The total “Equalized” Listed Value (LV) – Property Values – statewide went up by a modest 0.6% between 2015 and 2016 (rose 1.4% from 2014 to 2015). Two major factors contribute to growth in the grand list; new construction and reappraisals (which may result from property improvements or market gains). However other policy factors determine a property’s contribution to ELV as well.
One of the changes Vermont is experiencing is a shift in source of personal income. A lower proportion of income has been coming from earnings over time, and a higher proportion from retirement income, which reflects an aging population as well as reliance on some form of benefit.
Measured in nominal, or real dollars.