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Vermont Household Income

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Vermont Household Income

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Property Tax Adjustment Calculation for Household Incomes
Household Income $47,000 or less Eligible homeowners receive an adjustment to education property tax based on a percentage of household income OR the education property tax on $15,000, whichever is more.

These homeowners may also be eligible for additional adjustment for municipal property tax.

Household Income between $47,001 and $89,999
Eligible homeowners receive an adjustment to education property tax based on a percentage of household income.

Household Income $90,000 or more
Eligible homeowners receive an adjustment to education property tax based on a percentage of household income. Eligible property tax for adjustment is limited to a maximum of $200,000 housesite value. Generally, homeowners with household income of $97,000 or more do not receive an adjustment.

Maximum property tax adjustment is $8,000.


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Article Details
Views: 869 Created on: Jun 15, 2013
Date updated: Aug 17, 2015
Posted in: STATES, Vermont

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