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James C. Trzepacz, City Assessor |
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Download the 2007 Personal Property Report
Form [
HERE
]
DEPRECIATION: Consult your bookkeeper or accountant for
depreciation information. Generally, IRS depreciated values are
acceptable. Should you not utilize IRS methods, please be advised that
the City permits a depreciation of 10% per year for the first eight
years with a 20% residual value thereafter. Fair market value is not
necessarily the same as depreciated book value. Please estimate the
FAIR MARKET VALUE you would receive for your personal property in an
arms-length transaction and note this on the appropriate place on the
report form.
LEASED PROPERTY:
Please report the type of equipment and leasing company information if
you are not responsible for taxes. Our goal is to avoid having both lessor and lessee pay personal property tax on those items. If you are
uncertain, please, read your lease or contact your accountant or
bookkeeper for clarification.
REPORTING:
Personal property report forms must be returned by April 20th. Fax
available at 802-655-6414. |
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The City will be inspected in sections. Letters will be sent by neighborhood area with follow-up phone calls to make appointments. You should receive a letter sometime in the next 18 months requesting permission to inspect and measure the buildings on your property. The goal is to inspect the interior and exterior of all structures. Those involved in the project ask for your cooperation to set a time that is convenient for the inspection. Every effort will be made to accommodate unusual circumstances or schedules. Beginning September 1st, you may call the City Hall, (655-6410 – Extension 12) for further information. Someone will return the call as soon as possible. All appraisers entering your property will have identification. Each appraiser has a company ID and the vehicle will be marked “Vermont APPRAISAL Company”. You are encouraged to ask for the company ID card or contact the City Offices (Police Department or Clerk’s Office) if you see anything suspicious or doubt the authenticity of the appraiser. |