A Homestead Declarations must be filed by April 15th of each year by every Vermont resident whose property meets the definition of a homestead. A Vermont homestead is the principal dwelling and parcel of land surrounding the dwelling, owned by a resident individual as of April 1st and occupied as a person's domicile. Homestead Declaration Form is Form HS-122. The State of Vermont taxes property under two different rates, the homestead rate and the non-residential rate. Property owners must have a homestead declaration on file with the Department of Taxes to be classified as a homestead and pay the homestead rate.
Homestead Declaration filed by April 15, 2021, are considered timely, classified as homesteads on the grand list, and taxed at the homestead education property tax rate.
Homestead Declarations filed after April 15, 2021, are classified as homesteads but may be assessed the following penalty by the town, up to 3% if the non residential rate is higher than the homestead education property tax rate and/or a $15 late fee.
Homestead Declarations filed after October 15, 2021, will be classified as non-homestead. The owner will be charged the higher of the two rates, assessed a penalty, and must pay any additional property tax and interest due.