Homestead Declarations and
Property Tax Adjustments

You must file a Homestead Declaration every year!
Form HS-122 is Due April 15, 2008 and will be accepted only up to September 2, 2008.

HS-122 Declaration of Vermont Homestead
Every year, residents who own and occupy a Vermont homestead as of April 1 must file form HS-122, even if you do not claim or are not eligible to claim a property tax adjustment, or you do not have a requirement to file other returns. There is a late filing penalty of 1% of the correct school property tax that is billed and collected by the town. The form is split into three sections:

Section 1 identifies your property as a homestead and determines your school property tax rate. 

Section 2 must be completed to claim a property tax adjustment.  Supporting Documents Required: Form HI-144, Household Income. If applicable, include Landlord Certificate for Line B10 entry, OR the statement from your land trust, cooperative, or nonprofit mobile home park for property tax allocated to your lot or portion of property for Lines B11 and B12 entry.
Who can file? VT resident homeowners with household income up to $97,000 may make a claim if they meet the eligibility requirements
Maximum property tax adjustment for 2008 is $8,000.

Section 3 must be signed by the declarant. Homestead Declarations and Property Tax Adjustment Claims forms received without a signature will not be considered filed.

REQUESTS FOR ADDITIONAL INFORMATION
You may be asked to supply additional information on your Form HS-122. Such a request does not necessarily mean that you filed improperly. These requests are a routine part of processing returns.