# 32 V.S.A. § 5404b: Hydroelectric property; conservation easements; transfers

> Vermont · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5404b

## Section

- **Citation:** 32 V.S.A. § 5404b
- **Heading:** Hydroelectric property; conservation easements; transfers
- **Jurisdiction:** Vermont
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** VT Code / Title 32 / Chapter 135 / Section 5404b

## Text

Notwithstanding any other provision of law, including the provisions of subdivisions 3481(1) and 3802(1) of this title:

(1) any real property subject to conservation easements granted pursuant to the terms of any agreement executed on or after January 1, 1997 between companies owning real property used for hydroelectric generation in this State and the State of Vermont shall continue to be assessed and property taxes collected as if such property were not subject to such easements;

(2) any real property purchased by the State pursuant to the terms of any agreement executed on or after January 1, 1997 between companies owning real property used for hydroelectric generation in this State and the State of Vermont, which property continues to be owned by the State or by some successor owner that would otherwise be exempt from property taxes, shall continue to be assessed and property taxes collected as if such property were not so purchased by the State; and

(3) any real property and fixtures used for hydroelectric generation and purchased by the Town of Rockingham on or after January 1, 2002, which property and fixtures continue to be owned by the Town of Rockingham and used for purposes of hydroelectric generation, shall continue to be listed on the education property tax grand list and assessed as if such property were not so purchased by the Town of Rockingham. The Town shall, in lieu of property taxes, pay to any governmental body authorized to levy property taxes the amount that would be assessable as property taxes on the real and tangible personal property if that property were the property of a utility. These payments shall be due, and bear interest if unpaid, as in the case of taxes on the property of a utility. For purposes of these payments in lieu of taxes, the assessors of the taxing authority shall make a valuation and assessment of the property and determine the tax that would be assessable if the property were owned by a utility. Payments in lieu of taxes made under this chapter shall be treated in the same manner as taxes for the purposes of all procedural and substantive provisions of law, including appeals, now and hereinafter in effect applicable to assessment and taxation of real and personal property, collection and abatement of these taxes, and the raising of public revenues.

## Nearby sections

- [32 V.S.A. § 5400 § 5400. Statutory purposes](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5400.md)
- [32 V.S.A. § 5401 § 5401. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5401.md)
- [32 V.S.A. § 5402 § 5402. Education property tax liability](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5402.md)
- [32 V.S.A. § 5402b § 5402b. Statewide education tax yields; recommendation of the Commissioner [Effective until July 1, 2027; see also 32 @ § 5402b effective July 1, 2027 set out below]](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5402b.md)
- [32 V.S.A. § 5402c § 5402c. Wind-powered electric generating facilities tax](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5402c.md)
- [32 V.S.A. § 5403 § 5403. Assessment districts](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5403.md)
- [32 V.S.A. § 5404 § 5404. Determination of education property tax grand list](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5404.md)
- [32 V.S.A. § 5404a § 5404a. Tax stabilization agreements; tax increment financing districts](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5404a.md)
- [32 V.S.A. § 5404b § 5404b. Hydroelectric property; conservation easements; transfers](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5404b.md)
- [32 V.S.A. § 5405 § 5405. Determination of equalized education property tax grand list and coefficient of dispersion](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5405.md)
- [32 V.S.A. § 5406 § 5406. Notice of fair market value and coefficient of dispersion](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5406.md)
- [32 V.S.A. § 5408 § 5408. Petition for redetermination](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5408.md)
- [32 V.S.A. § 5409 § 5409. Duties of municipalities and administration](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5409.md)
- [32 V.S.A. § 5410 § 5410. Declaration of homestead](https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5410.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_VT_T32_C135_S5404b. Check the current official text before relying on it. Not legal advice.