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The Vermont Statutes Online
Title
10
:
Conservation and Development
Chapter
025
:
VERMONT HOUSING FINANCE AGENCY
Subchapter
004
:
FORM AND NATURE OF BONDS AND NOTES
§
641. Tax exemption
(a) All property
of the agency is public property devoted to an essential public and
governmental function and purpose and is exempt from all taxes, franchise fees
and special assessments of whatever nature of the state or any subdivision. All
bonds or notes issued under this chapter are issued by a body corporate and
public of this state and for an essential public and governmental purpose and
those bonds and notes, and the interest thereon and the income therefrom, and
all activities of the agency and fees, charges, funds, revenues, incomes and
other moneys of the agency whether or not pledged or available to pay or secure
the payment of those bonds or notes, or interest thereon, are exempt from all
taxation, franchise fees or special assessments of whatever kind except for
transfer, inheritance and estate taxes.
(b) The agency
is not required to make or file any reports, statements or informational
returns required of any other bodies corporate except as provided in this
chapter.
(c)
Notwithstanding subsection (a) of this section, a tax lien on real property
which has attached pursuant to 32 V.S.A. § 5061 shall not be extinguished as a
result of the acquisition by the agency of property subject to such lien. No
real property owned by the agency on April 1 of any year shall be assessed for
taxes by any municipality and no lien for taxes pursuant to 32 V.S.A. § 5061
shall attach to such property whether or not the agency subsequently transfers
the property to a taxable person prior to April 1 of the following year. (Added
1973, No. 260 (Adj. Sess.), § 3, eff. April 11, 1974; amended 1983, No. 215
(Adj. Sess.), § 2, eff. May 10, 1984.)