Tax Resources

• As you know, the Homeland Program is a shared appreciation program, which restricts the sale price of the home. Vermont tax law indicates that municipalities should take this restricted sale price into account when determining the assessed value, but does not require it. As a result, some towns tax Homeland homes at a lower value than do other towns. In an attempt to establish a uniform approach to assessing homes in a shared-equity program, the Vermont Tax Department recently recommended that all Boards of Listers consider the impact of Community Land Trust (CLT) resale restrictions. Now you can download a draft of this letter, which may help you to reduce your property tax bill if you file a grievance with your town. This is most relevant for families earning more than $90,000 annually, who are not eligible for a property tax rebate. If you think your property tax bill needs adjusting, you can find more information online at http://www.sec.state.vt.us/municipal/tax_appeal_handbook_2007.pdf. The Vermont Property Owners Report can also walk you through grieving your assessment, and ACCT can work with you to provide the necessary documentation to the lister and help you with this process. Please check back here for updates as land trusts throughout the state work together with towns to reach a consensus on assessing covenant-restricted homes.



• When tax time rolls around, remember form HS 122. Your income may qualify you for a property tax rebate under Act 60. If these forms are filed on time and household income is below $47,000, the household’s actual property tax will be based on a statutory formula, not on the listed value of the home. For homeowners with household income between $47,000 and $90,000, your education taxes will be adjusted downward because the State of Vermont will pay the municipality a portion of your education tax bill, before the taxpayer is billed. Homeowners in this category will benefit from a true and accurate listed value (see above tax letter draft) but they too will receive less of an adjustment. More information on the Homestead Property Tax Adjustment can be found online at http://www.state.vt.us/tax/propertyadj.shtml

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