VT Property Tax Credit: Guidelines & Eligibility

February 17, 2025

Did you know that the Vermont Property Tax Credit assists many Vermont homeowners with paying their property taxes? You may be eligible for a property tax credit based on your 2024/2025 property taxes if your property qualifies as a homestead and you meet the eligibility requirements.

Who is Eligible to File a Claim?

In order to file a Vermont Property Tax Credit Claim, you must meet all of the following eligibility requirements:

• Your property qualifies as a homestead, and you have filed a Homestead Declaration before the October 15, 2025, filing deadline. 
• You were domiciled* in Vermont for the entire 2024 calendar year. 
• You were not claimed as a dependent of another taxpayer for 2024. 
• You occupy the property as your homestead as of April 1, 2025. 
• The Property Tax Credit Claim for 2025 is due on April 15. 
• Generally, claims cannot be accepted after October 15, 2025. 
• Your Household Income did not exceed $115,000 in 2024. 

* Domicile is a legal concept that has implications for Vermont income tax, the statewide education tax, and property tax credit. See the definition of “domicile” (tax.vermont.gov/regulations)

What is a Homestead?

A Homestead Declaration (Form HS-122) must be filed each year so that you are correctly assessed the homestead tax rate on your property. A “homestead” is the principal dwelling and parcel of land surrounding the dwelling. It is your responsibility as the property owner to claim the property as a homestead if you meet, or expect to meet, the following requirements: 

• You are a Vermont resident. 
• You own and occupy a homestead as your domicile as of April 1, 2025. 

Note: If you meet these requirements, except that your homestead is leased to a tenant on April 1, 2025, you may still claim it as a homestead if it is not leased for more than 182 days in the 2024 calendar year.

What Forms Are Needed to File?

You need the following two forms to file a claim: 

• Form HS-122: Section A: Homestead Declaration and Section B: Property Tax Credit Claim 
• Schedule HI-144: Household Income