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Homestead Declaration Filing

Homestead Declaration Filing Deadline is April 17

By Vermont law, property owners whose homes meet the definition of a VT homestead must file a Homestead Declaration annually by the April filing deadline.  A homestead is the principal dwelling and parcel of land surrounding the dwelling, owned and occupied by the resident as the person’s domicile.

All property is considered nonresidential, unless it is declared as a homestead. The education property tax rate levied on nonresidential property differs from the rate levied on homestead property. It is your responsibility to claim the property as a homestead if you meet, or expect to meet, the following requirements: You are a VT resident and You own and occupy a homestead as your domicile as of April 1, 2018.  Many people file their Homestead Declarations at the same time they file their VT income tax returns. However, if you apply to extend the time to file your income tax return, the declaration must still be filed by the April filing deadline. Even if a person is not required to file a VT Income Tax Return, the declaration must be filed by the deadline.              

Buying Property On or Before April 1: If you buy the property that you will use as your principal home, you are responsible for filing a homestead declaration on this property by the due date.

Selling Property On or Before April 1: If you filed Form HS-122, but sell the property on or before April 1, you are responsible for withdrawing the homestead declaration and property tax adjustment claim. You will be responsible for repayment of a property tax adjustment if issued. Use Form HS-122W, Vermont Homestead Declaration and/or Property Tax Adjustment Withdrawal.

Selling Property After April 1: If you filed the Form HS-122, but sold the property after April 1, the property tax adjustment amount is allocated to the seller upon closing unless the parties agree otherwise. The property tax adjustment is your payment for the previous calendar year property taxes and needs to be considered at the closing when pro-rating the property taxes.

You can now file your 2018 Homestead Declaration and Property Tax Adjustment Claim using myVTax

Filing online is EASY, QUICK, and FREE!




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