Vermont H 491: An act relating to setting the homestead property tax yields and the nonhomestead property tax rate

Bill Text

No. 24 Page 1 of 2
2025

VT LEG #383902 v.1
No. 24. An act relating to setting the homestead property tax yields and
the nonhomestead property tax rate.
(H.491)
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. PROPERTY DOLLAR EQUIVALENT YIELD, INCOME
DOLLAR EQUIVALENT YIELD, AND NONHOMESTEAD
PROPERTY TAX RATE FOR FISCAL YEAR 2026
For fiscal year 2026 only:
(1) Pursuant to 32 V.S.A. § 5402b(b), the property dollar equivalent
yield shall be $8,596.00.
(2) Pursuant to 32 V.S.A. § 5402b(b), the income dollar equivalent yield
shall be $12,172.00.
(3) Notwithstanding 32 V.S.A. § 5402(a)(1) and any other provision of
law to the contrary, the nonhomestead property tax rate shall be $1.703 per
$100.00 of equalized education property value.
Sec. 2. 32 V.S.A. § 6061 is amended to read:
§ 6061. DEFINITIONS
As used in this chapter unless the context requires otherwise:
* * *
(17) “Equalized value of the housesite in the taxable year” means the
value of the housesite on the grand list for April 1 of the taxable year, divided
by the number resulting from dividing the municipality’s common level of
appraisal determined by equalization of the grand list for April 1 of the year

No. 24 Page 2 of 2
2025

VT LEG #383902 v.1
preceding the taxable year by the statewide adjustment of the taxable year as
defined in subdivision 5401(17) of this title.
* * *
Sec. 3. EFFECTIVE DATE
This act shall take effect on July 1, 2025.
Date Governor signed bill: May 19, 2025