The municipal grand list is the value used to raise municipal taxes. It includes any personal property taxable at the local level and excludes locally voted exemptions. Properties subject to local stabilization agreements are included at their stabilized values. 1% of the listed value is established by the local assessing officials.
Education Grand List
The “education property tax grand list” (education grand list) is 1% of the education property value. 32 V.S.A. Section 5404. This is a value established by the listers. It does not include business inventory and generally does not include business machinery and equipment. It does include the value of properties exempted by local vote (if not “grandfathered”), and it includes the full value of properties subject to local stabilization agreements.