Welcome to Lyndon!

REAPPRAISAL QUESTIONS ANSWERED 

How often is a reappraisal done in the Town/City, and why are we doing one now?
A span between reappraisals creates more opportunity for inequities to grow and usually leads to much larger and unpredictable changes to property values. As inequities increase, the tax burden on individual property owners becomes unfair. Remember that the tax value used for 2025 is the appraised value from the last reappraisal in 2011, or based on any changes since 2011due to permits, grievances, etc. Over the past 14 years, some property values have gone up or down significantly.

Why should I allow a Field Appraiser to enter my property or in my home for the reappraisal?
Part of the reappraisal process is the collection of physical characteristics that include, but are not limited to, square footage of the house, roofing material, exterior siding, land size, number of bedrooms, number of bathrooms, and the quality and quantity of amenities. In addition, the quality of materials in the interior, as well as the condition of the interior helps capture depreciation. Homes that have more depreciation due to fewer upgrades and maintenance may see a decrease in value versus a home that has recent upgrades could see an increase in value.

The data collected during an interior inspection includes the number of bedrooms and bathrooms (considering full bathrooms, three-quarter bathrooms, and one-half bathrooms), and the assessrnent of the condition of the materials within the home, such as ‘flooring, walls, and ceilings. The quality of materials such as kitchen countertops, bathroorn vanity tops, and flooring are also considered. In addition, the type of heating or cooling systems, any finished basement area and foundation data are documented.

The Field Appraiser will gather similar data and information that a real estate agent would when listing a home on the market to sell, as well as similar data and information that a buyer would look for when purchasing a property. The sole purpose is to collect the correct data to assist in providing fair and equitable market value. Additionally, a part of the reappraisal process relies on the analysis of fair market sales that have sold in the past three yean; (years 2023, 2024, & 2025 will be utilized). The sales are analyzed and used as part of the creation of valuation models. Other data considered when creiating valuation models, besides the sales comparison, is market cost and market income. The valuation models are data sets embedded into a CAMA (Computer Assisted Mass Appraisal) system. The property data collected is input into the CAMA system, which generates the new assessments. The system is designed to analyze large volumes of data and can manage diverse property types.

If access to a property is denied, it forces Field Appraisers to base their collection of data from the exterior view only and make educated guesses about the interior features. Even if access to a property is denied, the property will be reassessed based on the best data available. It will not cause the property to be omitted from the reappraisal.

When the reappraisal project is complete, the State of Vermont Property Valuation and Review Tax Department conducts a test to ensure the project complies with the definition of a full reappraisal. One of the stipulations of a full reappraisal includes interior and exterior inspections of properties. Although we cannot force any property owner to give us access to their home and a property owner has the right to deny access, we must follow best practices as stipulated by the state. The purpose of the state’s test is to generate an equalization study, which is used to create a commone level of appraisal (CLA) used in setting education tax rates.

All property owners have the right to appeal the assessed value to the Assessor. If the Assessor denies the appeal, and it goes to the Board of Civil Authority (BCA) at least three (3) memebers of the BCA must inspect the property. If access is denied, it will cause an automatic withdrawal of the appeal (more detailed information about the appeal process is forthcoming as the reappraisal process nears completion).

What is the definition of a market value? 

Market value is the most probable price a property would bring in an open and competitive market. The Assessor does not create market value but analyzes the patterns and trends of the local real estate market and uses that information to estimate market values for all properties. Assessors spend a substantial amount of time qualifying all sales used to develop fair market values for property. Automated valuation models, or ‘AVMs’ such as those used by sites like Zillow or Trulia, do not research sales to determine if they meet requirements for qualification. These sites also do no have knowledge of local market variations.

How will a reappraisal impact on what I pay in property taxes? 

Property taxes are based on property values. Without poriodic reappraisals, some property owners would pay more while others vvould pay less. Reappraisal resets property values to their current market value so that the property tax burden is equalized for all taxpayers. Reappraisal assures every property owner they are only paying their fair share. However, appraisal and taxation are separate issues. The Assessor determines the market value, and the municipality and state tax rates have no impact on the valuation process. Each taxing authourity establishes its own tax rate. Municipal Tax Rates are set based on the need to raise money for municipality highways and general fund expenses. The municipal rate is levied against the municipal grand list. The Education Tax Rates are based on a homestead education tax rate and a non-homestead education tax rate, which are set annually by the commissioner of taxes. The Education Tax Rates are levied against all homestead and non-homestead parcels on the education grand list. Even if your assessment doubled, that does not mean your taxes would double. Remember the total grand list has changed as well. The tax rate will adjust because of the reappraisal.

I have not made any improvements to my house; how can the value go up or down?

That is because the market has changed since the last reappraisal. The last reappraisal was completed in 2011. At that time, the assessment was established and has not changed since that time. The purpose of the reappraisal is to bring the values established several years ago to current market values and to establish equity across parcels.

Business Emergency Gap Assistance Program (BEGAP)

Following July’s devastating floods, we once again find ourselves facing the immense challenge of rebuilding in communities across our state. With over 300 businesses reporting damage to 211, the Emergency Board has approved $7 million for rapid relief via the Business Emergency Gap Assistance Program (BEGAP).

The BEGAP portal will reopen soon, and applications will be considered on a rolling basis until all funds are expended. An additional $5 million is also available for ongoing recovery from the 2023 floods. We will be reaching out separately about those supplemental funds.

Please check back regularly for details on the reopening: https://accd.vermont.gov/flood

Lyndon Business Flood Recovery Fund 

The Lyndon Business Flood Recovery Fund has been created to support Lyndon’s independently owned small business owners impacted by the July 11, 2024 flooding. You are vital to our community, and the Town will do all we can to support you through this crisis.  This Fund will provide grants up to $3,500 to cover costs such as equipment replacement, operating expenses, supplies, help with clean-up, etc.

To apply for funds, please click here to complete the application.  A representative will reach out to you with questions if necessary.  If your application is approved, you can expect to receive a check within 2 weeks.  Funds will be distributed on a rolling basis until they are expended.

NOTICE

If you are on well or spring water and floodwaters reached your water source, you can access free water testing materials to ascertain whether contaminants made it into your water supply.

The link is https://www.healthvermont.gov/environment/drinking-water/residential-drinking-water-testing

It’s recommended to not use your well or spring if floodwaters reached it until you have tested your water.

THERE WILL BE NO RV DUMPING AT THE WASTEWATER TREATMENT FACILITY UNTIL FURTHER NOTICE DUE TO CONSTRUCTION.