Homestead Declarations and
Property Tax Adjustments

LATE FILING

 A Form HS-122 filed after April 15, 2010 is late, but you can file a late Form HS-122 up to September 1, 2010 and still declare a homestead and make a property tax adjustment claim.

Filing a late Form HS-122 between April 15 and September 1, 2010 means:

• The property will be classified as a homestead on the town grand
list and taxed at the homestead school property tax rate

• Late filing penalties will be charged

• Eligible homeowners will receive a credit on their 2010/2011
property tax on September 15, 2010

• Depending on when your town sends property tax bills, you may
receive a revised property tax bill in September

Filing a late Form HS-122 after September 1, 2010 means:

• The property will remain classified as nonresidential on the town
grand list and taxed at the higher of the school property tax rates

• No property tax adjustment claim may be made

• Late filing penalties will be charged

LATE FILING PENALTIES

Filing a late Form HS-122 Declaration after April 15

• 1% of the correct school property tax will be billed and collected by
the town

Filing a late Form HS-122 adjustment claim after April 15, 2010

• A $15 reduction in the property tax adjustment amount

APPEALING THE LATE FILING PENALTY

The late filing penalty must be appealed to the town. The law provides for a hardship appeal. 

Hardship is defined as:
(1) full-time active military duty outside of VT;
(2) serious illness or disability of the homestead owner; or
(3) serious illness, disability or death of an immediate family member of the homestead owner.