DIVISION OF PROPERTY VALUATION AND REVEIW
Section 1 Purpose
Section
3475 of Title
16 provides that a school district will have a listing penalty subtracted from
their state aid if their listed value is less than eighty percent of the
aggregate fair market value certified by the director of Property Valuation and
Review. It further provides that this penalty may be waived if the town is
making "reasonable progress toward completing a reappraisal." It is the purpose
of this rule to spell out clearly to local towns and school districts what
standards will be used to determine whether a town is making "reasonable
progress toward completing a reappraisal."
Section 2 Listing Penalty
A. A municipality will be judged to be making
reasonable progress toward completing the reappraisal if they provide the
director with the following by April 1 of any given year:
1. a request for certification of reasonable
progress;
2. if the municipality
has contracted for a reappraisal, a copy of the contract with a reputable mass
appraisal firm or individual showing a grand list completion date in line with
the schedule described under # 5 below;
3. if the municipality is planning to conduct
its own reappraisal, proof of the appraiser's qualifications and abilities
including samples of completed appraisal cards, and evidence that they have
completed an amount of the work proportional to the period of time worked and
the time left to complete the grand list;
4. evidence that municipal funds have been
made available to complete the reappraisal;
5. a schedule showing the completion dates of
various appraisal activities including the date by which all properties shall
have been inspected, the date by which all of the value estimates shall have
been made, the date by which the values shall have been reviewed by the
listers, the date by which the grand list and notices of change of appraisals
shall have been made.
B.
A town receiving certification of progress shall complete a reappraisal and
adjust its grand list that same year; however, a town requesting a
certification prior to April 1, 1984, shall be expected to complete a
reappraisal and adjust its grand list not later than 1985.
C. The listing penalty may not be waived for
more than two consecutive years. A town which previously received certification
of reasonable progress and requests certification again in 1985 will be
required to show the completion of a substantial part of the reappraisal and
evidence that the reappraisal will be completed and used for the 1985 grand
list. After 1984 the listing penalty may not be waived for two consecutive
years.
D. In 1984, the towns
already certified in October, 1983 need not be recertified.
