The Hold Harmless payment is designed to hold the municipality harmless from loss in municipal revenue resulting for the assessment of property at use value. 32 V.S.A. §3760. The methodology to calculate the payment is as follows:
- District tax rate set by municipality
- Total municipal listed value as of April 1, 20xx
- Total exempt reduction due to use value enrollment
- Adjusted Muni LV assuming no enrollment (B + C)
- Total municipal taxes assessed
- Previous hold harmless payment
- Total funds to be raised assuming no enrollment (E+F)
- Tax Rate assuming no enrollment (G/D*100)
- HOLD HARMLESS PAYMENT (C*H/100)
The Hold Harmless payment is based solely on the municipal tax rate unless the current use land is also located in a district on which your municipality levies an additional rate (“sub-municipal tax district”). In cases where current use land is known by PVR to be in sub-municipal tax districts, an estimate for payment for that sub-municipal tax district is also calculated. If any additional sub-municipal tax districts should be used in the Hold Harmless calculation, the town must notify PVR in writing in order for an additional sub-municipal tax rate to be applied.
As of FY17 this program is no longer administered as a grant.
Fiscal Year 2023 (Estimates)
The Department of Taxes has completed the preliminary calculation of FY23 hold harmless payments for land enrolled in current use. Payments are identified in the following report. Payments will be issued in November of 2022.
Prior Year Fiscal Reports (Actual)
|FY2022 Hold Harmless Report (xlsx)|
|FY2021 Hold Harmless Report (xlsx)|
|FY2020 Hold Harmless Report (xlsx)|
|FY2019 Hold Harmless Report (xlsx)|
|FY2018 Hold Harmless Report (xlsx)|
|FY2017 Hold Harmless Report (xlsx)|