Assessors Office Functions and Budget Trends FY2022
Learn about the mission and activities of the Assessors Office including property valuation, appeal hearings, market analysis, and maintaining property data. Explore the staffing, budget trends, goals for FY2022, and key expenses and revenues.
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Presentation Transcript
BUDGET PRESENTATION FY2022 BUDGET PRESENTATION FY2022 BURLINGTON ASSESSOR S OFFICE Presented Thursday, May 20, 2021 6/6/2025 1
What does the Assessors office do? What does the Assessor s office do? Mission: Establish equitable property values so the distribution of the tax burden is fairly levied. Valuation of real estate and business property. Hold property value appeal hearings. Conduct real estate market analysis. Determine the Level of Appraisal for State Education funding formula through the sales market study . Maintain the property data base for public access. 6/6/2025 2
Assessor Staffing in FY22 Two full time temporary appraisers to assist with the final phase of the reappraisal project. These positions are necessary to handle the large volume of property valuation appeals in FY22. City Assessor Department manager appraises commercial and residential real estate, business equipment and special assessments. Deputy Assessor Appraises all commercial and residential real estate. Manages preparations for tax bills. Associate Assessor Appraises residential property, handles most clerical work and administrates hearings. Temporary part-time assistance in April and May. Assist Asssessor with Business Personal Property valuations. 6/6/2025 3
Budget Trends Fiscal Year 2021 Budget supports 3 full time staff and 2 temporary staff due to reappraisal (used dedicated funds) Fiscal Year 2022 Assessors budget supports same staffing levels Two FT Temps are: Assistant Commercial Appraiser Assistant Residential Appraiser Cost is approximately $95,000 Funding from VT act 60 funds = $105,000 Evening tax appeal meetings will require $5,000 for overtime work 6/6/2025 4
Assessor Office - Goals in FY22 A successful Reappraisal project Allow a reasonable time for property owners to file an appeal before the Board of Tax Appeals Have sufficient staff to handle the anticipated high volume of request for hearings before the BTA. Complete the hearings before 12/31/2021 Have sufficient funding to hire appraisers whom specialize in complex commercial properties. Consultant funds Pass VT Tax Department s independent 3-pronged test of the results of this reappraisal project. 6/6/2025 5
Key Budget Expenses and Revenues Expenses 3 Full time permanent staff Expenses 2 Full time temporary staff Expenses Operating budget less then 10%. Supports: public notification, training, supplies, and resources. Revenues State Grand List fund. >$105,000 annually. City-wide reappraisal project is in the final phase, which is attending hearings before the Board of Tax Appeals. A high volume of appraisal reviews, narrative reports, presentations and settlements in FY22. 6/6/2025 6
