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H.355

Introduced by   Representatives Winters of Swanton, Bartlett of Dover, Branagan of Georgia, Krawczyk of Bennington, McAllister of Highgate and Parent of St. Albans City

Referred to Committee on

Date:

Subject:  Taxation; income tax; education property tax; prebates

Statement of purpose:  This bill proposes to allow payment of prebates when a town has not yet adopted an education budget.

AN ACT RELATING TO PREBATES IN A TOWN WHICH HAS NOT VOTED AN EDUCATION BUDGET

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

Sec. 1.  32 V.S.A. § 6066a is amended to read:

§ 6066a.  Payment of property tax adjustments

Annually, the commissioner shall pay to each claimant the property tax adjustment amount determined under subdivisions 6066(a)(1) and (2) of this title.  The payment shall be made by the latest of:  August 1, for claims filed by April 15; 45 days after the claim is filed, for claims filed after April 15; or 30 days prior to the first education property tax installment date for the claimant's municipality in the fiscal year which begins in the calendar year in which the claim is filed under section 6068 of this title; or 25 days after the grand list has been transmitted in accordance with section subsection 5404(b) of this title.  The tax adjustment of a claimant who was assessed property tax by a town which revised the dates of its fiscal year, however, is the excess of the property tax which was assessed in the last 12 months of the revised fiscal year, over the adjusted property tax of the claimant for the revised fiscal year as determined under subdivisions 6066(a)(1), (2), and (3) of this title.  If at the date of required payment under this section the municipality has not yet adopted a budget, the commissioner shall calculate the amount under subdivisions 6066(a)(1) and (2) of this title using the municipality’s most recent tax rate; and if when adopted, the new tax rate is higher, any additional payment determined by the commissioner to be due as a result of the new tax rate shall be paid to the claimant with the following year’s claim, if any.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us