Homestead Declarations and
Property Tax Adjustments

You must file a Homestead Declaration every year!
Form HS-122 is Due April 15, 2010 and will be accepted only up to September 1, 2010.

HS-122 Declaration of Vermont Homestead
Every year, residents who own and occupy a Vermont homestead as of April 1 must file form HS-122, even if you do not claim or are not eligible to claim a property tax adjustment, or you do not have a requirement to file other returns. There is a late filing penalty of 1% of the correct school property tax that is billed and collected by the town. The form is split into three sections:

Section A Homestead Declaration  
Vermont residents who own and occupy a Vermont property as their principal home on April 1, 2010 must file a homestead declaration, even if they are not claim or are not eligible to claim a property tax adjustment or do not have a requirement to file an income tax return.   Late filing penalty applies to declarations filed after April 15.

Section B  Property Tax Adjustment Claim
This section must be completed to claim a property tax adjustment.  Complete Schedule HI-144, Household Income, to determine your eligibility.  Generally, household incomes of $97,000 or more do not receive an adjustment.  Maximum property tax adjustment for 2010 is $8,000.

Section C Signature
Must be signed by the declarant. Homestead Declarations and Property Tax Adjustment Claims forms received without a signature will not be considered filed.