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H.76

Introduced by   Representative Marron of Stowe

Referred to Committee on

Date:

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:

(a)  Not later than 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.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us