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H.472

Introduced by   Representative Peaslee of Guildhall

Referred to Committee on

Date:

Subject:  Taxation; property tax rates; farm homestead

Statement of purpose:  This bill proposes to define “homestead” to include the farm residence of the owner’s child.

AN ACT RELATING TO FARM HOMESTEAD PROPERTY TAX RATE

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

Sec. 1.  32 V.S.A. § 5401(7)(E) is amended to read:

(E)  A homestead also includes a dwelling on the homestead parcel owned by a farmer as defined under section 3752 of this title, and occupied as the permanent residence by a parent, sibling, child, grandchild of the farmer, or shareholder, partner, or member of the farmer-owner, provided that the shareholder, partner, or member owns more than 50 percent of the farmer‑owner, including attribution of ownership of a parent, sibling, child, or grandchild. 

Sec. 2.  EFFECTIVE DATE

This act shall apply to grand lists for April 1, 2005, and after.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us