The Vermont Statutes Online
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 32 : Taxation and Finance
Chapter 231 : Property Transfer Tax
(Cite as: 32 V.S.A. § 9602a)-
§ 9602a. Repealed. 2017, No. 85, § I.11(a)(5), eff. July 1, 2039.
(Added 2015, No. 64, § 38, eff. June 16, 2015; amended 2017, No. 85, § I.9; 2017, No. 85, § I.10, eff. July 1, 2027; repealed on July 1, 2039 by 2017, No. 85, § I.11(a)(5); 2023, No. 181 (Adj. Sess.), § 74, eff. June 17, 2024; 2023, No. 181 (Adj. Sess.), § 75, eff. July 1, 2027.)
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§ 9602a. Clean water surcharge [Effective until July 1, 2027; see also 32 V.S.A. § 9602a effective July 1, 2027 set out below]
There shall be a surcharge of 0.22 percent on the value of property subject to the property transfer tax under section 9602 of this title, except that there shall be no surcharge on the first $200,000.00 in value of property to be used for the principal residence of the transferee or the first $250,000.00 in value of property transferred if the purchaser obtains a purchase money mortgage funded in part with a homeland grant through the Vermont Housing and Conservation Trust Fund or that the Vermont Housing and Finance Agency or U.S. Department of Agriculture and Rural Development has committed to make or purchase. The surcharge shall be in addition to any tax assessed under section 9602 of this title. The surcharge assessed under this section shall be paid, collected, and enforced under this chapter in the same manner as the tax assessed under section 9602 of this title. The Commissioner shall deposit the surcharge collected under this section in the Clean Water Fund under 10 V.S.A. § 1388, except for the first $1,000,000.00 of revenue generated by the surcharge, which shall be deposited in the Vermont Housing and Conservation Trust Fund created in 10 V.S.A. § 312. (Added 2015, No. 64, § 38, eff. June 16, 2015; amended 2017, No. 85, § I.9; 2017, No. 85, § I.10, eff. July 1, 2027; repealed on July 1, 2039 by 2017, No. 85, § I.11(a)(5); 2023, No. 181 (Adj. Sess.), § 74, eff. June 17, 2024; 2023, No. 181 (Adj. Sess.), § 75, eff. July 1, 2027.)
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§ 9602a. Clean water surcharge [Effective July 1, 2027; Effective until July 1, 2039]
There shall be a surcharge of 0.04 percent on the value of property subject to the property transfer tax under section 9602 of this title, except that there shall be no surcharge on the first $200,000.00 in value of property to be used for the principal residence of the transferee or the first $250,000.00 in value of property transferred if the purchaser obtains a purchase money mortgage funded in part with a homeland grant through the Vermont Housing and Conservation Trust Fund or that the Vermont Housing and Finance Agency or U.S. Department of Agriculture and Rural Development has committed to make or purchase. The surcharge shall be in addition to any tax assessed under section 9602 of this title. The surcharge assessed under this section shall be paid, collected, and enforced under this chapter in the same manner as the tax assessed under section 9602 of this title. The Commissioner shall deposit the surcharge collected under this section in the Vermont Housing and Conservation Trust Fund created in 10 V.S.A. § 312. (Added 2015, No. 64, § 38, eff. June 16, 2015; amended 2017, No. 85, § I.9; 2017, No. 85, § I.10, eff. July 1, 2027; repealed on July 1, 2039 by 2017, No. 85, § I.11(a)(5); 2023, No. 181 (Adj. Sess.), § 74, eff. June 17, 2024; 2023, No. 181 (Adj. Sess.), § 75, eff. July 1, 2027.)
