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Homestead Declarations and
Property Tax Adjustments

DEFINITIONS FOR PROPERTY TAX ADJUSTMENT CLAIM

Allocable Mobile Home Lot Rent means rent for a lot in a for-profit mobile home park as calculated on LC-142, Landlord’s Certificate.  Allowable Property Tax means the property tax on the portion of the housesite you own and occupy as a home. See property tax adjustment calculation for household income for limitation. If the housesite is owned by you and other person(s), see Ownership Situations.

Cooperative means a housing corporation organized under 11 V.S.A. Chapter 14.

Domiciled means, for purposes of declaring a VT homestead, that VT is your home state, and you own and occupy the property as your principal home on April 1 of the current year. For purposes of a property tax adjustment claim, the homeowner must also have been domiciled in VT all of the previous calendar year. For factors considered when determining domicile, see VT Department of Taxes Regulation 1.5811.

Education Tax Allocated from Land Trust, Co-Op or Nonprofit Mobile Home Park means the education property tax on the portion of land owned by one of these entities that is part of your housesite.  Homeowner means a person who owns and occupies the housesite as his or her principal home and meets the eligibility requirements for a property tax adjustment. Only one homeowner need file the homestead declaration. One claim for property tax adjustment per household is allowed. There can be joint homeowners if both homeowners own and occupy the housesite as his or her principal home. See definition of Joint Homeowners.

Homestead means your principal home and improvements and all contiguous land. (NOTE: A separate parcel contiguous to your homestead requires a separate declaration for each parcel.)

Household means the Homeowner, his or her Spouse or CU Partner, and Other Persons who lived in the home at any time during any time during the previous calendar year.

Household Income (click to view definition)

Housesite means the portion of the homestead that is the home owned and occupied by the Homeowner as his/her primary home plus improvements and up to two acres of land.  Joint Homeowners means Homeowners who jointly own and occupy the homestead as their principal home.

Land Trust means a nonprofit corporation or community land trust exempt under Section 501(c)(3) of the Internal Revenue Code. The corporation's purpose must be the creation or retention of affordable housing for lower income Vermonters and its bylaws must require that such housing be maintained as affordable housing for lower income Vermonters on a perpetual basis.

Legal Separation means an order that discusses the financial obligations and disposition of assets of the parties that is issued by a court that may grant an absolute divorce or civil union  dissolution. A preliminary order in a divorce case or civil union dissolution may also be accepted as evidence of legal separation.

Life estate means an interest in the property conveyed through a deed and recorded in the town records.

Municipal Tax Allocated from Land Trust, Co-Op or Nonprofit Mobile Home Park means the municipal property tax on the portion of land owned by one of these entities that is used as part of your housesite.

Nonprofit Mobile Home Park means a corporation exempt under Section 501(c)(3) of the Internal Revenue Code, or its wholly owned subsidiary which has as its purpose the preservation of housing for low income families; or a housing cooperative organized under 11 V.S.A. Chapter 14.

Nonresidential Property means all property not properly declared as a homestead, and property used for commercial, rental, business, or vacation purposes such as a camp or second home.
Spouse means the husband, wife, or civil union partner of the Homeowner.

 

 

File your Homestead Declaration and Property Tax Adjustment Online

More Information:
-2014 Adjustment worksheet
- Amending
- Buying & Selling Property
- Confidentiality
- Deceased Homeowner
- Definitions
- Delinquent Property Taxes
- Eligibility Requirements
- Extension of Time to File
- General Information
- Household Income
- Incomplete Filings
- Late Filing
- New Construction
- Nonresidential Use
- Offset of Adjustment
- Ownership Situations
- School District Codes
- SPAN
- Special Situations

 
Vermont Department of Taxes, 133 State Street, Montpelier, Vermont 05633-1401