Vermont Tax Department Issues Guidance to Localities on Valuing Buildings on Leased Land

Vermont Tax Department Issues Guidance to Localities on Valuing Buildings on Leased Land

The Vermont Department of Taxes has provided guidance to municipalities on a process for establishing a fair market value for buildings on leased land after the state's supreme court held in Lesage v. Town of Colchester that location-related factors may be included to establish the appraisal value of a building on leased land.

Lesage v. Town of Colchester <a href="/lr/resolve//1hd7"> <img src="//s3.amazonaws.com/binary.taxnotes.com/image/etl/doclink.gif" border="0" alt="2013 STT 132-39: State Court Opinions"/></a>.

This document was released August 20, 2015.

The Vermont Department of Taxes has provided guidance to municipalities on a process for establishing a fair market value for buildings on leased land after the state's supreme court held in Lesage v. Town of Colchester that location-related factors may be included to establish the appraisal value of a building on leased land.