Reappraisal Process
The Town of Peru has hired New England Municipal Resource Center (NEMRC) to complete a reappraisal of all property in Peru for the 2026 grand list. The last reappraisal in Peru was completed in 2015. Since that time, many changes have taken place, from physical changes to market valuation changes. The new values are set to begin on April 1st, 2026 for the 2025-26 budget and tax year.
NEMRC will be updating the data by completing exterior and interior inspections. We will be mailing postcards to notify property owners of inspection areas road by road. Each property has received a code to access and verify the basic data (not values) using the NEMRC Online Property Data Verification system. As data collectors canvas the area they will leave a note with that parcel’s unique Data Verification ID code. Once you’ve received your unique Data Verification Code you can access details for your property by going to www.peruvt.org and clicking the Reappraisal link.
In August 2024, the Town of Peru began to send out postcards to owners to inform them their inspections will start soon. If you are a property owner, please keep an eye out for one of these postcards as we make our way through each road.
For more information or a list of Frequently Asked Questions (see below), please visit the Reappraisal tab on the Peru website at www.peruvt.org or contact the Peru Listers by calling the Peru town office at 1-802-824-3065 or emailing them at [email protected]
Reappraisal FAQ
The following are examples of frequently asked questions (FAQ) property owners ask during a reappraisal.
A – What is the Coefficient of Dispersion (COD)?
Coefficient of Dispersion (COD) is a measure of uniformity of appraisals for all properties on the Grand List. e.g. if a town has valued every property at 100% FMV (every property has an assessment to FMV ration of 100%), there is 0 dispersion. Similarly, if every property is assessed at 80% of FMV, there is 0 dispersion. However, if the town average assessment to sales ratio is 80% but individual assessments vary markedly either above or below the average, then the disparity of assessments will reflect in a COD greater than 0%. Zero is a perfect COD score and indicates absolute fairness insofar as every taxpayer is appraised at the same percentage of FMV. The higher the number, the greater the dispersion (or disparity in how properties are assessed). Because of market fluctuations, a COD less than 10 is unusual. Statistically, it is the average absolute deviation of a group of numbers from the mean expressed as a percentage of the median. Vermont municipalities must reappraise the properties in their town when the COD rises above 20. (32 V.S.A. § 4041(a)). In Peru the most recent COD was 23.83%.
B – How is the market doing now?
The latest equalization report from Property Valuation and Review (PVR) has shown an increase in value for many years. Peru has also seen an increase in values such that sale values are much higher than our current appraised values.
C – Do I have to let the appraiser on or in my property?
No. In the State of Vermont, you have the legal right to refuse access to your property for an inspection by the assessor’s office. The assessor is then required to follow State statute and value your property to the best of his/her ability without seeing the grade, condition, updating and other possible improvements. If you disagree with the appraisal, you may follow the town’s Grievance process, at which time the town Listers would likely ask for access to the site to evaluate the grievance. The Listers will likely decline the grievance if not allowed to access the site. Appeals to the Board of Civil Authority require a full inspection.
D – I have not done any improvements to my house, how can the value go up or down?
That is because the market has changed since the last reappraisal. The last reappraisal was completed in 2015. At that time the assessment base was established and has not been changed since that time. The purpose of the reappraisal is to bring the values established several years ago to current market values and to establish equity across parcels.
E – How did you determine my value?
The property characteristics of each property were entered into a computerized assessment system. Property sales in the Peru area, over the past three years, will be examined to develop a model used to predict the market value of the properties that have sold. After finetuning the model, it is applied to all property in the town to establish an updated value, which is used to generate an updated grand list.
F – How come my property value went up or down more than other people I know?
The purpose of a reappraisal is not only to update the values to current market values, but also to ensure that all taxpayers are paying their fair share. Some properties may have physically changed since the last reappraisal (bought or sold land, added or removed finished area). Other properties may be located in areas where the market value has changed at a different rate relative to most properties (lake properties, commercial properties). Still others may have been incorrectly assessed during the last reappraisal (for example, wrong square footage, wrong land size, incorrect bath count, incorrect quality grades, and/or incorrect land values). Therefore, comparing percent changes in value across properties is not a measure of equity because of changes in properties and changes in the base due to actual sales.
G – If my assessment changes substantially. Does that mean my taxes will increase/decrease by the same amount?
No. Even if your assessment doubled that does not mean your taxes would double. Remember the total grand list will be changed as well. Your taxes may be adjusted depending on your income level if you are eligible for a Homestead deduction.
H – How will I be notified of the changes?
The Town has a duty to advise anyone owning a Peru property of changes as of the effective date of value (April 1, 2026). All new (and old) values are public record.
I – What to do if I do not agree with my new property value?
Before the new Grand List is filed there will be informational hearings. These hearings will provide an opportunity for a property owner to review the data and new value with an assessor from NEMRC. Once the new Grand List is filed the formal grievance hearing process will begin.