Vermont Statutes Title 24 (Appendix). Municipal Charters, App. c. 101 § 32. Tax rate

(a) If the municipal and school budgets have been adopted by July 1, then as soon as practicable after the final adoption of the last budget and the filing by the listers of the grand list, the Selectboard shall annually vote a uniform rate of tax sufficient to raise the amount of revenue voted by the Town and Town School District for the support of the Town and Town School District government for the ensuing fiscal year. In setting the rate, the Board shall consider all other sources of revenue available to the Town and Town School District, including any surplus carried over from the previous year, and shall also make such allowance for delinquent taxes as they may think proper.

(b) If the final municipal and school budgets have not been adopted by July 1, then as soon as practicable thereafter the Selectboard shall set an interim rate of tax. The interim tax rate shall be sufficient to raise the amount of tax revenue in any budget that has been adopted, plus an amount sufficient to raise 100 percent of the last adopted budget of the same type as that budget that has not yet been adopted. Once the final budgets have been adopted, the Selectboard shall proceed to set a rate of tax as set forth in subsection (a) of this section.