BILLASPASSEDBYTHEHOUSE H.491
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H.491
IntroducedbyCommitteeonWaysandMeans
Date:
Subject:Taxation;educationpropertytax;homesteadyields;nonhomestead
rate
Statementofpurposeofbillasintroduced:Thisbillproposestosetthe
propertydollarandincomedollarequivalentyieldsforthepurposeofsetting
homesteadpropertytaxratesandproposestosetthenonhomesteadproperty
taxrate.Thisbillalsoproposesatechnicalcorrectiontothecalculationofthe
equalizedvalueofahousesitetoaccountforthestatewideadjustment.
Anactrelatingtosettingthehomesteadpropertytaxyieldsandthe
nonhomesteadpropertytaxrate
ItisherebyenactedbytheGeneralAssemblyoftheStateofVermont:
Sec.1.PROPERTYDOLLAREQUIVALENTYIELD,INCOME
DOLLAREQUIVALENTYIELD,ANDNONHOMESTEAD
PROPERTYTAXRATEFORFISCALYEAR2026
Forfiscalyear2026only:
(1)Pursuantto32V.S.A.§5402b(b),thepropertydollarequivalent
yieldshallbe$8,596.00.
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(2)Pursuantto32V.S.A.§5402b(b),theincomedollarequivalentyield
shallbe$12,172.00.
(3)Notwithstanding32V.S.A.§5402(a)(1)andanyotherprovisionof
lawtothecontrary,thenonhomesteadpropertytaxrateshallbe$1.703per
$100.00ofequalizededucationpropertyvalue.
Sec.2.32V.S.A.§ 6061isamendedtoread:
§ 6061.DEFINITIONS
Asusedinthischapterunlessthecontextrequiresotherwise:
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(17)“Equalizedvalueofthehousesiteinthetaxableyear”meansthe
valueofthehousesiteonthegrandlistforApril1ofthetaxableyear,divided
bythenumberresultingfromdividingthemunicipality’scommonlevelof
appraisaldeterminedbyequalizationofthegrandlistforApril1oftheyear
precedingthetaxableyearbythestatewideadjustmentofthetaxableyearas
definedinsubdivision5401(17)ofthistitle.
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Sec.3.EFFECTIVEDATE
ThisactshalltakeeffectonJuly1,2025.
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