Introduced by Representative Peaslee of Guildhall
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:
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.
The Vermont General Assembly
115 State Street