Homestead Declarations and
Property Tax Adjustments

LATE FILING
An HS-122 filed after April 15, 2008 is late, but you can file a late HS-122 up to September 2, 2008, and still declare a homestead and make a property tax adjustment claim.

Filing a late HS-122 between April 15 and September 2, 2008 means:

• The property will be classified as a homestead on the town grand list
• The property will be taxed at the homestead school property tax rate
• Late filing penalties will be charged
• For eligible homeowners, the property tax adjustment credit will be sent to the town in September 2008
• Depending on when your town sends property tax bills, you may receive a property tax bill without adjustment and a revised property tax bill in September
Filing a late HS-122 after September 2, 2008 means:
• The property will remain classified as nonresidential on the town grand list
• The property will be taxed at the higher school property tax rate
• No property tax adjustment claim may be made
• Late filing penalties will be charged

Late Filing Penalties apply as follows:

Filing a late HS-122 between April 15 and September 2, 2008
• 1% of the correct school property tax will be billed and collected by the town
• A $15 reduction in the property tax adjustment amount Filing a late HS-122 after September 2, 2008
• 1% of the correct school property tax will be billed and collected by the town

APPEALING THE LATE FILING PENALTY
The late filing penalty must be appealed to the town. The law provides for a hardship appeal. Hardship is defined as full-time active military duty outside of VT; serious illness or disability of the homestead owner; or serious illness, disability or death of an immediate family member of the homestead owner.