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Vermont Department of Taxes Current Use Division 133 State Street Phone: (802) 8285860Use Value Appraisal ProgramVT FormFMR318*183181100*Montpelier, VT 056331401* 1 8 3 1 8 1 1 0 0 *FOREST MANAGEMENT.

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How to fill out the Use Value Appraisal Program 3 FMR-318 FOREST online

This guide provides comprehensive instructions for completing the Use Value Appraisal Program 3 FMR-318 FOREST online. Whether you are familiar with tax forms or new to the process, this step-by-step approach will help simplify your experience.

Follow the steps to successfully complete your form.

  1. Click ‘Get Form’ button to access the form and open it in the editor.
  2. Begin by filling out Section 1, which collects owner(s) information. Provide either the entity name or the individual's last name, first name, and initial, along with the federal identification number or social security number. Ensure to include a valid mailing address and daytime telephone number.
  3. If there is a second owner, fill out the same details for Owner #2. Repeat the process as needed if there are more owners, and attach Schedule FMR-319 for additional owners.
  4. In Section 2, provide the SPAN of the parcel and the town it is located in, along with the reporting year.
  5. Section 3 requires you to enter information for each stand. For each line, specify the stand number and the corresponding activities carried out.
  6. Complete the section for products harvested, including the volume for hardwood sawtimber, softwood sawtimber, firewood, pulp, and any other units harvested. You may also include comments regarding your activities.
  7. Section 4 entails collection of sap produced during sugaring activity. Enter the number of taps and optionally, the number of gallons of sap produced.
  8. Finally, in the signatures section, ensure that all owners sign and date the form. If an owner is signing on behalf of an entity, include the title.
  9. Once completed, save your changes. You may also choose to download, print, or share the form as necessary.

Complete your Use Value Appraisal Program 3 FMR-318 FOREST form online today!

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The land use change tax is calculated as 10% of the fair market value of the developed parcel or portion of a parcel. When a portion of a parcel is withdrawn or developed, the fair market value of the portion is determined by valuing the portion as a stand-alone parcel.

Owners who wish to withdraw all or a portion of land and/or buildings should file Form LV-314, Request For Withdrawal From The Use Value Appraisal Program by mail or online at myVTax. See the myVtax guide on how file Form LV-314 through myVTax.

If you have questions about any of the Current Use forms or the application process, please contact us at tax.currentuse@vermont.gov or call (802) 828-5860, ext. 2. Please read all instructions carefully. You may list up to three owners on Form CU-301.

The Use Value Appraisal Program (UVA), or more commonly called Current Use, was implemented in 1978 by the Legislature and enables farm and forest landowners who practice long-term management to have land appraised for its “use value” rather than at fair market value.

In brief. Use Value Appraisal, or “Current Use” as it is commonly known, is a property tax incentive available to owners of agricultural and forestry land in Vermont. Eligible landowners can enroll in the program to have their land appraised at its Current Use (farming or forestry) value rather than fair market value.

The Current Use Program, also known as the Use Value Appraisal Program, allows the assessed value for a property to be reduced by a proportion of land and/or buildings enrolled in the program. Here is a sample Vermont municipal tax bill that shows a Current Use tax reduction.

At least 25 contiguous acres in active agricultural use; or smaller parcels which generate at least $2,000 annually from the sale of farm crops, or actively used agricultural land owned by or leased to a farmer. Taxed at use value.

Vermont's UVA Program enables eligible private landowners who practice long-term forestry or agriculture to have their land appraised based on the property's value of production of wood or food rather than its residential or commercial development value.

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