Property Tax Credit
The Vermont Property Tax Credit assists many Vermont homeowners with paying their property taxes. You may be eligible for a property tax credit on your property taxes if your property qualifies as a homestead and you meet the eligibility requirements. The maximum credit is $5,600 for the State education property tax portion and $2,400 for the municipal property tax portion.
Eligibility
To file a property tax credit, you must meet ALL of the following eligibility requirements:
- Your property qualifies as a homestead, and you have filed a Homestead Declaration for the current year’s grand list.
- You were domiciled in Vermont for the entire taxable year.
- You were not claimed as a dependent of another taxpayer.
- You owned and occupied the property as your homestead as of April 1.
- If you meet these requirements, except that your homestead is leased to a tenant as of April 1, you may still claim it as a homestead if it is not leased for more than 182 days in the claim year.
- You meet the household income criteria (see form for current year income limit).
How to File
You need to file the following two forms to apply for a property tax credit. You can submit your claim electronically on myVTax as a standalone filing or when you file your Vermont Income Tax return.
- Form HS-122, Homestead Declaration and Property Tax Credit Claim
- Section A: Homestead Declaration
- Section B: Property Tax Credit Claim
- Schedule HI-144, Household Income. Learn how to determine your household income.
- Click on the link for the Vermont Homestead Declaration and Property Tax Credit Claim (HS-144) and Household Income (HI-144) Forms: https://tax.vermont.gov/sites/tax/files/documents/HS-122-2024.pdf Or physical copies of the forms can be picked up at the town office.
| Tax Year | Maximum Household Income |
|---|---|
| 2024 | $115,000 |
The HS-122 and HI-144 Forms can be submitted online at:
https://myvtax.vermont.gov/_/#1
(If you don’t already have an account you need to click “Sign Up” in the right hand corner, choose “For Individual”, and click on “File Homestead Declaration”)
Or By Mail to:
Vermont Department of Taxes,
PO Box 1881 Montpelier,
VT 05601-1881