Land Use & Zoning
Under Vermont's municipal plan requirements, towns are encouraged to adopt a municipal development plan that:
ASets the exact price at which properties in each zone may be sold
BProvides a vision for future land use, transportation, housing, and community facilities✓ Correct
CMandates that all new development be reviewed by the Vermont Real Estate Commission
DProhibits any development for 10 years after adoption
Explanation
Vermont municipalities are encouraged to adopt municipal development plans that establish a vision and goals for future land use, transportation, housing, natural resources, and community facilities to guide zoning and development decisions.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Math Concepts
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