Vermont Tax Changes - November 2024

Week Of 11.21.2024

Vermont Property Tax—Vermont property tax credit fact sheet updated.

The Vermont Department of Taxes has updated its fact sheet explaining the property tax credit, which is designed to assist Vermont homeowners with paying their property taxes. Taxpayers may be eligible for a property tax credit on their 2024/2025 property taxes if they meet all of the following eligibility requirements: the property qualifies as a homestead and the taxpayer has filed a homestead declaration before the October 15, 2025, filing deadline; the taxpayer was domiciled in Vermont for the entire 2024 calendar year; the taxpayer was not claimed as a dependent of another taxpayer for 2024; the property is the taxpayer's homestead as of April 1, 2025; and the taxpayer's household income did not exceed $115,000 in 2024. The maximum credit for the 2024/2025 property tax bill is $5,600 for the education property tax portion and $2,400 for the municipal property tax portion. The property tax credit claim for 2024 was due April 15, 2024, and no later than October 15, 2024. For claims filed in 2024 and later, the $15 late fee is repealed. (The Vermont Property Tax Credit, FS-1038, 11/01/2024.)