-0264 fax

www.barrecity.org

From: Vermont Municipal Government Discussion Network [mailto:[log in to unmask]] On Behalf Of Lisa Barrett
Sent: Monday, January 17, 2011 9:34 AM
To: [log in to unmask]
Subject: Business Personal Property Tax

Lyndon is thinking about asking the voters to repeal the business personal property tax by eliminating a portion of reported value, say the first $75,000 of value.  Have any other towns done this and does anyone have sample article wording?