An act relating to a homestead property tax exemption for long-term residents who are 65 years of age or older

Summary

The bill would gradually reduce, then eliminate, the education portion of the homestead property tax for seniors who are at least 65 years old and have been domiciled in Vermont for 105 consecutive years. The exemption would be 75% of the tax in FY 2027, 50% in FY 2028, 25% in FY 2029, and full exemption beginning FY 2030. It aims to ease the tax burden on the state’s longest‑standing elderly homeowners.

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