Property Valuation
When appraising Vermont farmland enrolled in the Current Use Program, an appraiser valuing the farm for its market value (not use value) should:
AUse only the Current Use assessed value from the grand list
BAppraise the property at its unrestricted market value, noting the Current Use enrollment and any Land Use Change Tax✓ Correct
CDeduct the entire Current Use tax liability from market value
DUse the income approach only
Explanation
An appraiser valuing Vermont farmland at market value should appraise it based on comparable sales and market conditions, while noting that Current Use enrollment could affect marketability and that withdrawal triggers a Land Use Change Tax. The Current Use assessed value is not the market value.
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