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H.65

Introduced by   Representatives Deen of Westminster and Darrow of Dummerston

Referred to Committee on

Date:

Subject:  Taxation; income tax; property tax rebate; duplex owners

Statement of purpose:  This bill proposes to allow duplex owners to claim their half of the duplex as their housesite for the property tax rebate.

AN ACT RELATING TO DUPLEX OWNERS’ REBATES

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1.  32 V.S.A. § 6062(c)(4) is added to read:

(c)  When a homestead is owned by two or more persons as joint tenants, tenants by the entirety, or tenants in common and one or more of these persons are not members of the claimant’s household, the property tax is the same proportion of the property tax levied on that homestead as the proportion of ownership of the homestead by the claimant and members of the claimant’s household; provided, however, that

* * *

(4)  if the homestead is a portion of a duplex, and all owners of the duplex occupy some portion of the building as their principal residence, the property tax of the claimant shall be that percentage of the total property tax equal to the ratio of the claimant’s principal residence value to the total duplex building value.

Sec. 2.  EFFECTIVE DATE

This act shall apply to claims made in 2003 and after.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us