Why Vt. homeowners must file an extra tax form this year - WCAX.COM Local Vermont News, Weather and Sports-

Why Vt. homeowners must file an extra tax form this year

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Vermont homeowners need to file an extra tax form this year even if they have not moved in the last year.

A change in the state's tax law now means the homestead declaration form needs to be filed every year by every Vermont homeowner. That's the form that declares your home as your primary or secondary residence.

Previously, it was only required if you were eligible for a tax prebate, or if there was a change in ownership. Experts say you could be paying higher property taxes next year if you forget to file it.

"So you could go on the Vermont Department of Taxes website and within 15 minutes you could file that homestead exemption, but if you don't file that homestead exemption then you won't get the lower taxes for your principal residence. So, it's really, really important that everybody file it," said Rick Wolfish of Gallagher, Flynn and Co.

That's because second homes are charged a higher non-homestead tax rate and if you forget to make your declaration, that's what you'll be charged. You can file that form anytime between now and April 15.

Vermont Homestead Declaration Form -- www.state.vt.us/tax/propertyadj.shtml

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