Reappraisals

NEW for 2025: Act 68 of 2023 requires Vermont towns to reappraise every six years starting in January 2025, unless a longer period of time is approved by the Director of Property Valuation and Review (PVR). It repealed the statute that required reappraisal orders based on the common level of appraisal (CLA) but retained the coefficient of dispersion (COD) as a reason for the State to order towns to reappraise. Reappraisal Orders based on the CLA or COD prior to the passage of Act 68 remain in effect.

Towns that are planning a reappraisal must report to PVR. PVR will evaluate the planned reappraisal to determine whether the town’s plan will meet the goal of coming into compliance of the COD which is used in setting the education tax rates.

Please review the necessary reporting forms and step-by-step instructions of the reappraisal process. PVR has created a checklist for municipalities that outlines the steps to take before, during, and after a reappraisal.

What Is a Reappraisal

There are four generally accepted reappraisal activities.

1. A complete reappraisal is a re-assessment of all town properties including the following:

   • interior property inspections

   • development of new land and building pricing schedules

   • adjustments and factors.

The goal must be to implement new values for all properties that reflect 100% of fair market value.

2. Rolling reappraisal or (Cyclical Reappraisal) is a type of complete reappraisal. What differentiates a rolling reappraisal from a complete reappraisal is that it is conducted and implemented over more than one year.

3. Statistical update is a revaluation of all town properties but unlike a complete reappraisal does not require on-site property inspections except to confirm validity of data for a sample of properties. The goal must be to implement new values for all properties to reflect 100% of fair market value. If building permits are not required in your municipality and there is no program of systematic re-inspection of all property, this is likely not an acceptable method of establishing equitable values as any inequities that currently exist within the grand list may be magnified using a statistical update.

4. Partial reappraisal is a reappraisal activity that by design is targeted to either less than all properties in a town or adjustments to a limited number of factors that will result in a change of value but will generally not result in bringing the entire municipality to 100% market value. The goal of a partial reappraisal is to improve the appraisal equity among specific categories, types and/or neighborhoods of properties within a town by bringing them to approximately the same level of appraisal as the rest of the properties in that town.

Approved Appraisers and Appraisal Firms

Per the Rule on Required Appraisals “a list of individuals responsible for data collecting, performing appraisals and providing project supervision” must be submitted with the municipality’s Detailed Compliance Plan. Property Valuation and Review maintains a list of all firms, project supervisors, appraisers, and appraiser trainees who have satisfactorily demonstrated their qualifications according to Rule 86-P65.

View the current list of Approved Appraisers and Appraisal Firms, updated regularly. If you have questions about this list or the reappraisal process, please contact us at tax.pvr@vermont.gov.

Reappraisal Orders and Reappraisal Request for Proposals (RFP)

Municipal Officers can now post information regarding active or future Request for Proposal for reappraisal service on the Vermont Business Registry and Bid System which can be found on the Agency of Commerce and Community Development's (ACCD) website.

Reappraisal Fact Sheets, Guidance, Forms, and Instructions