Vermont S 315: An act relating to administration and enforcement of agricultural water quality violations

Bill Text

BILL AS INTRODUCED S.315
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S.315 1
Introduced by Senator Mattos 2
Referred to Committee on 3
Date: 4
Subject: taxation and finance; education property tax; homestead rate; 5
exemptions 6
Statement of purpose of bill as introduced: This bill proposes to exempt from 7
the homestead property tax long-term residents who are 65 years of age or 8
older. This bill proposes to phase in the exemption over a four-year period, 9
with eligible persons fully exempt from the homestead property tax beginning 10
fiscal year 2030. 11
An act relating to a homestead property tax exemption for long-term 12
residents who are 65 years of age or older 13
It is hereby enacted by the General Assembly of the State of Vermont: 14
Sec. 1. 32 V.S.A. § 3802 is amended to read: 15
§ 3802. PROPERTY TAX 16
The following property shall be exempt from taxation: 17
* * * 18
(23) A homestead validly declared under section 5410 of this title shall 19
be exempt from the homestead education property tax imposed pursuant to 20

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VT LEG #385924 v.4
chapter 135 of this title if the declarant for the homestead meets both of the 1
following conditions: 2
(A) the declarant is 65 years of age or older as of December 31 of the 3
taxable year; and 4
(B) the declarant has been domiciled in Vermont for at least 10 5
consecutive years. 6
Sec. 2. TRANSITION; HOMESTEAD PROPERTY TAX EXEMPTION FOR 7
LONG-TERM RESIDENTS WHO ARE 65 YEARS OF AGE OR 8
OLDER; FYS 2027–2029 9
(a) Notwithstanding 32 V.S.A. § 3802(23) and 32 V.S.A. chapter 135, for 10
fiscal years 2027–2029, the only education property tax imposed on a 11
homestead property validly declared under 32 V.S.A. § 5410 shall be as 12
calculated under this section if the declarant for the homestead property meets 13
both of the following conditions: 14
(1) the declarant is 65 years of age or older as of December 31 of the 15
taxable year; and 16
(2) the declarant has been domiciled in Vermont for at least 10 17
consecutive years. 18
(b) The legislative body for the municipality in which the homestead is 19
located shall bill the declarant at the homestead rate determined for the 20
municipality pursuant to 32 V.S.A. § 5402(b)(1) for the fiscal year multiplied 21

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by the following portion of the education property tax grand list value of the 1
homestead: 2
(1) for fiscal year 2027, 75 percent; 3
(2) for fiscal year 2028, 50 percent; and 4
(3) for fiscal year 2029, 25 percent. 5
Sec. 3. EFFECTIVE DATE 6
This act shall take effect on July 1, 2026. 7