Introduced by Representative Marron of Stowe
Subject: Taxation; property transfer tax; payment to towns for administration costs
Statement of purpose: This bill proposes to allow a payment of a portion of the property transfer tax to towns for their administration costs.
AN ACT RELATING TO PROPERTY TRANSFER TAX ADMINISTRATION PAYMENT TO TOWNS
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 32 V.S.A. § 9610(a) is amended to read:
thirty 30 days after the receipt of any property
transfer return or payment of tax under this chapter, a town clerk shall file
the return in the office of the town clerk and forward one copy of that return and
the amount of tax paid with respect thereto to the commissioner. The
clerk shall retain 0.5 percent of the tax paid with respect to the return, to
cover the town’s costs of administration of property transfer tax, and shall
remit the remaining amount of tax to the commissioner with the return.
The Vermont General Assembly
115 State Street