Overview
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 property tax credit is $8,000.00
Eligibility
In order 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 full prior calendar year.
- You were not claimed as a dependent of another taxpayer.
- You have the property as your homestead as of April 1.
- 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 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 household income.
| Tax Year | Maximum Household Income |
|---|---|
| 2020 | $138,500 |
| 2019 | $138,250 |
| 2018 | $136,500 |
| 2017 | $147,500 |
| 2016 | $141,000 |
The Homestead Declaration and Property Tax Credit Claim can be filed at separate times but must be received by the unextended personal income tax April filing due date, to be considered timely. There are no extensions available to file a Homestead Declaration and Property Tax Credit.
Calculate your Property Tax Credit
The Department provides an Excel calculator so taxpayers and preparers can find out how much Property Tax Credit the taxpayer will receive in the coming property tax year.
Amend a Claim
You are allowed to amend or change household income only as reported on Schedule HI-144, Household Income, within three years of the October filing deadline. You may not make any amendments or changes to Form HS-122, Homestead Declaration and Property Tax Credit Claim. Use Schedule HI-144, Household Income, for the applicable year to amend household income. Enter the correct household income and mark AMENDED on the HI-144. Send the amended HI-144 separately from any other returns being filed with the Department.
Mail your return to:
Vermont Department of Taxes
P.O. Box 1645
Montpelier, VT 05601-1645
Forms and Publications
| No. | Instructions | Title |
|---|---|---|
| Calculator | 2020 Property Tax Credit Calculator (xlsx) | |
| HS-122, HI-144 | Instructions | Homestead Declaration AND Property Tax Credit Claim |
| HS-122W | Vermont Homestead Declaration and/or Property Tax Credit Withdrawal | |
| Income Tax Return Booklet |
2020 Vermont Income Tax Return Booklet This booklet includes forms and instructions for: IN-111, IN-112, IN-113, IN-116, HS-122, PR-141, HI-144 |
|
| Publications | ||
| FS-1057 | Vermont Schedule HI-144: Determining Household Income | |
| FS-1038 | The Vermont Property Tax Credit | |
| FS-1069 | Vermont Tax Information for Owners of Housing Subject to a Housing Covenant | |
| GB-1265 | myVTax Guide: How to File a Homestead Declaration or Homestead Declaration & Property Tax Credit Claim | |
| View | Tax Bills and Confidentiality of Property Tax Credit Information | |
Filing Deadlines
Claims for a Property Tax Credit are due by the April filing deadline.* Those who file after April filing deadline must pay a $15 late filing fee, which will be deducted from the Property Tax Credit. Claims filed after Oct. 15 or incomplete claims will not be accepted.