§ 322. Tax stabilization contract
(a) The City Council shall have the authority to enter into a contract with owners, lessees, bailees, or operators of agricultural, industrial, residential, or commercial real property for the purpose of:
(1) fixing and maintaining the valuation of such property on the grand list;
(2) fixing and maintaining the rate or rates of tax applicable to such property;
(3) fixing the amount in money that shall be paid as an annual tax upon such property; or
(4) fixing the tax applicable to such property at a percentage of the annual tax.
(b) The authority to enter into such contract shall be by vote of two-thirds of those present and voting at an annual or special meeting warned for that purpose for a contract relating to agricultural, commercial, residential, or industrial real property.
(c) The voters may provide general authority to the City Council to enter into such contracts as application is made or provide limited authority to the City Council to negotiate contracts that shall be effective upon ratification by a majority of those present and voting at an annual or special meeting warned for that purpose.
(d) Any contract entered into pursuant to this section:
(1) shall be for a period not in excess of 10 years;
(2) shall be filed with the City Clerk and shall be available for public inspection;
(3) may be with existing or new owners, lessees, bailees, or operators of such property or with persons who intend to become owners, lessees, bailees, or operators of such property; and
(4) may be applicable to existing agricultural property; renovations of or additions to existing agricultural, commercial, residential, or industrial real property; or to new agricultural, commercial, residential, or industrial real property. (Amended 2005, No. M-7, § 3.)
Structure Vermont Statutes
Title 24 Appendix - Municipal Charters
App § 101. Corporate existence retained
App § 102. General law application
App § 104. General corporate powers
App § 105. Ordinances—subject matter
App § 106. Ordinances; enforcement; adoption
App § 107. Ordinances; adoption process
App § 108. Filing of ordinances
App § 109. Reservation of powers to the City
App § 111. Bonding of City officials
App § 112. Amendment of charter
App § 201. Application of general laws
App § 202. Time of elections and meetings
App § 203. Special City and School District meetings
App § 207. Voting on request of the City Manager
App § 302. Regular meetings; meetings to be public; executive session
App § 303. Special meetings; quorum
App § 304. Role of Council in relation to administrative service appointment of committees
App § 305. Creation or continuation of departments, boards, offices
App § 306. Records of proceedings
App § 307. Powers of City; policy matters; appointment of certain officers
App § 309. Source of appropriations, expenditures
App § 311. Business or contracts between City and City officials or employees
App § 313. Sale or lease of City property
App § 314. Authority to borrow money, issue bonds, pledge credits
App § 315. Compensation of City officials
App § 317. Special assessments
App § 320. Authority to take land
App § 321. Collection of assessments; liens
App § 322. Tax stabilization contract
App § 401. Appointment and qualifications
App § 404. Duties and responsibilities
App § 406a. Capital improvement plan
App § 412. Duties of Treasurer
App § 414. Duties and responsibilities
App § 501. Creation and organization
App § 502. Creation and organization
App § 517. Appointment of Superintendent and principal; compensation; term
App § 602. Penalty and interest
App § 603. Treasurer’s warrant
App § 605. Local sales, rooms, meals, and alcoholic beverages option taxes