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Property Tax Credit

The Vermont Property Tax Credit assists many Vermont homeowners with paying their property taxes. You may be eligible for a property tax credit on your property taxes if your property qualifies as a homestead and you meet the eligibility requirements. The maximum property tax credit is $8,000.00


To file a property tax credit, you must meet ALL of the following eligibility requirements:

  • Your property qualifies as a homestead, and you have filed a Homestead Declaration for the current year's grand list.

  • You were domiciled in Vermont for the full prior calendar year.

  • You were not claimed as a dependent of another taxpayer.

  • You have the property as your homestead as of April 1.

  • You meet the household income criteria (see form for current year income limit).

How to File

You need to file the following two forms to apply for a property tax credit. You can submit your claim electronically when you file your Vermont Income Tax return.

  • Form HS-122, Homestead Declaration and Property Tax Credit Claim

  • Section A: Homestead Declaration

  • Section B: Property Tax Credit Claim

  • Schedule HI-144, Household Income. Learn how to determine your household income

Tax Year Maximum Household Income
2023 $128,000
2022 $134,800
2021 $136,900
2020 $138,500
2019 $138,250
2018 $136,500
2017 $147,500
2016 $141,000

Amending a Claim

If you submit a Property Tax Credit Claim with your Homestead Declaration, you are allowed to amend or change household income only as reported on Schedule HI-144, Household Income within three years of the April filing deadline. Beginning July 1, 2021, you may make the following amendments to Form HS-122, Homestead Declaration and Property Tax Credit Claim within three years of the April filing deadline:

  • housesite value,

  • housesite education tax,

  • housesite municipal tax, and

  • ownership percentage

Use Schedule HI-144, Household Income, for the applicable year to amend household income. Enter the correct household income and mark AMENDED on the HI-144. Send the amended HI-144 separately from any other returns being filed with the Department.

Mail your return to:

Vermont Department of Taxes
P.O. Box 1645
Montpelier, VT 05601-1645

Property Tax Credit Forms and Guidance

myVTax Instructions

Title Number Revised
myVTax Guide How to File a Homestead Declaration or Property Tax Credit Claim GB-1265 2022

Tax Forms and Instructions

The department provides an Excel calculator so taxpayers and preparers can determine how much Property Tax Credit the taxpayer will receive in the coming property tax year.

Form Number Instructions Title Revised
2023 Income Tax Return Booklet Included with form

2023 Vermont Income Tax Return Booklet

This booklet includes forms and instructions for: IN-111, IN-112, IN-113, IN-116, HS-122, RCC-146, HI-144

HS-122, HI-144 Instructions Vermont Homestead Declaration AND Property Tax Credit Claim 2023
HS-122 Calculator (xlsx) Included with form 2024 Property Tax Credit Calculator 2023
HS-122W Included with form Vermont Homestead Declaration and/or Property Tax Credit Withdrawal 2023

Fact Sheets and Guidance

Title Number Revised
Tax Bills and Confidentiality of Property Tax Adjustment Information Memo 2012
The Vermont Property Tax Credit FS-1038 2023
Vermont Property Bill Backer VTBill 2023
Vermont Schedule HI-144: Determining Household Income FS-1057 2023
Vermont Tax Information for Owners of Housing Subject to a Housing Subsidy Covenant FS-1069 2023
Veterans and Property Taxes: What You Should Know FS-1003 2021

Filing Due Dates

The Property Tax Credit Claim is due by the April filing due date. Those who file after the April filing deadline must pay a $15 late filing fee, which will be deducted from the Property Tax Credit. Generally, claims cannot be accepted after the October filing due date.

Due Date Extended Due Date
April 15, 2024 October 15, 2024

Statutes, Rules, and Regulations

Title Section or Number
Domicile Reg. § 1.5811(11)(A)(i), §1.5401(7), (14), §1.6066(c)
Homestead Reg. § 1.5401(7)
Claims of Decedents Technical Bulletin 20
Adjustment to Modified Gross Income Schedule HI-144 Technical Bulletin 51
Reporting Business Income, K-1 Income, Rental Income and Capital Gain on Schedule HI-144 Household Income Technical Bulletin 56 - Under Review