Tax Department Reminds Vermonters to File Property Tax Credit and Renter Rebate Claims
Vermonters may claim a Property Tax Credit or receive a Renter Rebate to help offset the cost of housing, but those claims must be filed by October 15, 2020.
The Vermont Property Tax Credit and Renter Rebate programs help make housing more affordable for thousands of Vermonters, and the Department of Taxes has seen a marked decrease in the number of claims filed this year.
“The COVID-19 public health emergency has created challenges in our daily lives, and we believe it has led to fewer Vermonters filing these very important forms. But we know many Vermonters are hurting right now, and thousands may miss out on relief available to help pay property taxes or rent if they do not act before October 15, 2020,” said Commissioner Craig Bolio.
Earlier this year, the due date for both these programs was moved from April 15 to July 15 due to the public health emergency. If you missed the July 15 deadline you may still file, but there are two things that you need to know:
- Any Property Tax Credit Claim filed between July 15 and the Oct. 15 deadline is subject to a $15 late filing penalty assessed by your town; and,
- By law, the department is prohibited from accepting either claims filed after Oct. 15 or claims that are incomplete.
A Homestead Declaration is required to complete a Property Tax Credit Claim. All Vermont homestead owners must file a Homestead Declaration using Vermont Form HS-122 every year, even if they are not seeking an income-based property tax credit. In 2020, the deadline for filing Homestead Declarations was extended to July 15. Homestead Declarations filed after Oct. 15 will result in reclassification of the property to nonhomestead and could result in higher property taxes as well as interest and penalties.
If homeowners are unsure if they correctly filed their Homestead Declaration and Property Tax Credit claim they should review their current property tax bill. If the department received your Homestead Declaration, your bill will show a Homestead Education Tax Rate. Any property tax credit will show as a reduction in the total tax, labeled “State Payments.” Claimants for the Property Tax Credit or the Renter Rebate program may check the status of their filing on department’s website at myvtax.vermont.gov. If you are expecting a Property Tax Credit, please be sure the status reads that both your Homestead Declaration and Property Tax Credit Claim were received by the Department.