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Hi and welcome to Just Answer!By placing the land in Current Use you can decrease your annual property tax.Use change tax determination is based on the assessed value of the land enrolled divided by Common Level of Appraisal (CLA). For the 2013 tax year, the Current Use Advisory Board has established the following use values - see here - http://www.state.vt.us/tax/pvrcurrentuse.shtml
-- Agricultural Land $265/acre-- Forest Land $119/acre-- Forest Land greater than one mile from a Class 1, 2, or 3 Road $89/acre.According to this site - 1/3 of Vermont's total land area is enrolled into VT Current Use program. That is the evidence that tax savings are indeed very significant.
If you are looking for actual tax saving - here is information for 2011 (latest available) - http://www.leg.state.vt.us/reports/2012ExternalReports/274897.pdfpage 22 provide data for Current Use tax saving fro each municipality - that information may be used to estimate your possible saving.
thanks for the info. do you know who enforces the current use plan and what are penalties for violating current use?
Elizabeth Hunt (Current Use staff)(NNN) NNN-NNNNis responsible for discontinuances, appeals, & supervision.In case of violation - all tax saving will be re-assessed.You may withdraw from the program and there are some fees for that.