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Old 04-25-2011, 06:13 PM
 
140 posts, read 677,230 times
Reputation: 57

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From my exhaustive research I think the place where I really want to live is Burlington, Vermont. But property taxes are too high for me. I wonder if I should buy a fixer upper which is assessed at a low property tax rate, then fix it up real nice
Could I avoid high taxes this way? Is this realistic? Is it legal?
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Old 04-25-2011, 06:57 PM
 
Location: on a dirt road in Waitsfield,Vermont
2,186 posts, read 6,830,154 times
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It is not illegal in Vermont to fix up your house.

Seriously, property assessment for tax purposes usually occurs if you make significant changes like an addition or a deck but it's not an exact science as many taxpayers challenge and win lowering their tax usually with the assessed valuation as the bone of contention. Fixing it up would not change the assessed vaulation much but would probably give a boost to your market value which would be set by a private appraiser.

Here is a link to the Burlington Assessors Office with an overview.
http://www.ci.burlington.vt.us/assessor/

Last edited by MRVphotog; 04-25-2011 at 07:14 PM..
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Old 04-25-2011, 07:02 PM
 
Location: Vermont
3,459 posts, read 10,275,634 times
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Not only that but if you are under a certain income level you get a prebate on your taxes.
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Old 04-25-2011, 07:47 PM
 
Location: The Woods
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Not in Burlington, but I know of people who intentionally make their place look like a dump outside, while being beautiful inside, to cut down on taxes.
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Old 04-25-2011, 08:31 PM
 
140 posts, read 677,230 times
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A prebate on my taxes? Interesting. Where could I find some more info on this?
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Old 04-26-2011, 05:41 AM
 
Location: Vermont
3,459 posts, read 10,275,634 times
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Vermont Real Estate Taxes Explained

Read the income sensitivity section
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Old 04-26-2011, 04:14 PM
 
Location: Winter Springs, FL
1,792 posts, read 4,665,184 times
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You can get away with it for the time being, but you won't get away with it for long. It all depends on how frequent the city does reappraisals. They also have the right to enter your home to inspect the interior. From the assessor's office: It is the policy of the Assessor's Office to conduct an interior and exterior inspection, when evaluating a property under review. A thorough property inspection is the fairest way to confirm property data and estimate the property’s value. A property review is warranted when a significant change has been made, the property recently transferred ownership, data errors are evident in the database or during a City-wide reappraisal.
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Old 04-26-2011, 04:26 PM
 
Location: The Woods
18,359 posts, read 26,518,556 times
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They'd conduct an interior inspection on a property I own over my dead body. But then, there's a reason I'd never live in Chittenden County in the first place...
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Old 04-27-2011, 08:17 AM
 
Location: Burlington burbs
130 posts, read 279,220 times
Reputation: 85
When we moved to Chitt last year we got our taxes reduced by an internal inspection so it goes both ways. We bought a fixer upper, fixed it up, and STILL got a reduction due to property prices dropped since its last evaluation. Used to live in Washington county and that too involved both internal and external inspection.
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Old 05-04-2011, 10:57 AM
 
140 posts, read 677,230 times
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arctichomesteader, Why would you never live in Chittenden County?
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