Understanding the Homestead Declaration & Vermont Property Tax Credit
Whether you're a new homeowner or have been living in the Green Mountain State for years, understanding the Vermont Homestead Declaration and Property Tax Credit could help save you money.
Homeowners in Vermont are required to file a Homestead Declaration, even if they aren’t obligated to file a tax return. In Vermont, all property is considered nonhomestead, unless it’s declared as a homestead by the property owner.
Filing the Homestead Declaration form is important because it is required by the State of Vermont and because you may be eligible for a state property tax credit based on your household income and other factors.
How to File a Homestead Declaration
Most people submit a Homestead Declaration, along with the Property Tax Credit Claim form, when they file their income tax return. You can file these claims using the state’s online filing service, myVTax.
Visit the website tax.vermont.gov for step-by-step instructions on how to file using the online portal.
You can also file using a paper form. Use Form HS-122 to file a Homestead Declaration and Property Tax Credit Claim.
Vermont Property Tax Credit
The Vermont Property Tax Credit can help homeowners pay their property taxes. You may be eligible for this credit if your property qualifies as a homestead and you meet all of the other eligibility requirements.
You can learn more about eligibility criteria and find guidance for applying on tax.vermont.gov.
Summary
Remember, if you’re a Vermont homeowner, you must declare your property as a homestead. Not only is it required by the state, the Homestead Declaration is the first step in applying for the Vermont Property Tax Credit.
For more information about the topics covered in this video, visit tax.vermont.gov or vtlawhelp.org.
If you have questions about the Vermont Property Tax Credit, call 802-828-2865 or toll-free in Vermont at 866-828-2865.
Helpful Links
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Form HS-122 (Vermont Homestead Declaration AND Property Tax Credit Claim)