Homestead Declarations and
Property Tax Adjustments

GENERAL INFORMATION

School Property Tax Rates  VT towns classify property on their grand lists as either homestead or nonresidential. A different school property tax rate applies to homestead and nonresidential properties. 

Homestead Property is owned and occupied by a VT resident as his or her principal home on April 1, and declared as a homestead on Form HS-122, Section A, that is filed with the VT Department of Taxes. A Homestead Declaration must be filed each year.

Nonresidential Property is
(1) property used for commercial purposes, or as a camp, second home or summer cottage,
(2) property not declared as a homestead by the due date, or
(3) property not used as a homestead on April 1.

VT Homestead Declaration  A Homestead Declaration must be filed each year by VT resident homeowners who own and occupy property as their principal home on April 1. Persons who hold a life estate to their home or who transferred the home into a revocable trust also file a Homestead Declaration.

Property Tax Adjustment The property tax adjustment assists VT residents to pay property tax and is based on a percentage of household income.  The adjustment is credited to your property tax and the town issues a bill for any balance due.