The Town of Colchester phased out the business personal property tax over a 5 year period, back in 1993. The language read:

Shall the Town of Clchester repeal the tax on business personal property as provided for in 32 VSA. Section 3849 and recommended by the Board of Selectmen beginning April 1, 1994 and effective April 1, 1998. Said action would be accomplished by applying an annual equalization ratio to the 1993 business personal property accounts of .80, .60, .40, .20 and 0 respectively over a five (5) year period thereby reducing the assessed value of reporting business personal property until said values are equal to zero ($0.00)?

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?