Equalization Study | Department of Taxes

Purpose

Vermont raises education funds through several tax sources, including a state education property tax. The state education property tax is based on each municipality’s grand list of properties. The Division of Property Valuation and Review (PVR) conducts an annual Equalization Study of all the municipal grand lists.

The primary purpose of the Equalization Study is to assess how close the properties on the grand lists compare to fair market value. The reference to equalization stems from the fact that most municipalities’ grand lists are not at 100% of fair market value in any given year. If the grand lists were always at 100% of fair market value, there would be no reason for the state to estimate market values and determine common levels of appraisal (CLA). The CLA is used to equalize the education property tax rates throughout the state.

The commissioner is required to determine the equalized education property tax grand list and coefficient of dispersion (COD) for each municipality in the State. 32 V.S.A. § 5405. The COD helps to ensure that property valuations within a municipality are equitable.

The results of the Equalization Study accomplish the following:

Determine education property tax rates
Determine whether a municipality must undergo a reappraisal
Determine taxes municipalities pay to the county

2024 Equalization Study Results

Municipal officials can access the town-level equalization study reports through the Vermont Department of Taxes Property Tax Information Exchange software (VTPIE). The results, including the Common Level of Appraisal (CLA), Coefficient of Dispersion (COD), and Equalized Education Property Value (EEPV), are summarized in the table below. Please note that municipalities may petition the Director of Property Valuation and Review for a redetermination of its EEPV and COD (32 V.S.A § 5408). See Statewide Adjustment for more information on the new statewide adjustment applied to the education funding formula.

If you cannot access the VTPIE system to obtain a copy of the equalization study report, please email tax.pvr@vermont.gov to request a copy.

2024 Equalization Study Results Letter (pdf)

2024 Certified Final Computation Sheet (pdf)

Download the 2024 Equalization Study Results Table (xlsx)

Town	County	Equalized Education Property Value (EEPV)	2024 Common Level of Appraisal (CLA)	2024 Coefficient of Dispersion (COD)	Statewide Adjustment (SA)	Adjustment Factor Applied to Education Tax Rates (CLA/SA)
Addison	Addison	320,269,697	66.59	19.97	72.36	92.03
Bridport	Addison	240,805,201	107.90	9.67	72.36	149.12
Bristol	Addison	557,054,714	64.43	19.80	72.36	89.04
Cornwall	Addison	394,449,634	58.39	23.98	72.36	80.69
Ferrisburgh	Addison	895,477,186	62.55	21.16	72.36	86.44
Goshen	Addison	48,164,954	57.70	38.73	72.36	79.74
Granville	Addison	67,222,232	60.26	33.64	72.36	83.28
Hancock	Addison	59,818,850	58.54	24.17	72.36	80.9
Leicester	Addison	313,838,458	59.06	26.30	72.36	81.62
Lincoln	Addison	295,607,286	106.17	15.78	72.36	146.72
Middlebury	Addison	1,392,605,425	71.01	14.99	72.36	98.13
Monkton	Addison	395,460,036	108.48	11.88	72.36	149.92
New Haven	Addison	491,053,452	67.08	18.61	72.36	92.7
Orwell	Addison	218,765,393	104.46	12.31	72.36	144.36
Panton	Addison	161,152,653	105.65	11.15	72.36	146.01
Ripton	Addison	112,784,103	61.59	30.45	72.36	85.12
Salisbury	Addison	321,444,251	97.83	9.11	72.36	135.2
Shoreham	Addison	237,997,767	107.28	11.11	72.36	148.26
Starksboro	Addison	265,799,847	111.34	15.14	72.36	153.87
Vergennes	Addison	369,890,995	64.75	16.43	72.36	89.48
Waltham	Addison	87,029,284	63.84	17.10	72.36	88.23
Weybridge	Addison	225,519,776	66.46	20.15	72.36	91.85
Whiting	Addison	52,853,116	72.66	17.44	72.36	100.41
Arlington	Bennington	465,419,715	69.63	25.38	72.36	96.23
Bennington	Bennington	1,481,145,258	64.55	23.04	72.36	89.21
Dorset	Bennington	1,166,902,770	60.74	23.08	72.36	83.94
Glastenbury	Bennington	5,703,308	58.84	11.07	72.36	81.32
Landgrove	Bennington	135,738,717	76.09	25.65	72.36	105.15
Manchester	Bennington	1,764,928,730	95.62	12.34	72.36	132.14
North Bennington	Bennington	112,112,511	64.25	22.86	72.36	88.79
Peru	Bennington	367,095,600	59.21	22.47	72.36	81.83
Pownal	Bennington	396,501,787	70.87	28.81	72.36	97.94
Readsboro	Bennington	149,573,762	75.31	22.29	72.36	104.08
Rupert	Bennington	212,148,678	64.45	29.86	72.36	89.07
Sandgate	Bennington	98,291,318	80.37	17.89	72.36	111.07
Searsburg	Bennington	49,015,502	93.86	19.20	72.36	129.71
Shaftsbury	Bennington	496,700,974	71.91	25.49	72.36	99.38
Shaftsbury ID	Bennington	85,681,013	72.22	25.49	72.36	99.81
Stamford	Bennington	161,535,599	104.78	11.74	72.36	144.8
Sunderland	Bennington	254,600,803	62.79	27.89	72.36	86.77
Winhall	Bennington	1,208,239,517	58.94	27.01	72.36	81.45
Woodford	Bennington	77,775,425	74.06	21.62	72.36	102.35
Barnet	Caledonia	352,787,334	70.80	20.88	72.36	97.84
Burke	Caledonia	443,463,772	91.47	15.01	72.36	126.41
Danville	Caledonia	466,352,765	72.96	24.40	72.36	100.83
Groton	Caledonia	206,087,672	64.13	26.39	72.36	88.63
Hardwick	Caledonia	323,976,114	60.22	25.90	72.36	83.22
Kirby	Caledonia	91,679,779	102.53	7.68	72.36	141.69
Lyndon	Caledonia	560,277,959	66.39	26.95	72.36	91.75
Newark	Caledonia	134,136,281	71.29	21.52	72.36	98.52
Peacham	Caledonia	203,920,570	69.27	20.97	72.36	95.73
Ryegate	Caledonia	191,101,307	73.81	20.25	72.36	102
Sheffield	Caledonia	83,818,218	69.91	29.35	72.36	96.61
St. Johnsbury	Caledonia	801,430,014	63.86	20.75	72.36	88.25
Stannard	Caledonia	27,171,471	71.03	39.91	72.36	98.16
Sutton	Caledonia	141,002,508	77.28	20.78	72.36	106.8
Walden	Caledonia	151,868,846	79.72	20.33	72.36	110.17
Waterford	Caledonia	283,325,323	77.68	21.05	72.36	107.35
Wheelock	Caledonia	101,557,333	66.02	23.17	72.36	91.24
Bolton	Chittenden	240,460,061	90.26	20.54	72.36	124.74
Buels Gore	Chittenden	4,781,458	101.25	1.92	72.36	139.93
Burlington	Chittenden	7,032,684,949	81.76	14.71	72.36	112.99
Charlotte	Chittenden	1,479,572,170	93.20	13.00	72.36	128.8
Colchester	Chittenden	3,701,396,093	61.51	18.56	72.36	85.01
Essex Jct.	Chittenden	2,082,177,293	54.85	9.18	72.36	75.8
Essex Town	Chittenden	2,946,625,801	54.83	12.03	72.36	75.77
Hinesburg	Chittenden	1,057,577,504	62.05	20.82	72.36	85.75
Huntington	Chittenden	369,326,634	59.52	20.82	72.36	82.26
Jericho	Chittenden	1,090,803,826	65.03	14.89	72.36	89.87
Milton	Chittenden	1,866,080,292	88.48	12.72	72.36	122.28
Richmond	Chittenden	854,015,236	92.84	10.74	72.36	128.3
Shelburne	Chittenden	2,682,400,776	62.40	16.50	72.36	86.24
South Burlington	Chittenden	5,732,280,399	74.45	12.92	72.36	102.89
St. George	Chittenden	137,127,618	65.03	28.25	72.36	89.87
Underhill	Chittenden	663,760,377	84.16	13.67	72.36	116.31
Westford	Chittenden	416,277,389	63.12	17.20	72.36	87.23
Williston	Chittenden	3,410,900,685	62.89	11.67	72.36	86.91
Winooski	Chittenden	1,019,514,416	103.55	8.89	72.36	143.1
Bloomfield	Essex	43,125,417	71.40	21.25	72.36	98.67
Brighton	Essex	226,835,742	63.28	29.72	72.36	87.45
Brunswick	Essex	19,260,223	98.19	1.57	72.36	135.7
Canaan	Essex	124,069,903	88.76	15.74	72.36	122.66
Concord	Essex	180,524,590	97.07	12.63	72.36	134.15
East Haven	Essex	37,367,086	73.09	12.65	72.36	101.01
Essex County Unified UTG	Essex	91,358,092	99.29	3.84	72.36	137.22
Granby	Essex	25,468,709	71.71	11.88	72.36	99.1
Guildhall	Essex	51,061,320	95.10	7.22	72.36	131.43
Lemington	Essex	24,457,907	71.55	21.26	72.36	98.88
Lunenburg	Essex	172,238,719	101.44	11.46	72.36	140.19
Maidstone	Essex	109,263,855	103.69	9.34	72.36	143.3
Norton	Essex	51,320,481	84.19	21.96	72.36	116.35
Victory	Essex	28,979,677	65.72	19.40	72.36	90.82
Bakersfield	Franklin	178,280,376	68.68	30.49	72.36	94.91
Berkshire	Franklin	202,051,878	67.03	20.48	72.36	92.63
Enosburgh	Franklin	331,364,219	65.92	24.31	72.36	91.1
Fairfax	Franklin	785,777,351	86.45	13.41	72.36	119.47
Fairfield	Franklin	316,383,562	100.01	10.40	72.36	138.21
Fletcher	Franklin	224,695,514	95.24	16.11	72.36	131.62
Franklin	Franklin	259,493,803	65.23	27.34	72.36	90.15
Georgia	Franklin	996,579,651	63.84	16.52	72.36	88.23
Highgate	Franklin	582,018,554	73.21	23.98	72.36	101.17
Montgomery	Franklin	265,544,799	63.88	22.02	72.36	88.28
Richford	Franklin	244,339,286	97.27	12.39	72.36	134.43
Sheldon	Franklin	335,799,140	69.61	15.74	72.36	96.2
St. Albans City	Franklin	946,288,323	55.32	17.88	72.36	76.45
St. Albans Town	Franklin	1,429,693,649	66.97	19.26	72.36	92.55
Swanton	Franklin	1,007,169,251	69.91	17.34	72.36	96.61
Alburgh	Grand Isle	458,689,136	63.72	26.79	72.36	88.06
Grand Isle	Grand Isle	711,171,838	64.75	19.49	72.36	89.48
Isle La Motte	Grand Isle	213,410,323	62.11	27.78	72.36	85.83
North Hero	Grand Isle	513,441,108	62.02	20.84	72.36	85.71
South Hero	Grand Isle	870,936,359	57.75	20.25	72.36	79.81
Belvidere	Lamoille	60,845,574	75.83	29.09	72.36	104.8
Cambridge	Lamoille	820,100,107	62.03	22.72	72.36	85.72
Eden	Lamoille	230,775,236	63.86	23.25	72.36	88.25
Elmore	Lamoille	288,573,624	59.05	28.11	72.36	81.61
Hyde Park	Lamoille	502,102,749	58.15	27.38	72.36	80.36
Johnson	Lamoille	354,917,426	68.77	24.23	72.36	95.04
Morristown	Lamoille	1,184,017,129	97.19	11.84	72.36	134.31
Stowe	Lamoille	5,005,393,667	105.77	13.66	72.36	146.17
Waterville	Lamoille	98,148,968	89.18	19.52	72.36	123.24
Wolcott	Lamoille	250,111,002	67.24	28.96	72.36	92.92
Bradford	Orange	378,633,952	63.60	24.47	72.36	87.89
Braintree	Orange	161,496,807	68.78	26.09	72.36	95.05
Brookfield	Orange	243,830,429	84.23	18.99	72.36	116.4
Chelsea	Orange	221,598,245	59.07	34.61	72.36	81.63
Corinth	Orange	219,154,013	70.96	31.68	72.36	98.07
Fairlee	Orange	300,073,917	97.69	9.57	72.36	135.01
Newbury	Orange	313,506,296	66.04	28.06	72.36	91.27
Orange	Orange	139,975,904	73.20	28.11	72.36	101.16
Randolph	Orange	646,256,286	103.12	12.62	72.36	142.51
Strafford	Orange	270,347,083	71.34	22.38	72.36	98.59
Thetford	Orange	569,383,648	63.60	25.07	72.36	87.89
Topsham	Orange	167,716,350	67.95	23.38	72.36	93.91
Tunbridge	Orange	254,327,639	65.08	21.04	72.36	89.94
Vershire	Orange	120,377,952	96.11	11.63	72.36	132.82
Washington	Orange	157,115,549	69.04	30.22	72.36	95.41
Wells River	Orange	40,888,147	68.47	27.59	72.36	94.62
West Fairlee	Orange	106,685,789	71.37	14.92	72.36	98.63
Williamstown	Orange	504,594,569	72.48	20.65	72.36	100.17
Albany	Orleans	132,768,214	79.10	27.83	72.36	109.31
Barton	Orleans	255,543,384	62.73	28.54	72.36	86.69
Brownington	Orleans	131,665,430	69.98	26.77	72.36	96.71
Charleston	Orleans	157,982,437	72.71	18.18	72.36	100.48
Coventry	Orleans	194,197,518	74.49	20.64	72.36	102.94
Craftsbury	Orleans	225,908,180	65.11	25.17	72.36	89.98
Derby	Orleans	819,521,791	67.36	20.66	72.36	93.09
Glover	Orleans	229,642,699	71.32	22.52	72.36	98.56
Greensboro	Orleans	400,012,024	63.35	28.05	72.36	87.55
Holland	Orleans	104,737,858	56.80	29.35	72.36	78.5
Irasburg	Orleans	182,766,465	63.66	19.80	72.36	87.98
Jay	Orleans	399,203,722	74.29	25.22	72.36	102.67
Lowell	Orleans	150,470,963	62.39	26.74	72.36	86.22
Morgan	Orleans	290,443,242	60.10	23.42	72.36	83.06
Newport City	Orleans	495,224,279	65.88	26.60	72.36	91.04
Newport Town	Orleans	287,945,910	73.05	21.74	72.36	100.95
Orleans ID	Orleans	82,340,510	63.21	28.54	72.36	86.69
Troy	Orleans	207,991,556	99.34	8.72	72.36	137.29
Westfield	Orleans	119,790,760	62.20	28.21	72.36	85.96
Westmore	Orleans	236,990,791	66.90	24.23	72.36	92.45
Benson	Rutland	167,487,682	64.21	24.46	72.36	88.74
Brandon	Rutland	520,378,129	67.62	21.81	72.36	93.45
Castleton	Rutland	824,824,174	61.44	20.66	72.36	84.91
Chittenden	Rutland	271,501,806	65.62	16.48	72.36	90.69
Clarendon	Rutland	375,474,324	68.44	22.46	72.36	94.58
Danby	Rutland	234,779,419	103.24	15.07	72.36	142.68
Fair Haven	Rutland	238,854,525	79.22	23.43	72.36	109.48
Hubbardton	Rutland	185,265,772	60.30	27.15	72.36	83.33
Ira	Rutland	68,858,491	68.47	25.34	72.36	94.62
Killington	Rutland	1,621,966,160	45.90	31.01	72.36	63.43
Mendon	Rutland	314,841,713	77.26	21.46	72.36	106.77
Middletown Springs	Rutland	130,838,483	69.97	21.07	72.36	96.7
Mount Holly	Rutland	439,674,014	66.11	25.82	72.36	91.36
Mount Tabor	Rutland	30,061,541	76.52	15.45	72.36	105.75
Pawlet	Rutland	262,965,546	66.97	19.06	72.36	92.55
Pittsfield	Rutland	168,188,445	75.76	22.27	72.36	104.7
Pittsford	Rutland	547,275,746	63.03	24.41	72.36	87.11
Poultney	Rutland	515,271,481	67.91	21.30	72.36	93.85
Proctor	Rutland	172,787,766	72.09	19.79	72.36	99.63
Rutland City	Rutland	1,515,582,152	63.94	25.81	72.36	88.36
Rutland Town	Rutland	916,880,920	72.91	23.69	72.36	100.76
Shrewsbury	Rutland	232,206,045	68.17	22.76	72.36	94.21
Sudbury	Rutland	137,913,000	71.70	20.29	72.36	99.09
Tinmouth	Rutland	135,900,900	99.94	15.90	72.36	138.11
Wallingford	Rutland	347,988,885	67.24	24.17	72.36	92.92
Wells	Rutland	271,658,552	95.67	9.50	72.36	132.21
West Haven	Rutland	41,387,975	75.60	15.78	72.36	104.48
West Rutland	Rutland	294,507,981	71.11	19.05	72.36	98.27
Barre City	Washington	756,990,326	67.62	24.00	72.36	93.45
Barre Town	Washington	1,187,006,694	78.52	16.07	72.36	108.51
Berlin	Washington	748,818,217	67.38	22.08	72.36	93.12
Cabot	Washington	267,731,944	95.61	18.35	72.36	132.13
Calais	Washington	334,037,221	62.68	26.60	72.36	86.62
Duxbury	Washington	271,348,457	63.96	20.79	72.36	88.39
East Montpelier	Washington	518,223,946	61.59	22.20	72.36	85.12
Fayston	Washington	717,626,931	54.79	23.70	72.36	75.72
Marshfield	Washington	214,040,784	74.26	18.71	72.36	102.63
Middlesex	Washington	366,827,852	65.33	22.31	72.36	90.28
Montpelier	Washington	1,388,238,290	92.42	10.76	72.36	127.72
Moretown	Washington	371,859,987	103.75	12.05	72.36	143.38
Northfield	Washington	549,811,456	60.77	26.55	72.36	83.98
Plainfield	Washington	191,917,085	62.19	22.94	72.36	85.95
Roxbury	Washington	102,277,016	89.99	15.71	72.36	124.36
Waitsfield	Washington	686,129,781	57.31	26.09	72.36	79.2
Warren	Washington	1,481,252,622	52.43	27.26	72.36	72.46
Waterbury	Washington	1,411,365,528	56.62	18.08	72.36	78.25
Woodbury	Washington	211,524,892	63.77	21.66	72.36	88.13
Worcester	Washington	166,909,766	58.59	26.84	72.36	80.97
Athens	Windham	51,701,479	73.06	15.84	72.36	100.97
Brattleboro	Windham	1,614,561,152	70.26	19.54	72.36	97.1
Brookline	Windham	107,972,172	68.55	21.48	72.36	94.73
Dover	Windham	1,745,779,940	61.71	21.32	72.36	85.28
Dummerston	Windham	405,776,105	70.48	20.52	72.36	97.4
Grafton	Windham	221,596,214	71.92	21.57	72.36	99.39
Guilford	Windham	372,905,183	90.69	12.18	72.36	125.33
Halifax	Windham	178,237,316	70.91	25.39	72.36	98
Jamaica	Windham	468,588,786	56.63	28.35	72.36	78.26
Londonderry	Windham	686,268,529	62.65	23.60	72.36	86.58
Marlboro	Windham	213,738,174	74.80	19.89	72.36	103.37
Newfane	Windham	401,776,584	63.89	27.37	72.36	88.29
Putney	Windham	381,143,564	99.57	13.13	72.36	137.6
Rockingham	Windham	684,364,422	67.69	24.51	72.36	93.55
Somerset	Windham	13,933,658	96.35	5.81	72.36	133.15
Stratton	Windham	1,265,627,348	93.45	15.94	72.36	129.15
Townshend	Windham	293,316,678	66.47	25.46	72.36	91.86
Vernon	Windham	452,871,971	88.57	21.35	72.36	122.4
Wardsboro	Windham	248,276,561	91.29	17.04	72.36	126.16
Westminster	Windham	430,647,801	68.40	28.15	72.36	94.53
Whitingham	Windham	389,617,058	71.33	23.67	72.36	98.58
Wilmington	Windham	1,255,336,633	91.38	18.23	72.36	126.29
Windham	Windham	170,723,115	101.99	16.87	72.36	140.95
Andover	Windsor	257,923,842	62.81	27.57	72.36	86.8
Baltimore	Windsor	28,004,219	95.96	10.70	72.36	132.61
Barnard	Windsor	477,911,922	98.38	9.88	72.36	135.96
Bethel	Windsor	305,189,323	67.26	24.62	72.36	92.95
Bridgewater	Windsor	288,419,435	107.08	18.30	72.36	147.98
Cavendish	Windsor	426,155,081	62.10	29.65	72.36	85.82
Chester	Windsor	612,288,751	66.02	20.31	72.36	91.24
Hartford	Windsor	2,520,322,815	55.96	23.38	72.36	77.34
Hartland	Windsor	723,980,092	64.43	23.73	72.36	89.04
Ludlow	Windsor	2,325,418,846	66.75	22.97	72.36	92.25
Norwich	Windsor	1,259,220,342	61.81	20.43	72.36	85.42
Plymouth	Windsor	500,594,938	48.80	30.79	72.36	67.44
Pomfret	Windsor	365,346,745	91.75	14.26	72.36	126.8
Reading	Windsor	175,051,072	97.77	8.48	72.36	135.12
Rochester	Windsor	296,761,578	57.04	41.12	72.36	78.83
Royalton	Windsor	380,957,603	71.85	19.38	72.36	99.3
Sharon	Windsor	251,519,328	66.39	19.46	72.36	91.75
Springfield	Windsor	829,630,501	76.29	20.87	72.36	105.43
Stockbridge	Windsor	210,450,039	55.69	24.48	72.36	76.96
Weathersfield	Windsor	514,835,073	64.71	23.95	72.36	89.43
West Windsor	Windsor	429,946,125	108.04	12.93	72.36	149.31
Weston	Windsor	334,682,670	62.89	29.52	72.36	86.91
Windsor	Windsor	364,944,206	103.09	13.09	72.36	142.47
Woodstock	Windsor	1,687,315,817	56.80	22.58	72.36	78.5