Grand List (Municipal/Education)
The assessed value base used to set municipal and education property tax rates; generally expressed as 1% of listed value for rate‑setting purposes. Towns maintain a municipal grand list for local taxes and an education grand list for school taxes (definitions and data/reporting guidance from VT Dept. of Taxes). [tax.vermont.gov], [winooskivt.gov]

Common Level of Appraisal (CLA)
A ratio from the State’s Equalization Study that “equalizes” education property tax rates to reflect how close a town’s listed values are to current fair market values; low CLA (<100%) means listed values trail market values. Starting with the 2025–26 property tax year (FY26), the CLA is adjusted using a statewide adjustment per Act 183 (2024). [legislature.vt.gov], [vlct.org], [Legislativ...ent of CLA]

Coefficient of Dispersion (COD)
A measure of equity in assessments within a town; values above 20% trigger a reappraisal under state standards. [brattleboro.gov], [Microsoft...5_4222.doc]

Equalization Study
Annual VT Dept. of Taxes analysis comparing listed values to sales to produce town CLAs/CODs and equalized values used in education tax rate setting. [legislature.vt.gov], [tax.vermont.gov]

Tax Rate Setting (Post‑Vote)
If voters approve specific dollar amounts (rather than a rate), the selectboard must set the tax rate needed to raise those amounts after the grand list is lodged. 17 V.S.A. § 2664. [vlct.org]

Fund Structure (General/Highway/Enterprise, etc.)
Vermont municipalities budget through multiple funds (e.g., General, Highway, Capital, Enterprise utilities). GASB standards and modified‑accrual basis apply to governmental funds. Local budget books (e.g., Burlington) illustrate common structures. [burlingtonvt.gov]

Capital Budget & Capital Program
A one‑year list of capital projects with costs and financing (capital budget) plus a five‑year look‑ahead (capital program). Requires project priority, financing sources (grants, impact fees, debt), and operating impacts. 24 V.S.A. § 4430; adoption process at § 4443. [legislatur...ermont.gov], [legislatur...ermont.gov]

Reserve/Capital Funds
Locally created funds to accumulate for future capital needs; typically referenced within the capital budget/program and appropriated by voters/board per local policy. (See statutory capital budget framework.) [legislatur...ermont.gov]

Municipal Grand List Stabilization (Flood Buyouts)
State payments to offset lost municipal tax base for properties acquired via flood buyouts (program created post‑2023 floods). 32 V.S.A. § 3710. [law.justia.com]

Town Meeting Warning / Town Report Budget Pages
The official “warning” lists all articles and must be posted at least 30 days in advance; town reports typically include detailed fund budgets and a tax‑rate worksheet. (See example town report.) [vershirevt.org]

Municipal Plan
The statutorily defined comprehensive plan guiding land use, housing, economic development, infrastructure, energy, flood resilience, and more; prepared by the Planning Commission and adopted by the legislative body. [legislatur...ermont.gov]

Planning Commission (PC)
Local board charged with preparing the municipal plan, recommending the capital budget/program, and drafting bylaws (zoning/subdivision); duties in 24 V.S.A. §§ 4321–4325 and ACCD manuals. [legislatur...ermont.gov], [accd.vermont.gov]

Development Review Board (DRB) / Zoning Board
Quasi‑judicial board administering local bylaws: site plan, conditional use, variances, and appeals (structure varies by municipality under Chapter 117). [legislatur...ermont.gov]

Zoning Bylaws & Subdivision Regulations
Regulatory tools to implement the municipal plan (districts, uses, dimensional standards, site plan/subdivision standards). [legislatur...ermont.gov]

Capital Budget/Program (Planning Link)
Planning Commission may submit annual recommendations; the capital program must conform to the plan. 24 V.S.A. § 4430(c). [legislatur...ermont.gov]

State Designation Programs
Vermont incentives for compact centers (e.g., Downtowns, Village Centers, Neighborhood Development Areas); updated by Act 181 (2024). [accd.vermont.gov], [accd.vermont.gov]

Municipal Planning Grants (MPG)
Competitive ACCD grants supporting local planning/bylaw work; current cycles and guidance published by ACCD. [accd.vermont.gov]

Selectboard (Legislative Body)
Governs the town unless a charter provides otherwise; responsible for setting tax rates, highway classifications, ordinances, warnings, and appointments; often works with a Town Manager where adopted. (See Title 24 index.) [legislatur...ermont.gov]

Town Manager Form (24 V.S.A. Ch. 37)
Manager is the administrative head of town government under the selectboard’s direction, with listed powers/duties (personnel, purchasing, supervision of departments), subject to statutory exceptions (e.g., cannot call town meeting). [legislatur...ermont.gov]

Town Clerk / Treasurer (Core Duties)
Election administration, vital records, land records, licensing, tax billing/collection support—detailed in VLCT’s Town Clerk’s Handbook. [highgatevt.org]

Dillon’s Rule (Authority of Municipalities)
Vermont municipalities have only those powers granted by the Legislature—foundation principle cited in VLCT budget law guidance. [vlct.org]

Open Meeting Law (OML)
All meetings of a public body are open to the public unless a specific exception applies; requires advance notice, agenda, minutes, and public participation opportunities. 1 V.S.A. §§ 310–314; 2024–25 changes include recording/posting requirements, agenda detail, and annual training. [legislatur...ermont.gov], [vlct.org]

Public Body / Meeting / Quorum (OML Definitions)
A public body includes boards/commissions/committees; a meeting is a quorum convened to discuss business or take action (with limited exceptions for scheduling/material distribution); a quorum is a majority of the body. [legislatur...ermont.gov], [southburli...gtonvt.gov]

Executive Session
Closed portion of a meeting permitted only for enumerated reasons (e.g., contracts, labor relations); must be entered (and now exited) by motion in open session; no binding action taken in executive session (with narrow statutory exception). [vlct.org]

Hybrid/Remote Participation
OML sets conditions for remote attendance and hybrid meetings; state decision‑making bodies have specific recording and access rules post‑2025 updates. [legislatur...ermont.gov]

Tax Increment Financing (TIF) District
A financing tool for public infrastructure in a defined district to catalyze private development; municipality retains a share (up to 70%) of incremental property tax revenue during the TIF period to repay debt; governed/authorized and overseen by VEPC with timelines and compliance rules. [accd.vermont.gov], [outside.vermont.gov]

Original Taxable Value (OTV) / Increment
OTV is the base grand list value when the district is established; the increment is the increase in value above OTV that generates revenue during the TIF retention period, per VEPC guidance. [outside.vermont.gov], [outside.vermont.gov]

VEPC (Vermont Economic Progress Council)
Independent council that authorizes and monitors TIF districts (and VEGI incentives); publishes rules, schedules, and annual reports. [accd.vermont.gov]

Town Meeting Day
First Tuesday in March: voters elect local officers, vote budgets, and act on public questions via floor vote, Australian ballot, or a mix—direct democracy at the municipal level. [commonsnews.org]

Warning (Town Meeting)
The official notice listing all articles to be considered; must be posted by statutory deadlines before Town Meeting. (See VLCT and local examples.) [vershirevt.org]

Australian Ballot (Local Elections)
A secret‑ballot method towns may adopt (by vote) for officers, budgets, and/or public questions; if a budget by Australian ballot fails, the revote must also be by Australian ballot, with a required informational hearing. 17 V.S.A. § 2680. [legislatur...ermont.gov], [vlct.org]