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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 credit is $5,600 for the State education property tax portion and $2,400 for the municipal property tax portion.

Eligibility

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 entire taxable year.

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

  • You owned and occupied the property as your homestead as of April 1.

  • If you meet these requirements, except that your homestead is leased to a tenant as of April 1, you may still claim it as a homestead if it is not leased for more than 182 days in the claim year.

  • 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 on myVTax as a standalone filing or 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

Filing Due Dates

The due date for filing a Property Tax Credit Claim is the same due date for filing your Vermont income tax return and Homestead Declaration, which is generally April 15. If you file your Homestead Declaration by the extended October 15 due date, you may still file a Property Tax Credit Claim as late as March 31 of the following year. However, a processing fee of $150 will be deducted from your property tax credit. After October 15, any property tax credit will be sent directly to the homeowner and not to the town.

Amending a Claim

If you submit a Property Tax Credit Claim with your Homestead Declaration, you are allowed to amend or change the following information reported on the forms HS-122, Homestead Declaration and Property Tax Credit Claim and HI-144, Household Income, as long as the amendments are made within three years of the April filing due date:

  • household income,

  • housesite value,

  • housesite education tax,

  • housesite municipal tax, and

  • ownership percentage

If you are not filing your amended return electronically, you may 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

Tax Forms and Guidance

myVTax Instructions

Title Number Revised
myVTax Guide How to File a Homestead Declaration or Property Tax Credit Claim GB-1265 2024

Tax Forms and Instructions

See below for forms, instructions, and a property tax credit calculator provided by the department for the convenience of taxpayers and preparers to estimate the amount of the Property Tax Credit that the taxpayer may 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

 2023
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 2024
Vermont Schedule HI-144: Determining Household Income FS-1057

2024
Vermont Tax Information for Owners of Housing Subject to a Housing Subsidy Covenant FS-1069 2024
Property Tax Assistance for Veterans FS-1003 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

Translated Property Tax Credit Information

The Property Tax Credit information has been made available in the following languages: