Act No. 52 Page 1 of 1
2023
This act summary is provided for the convenience of the public and members of the General Assembly. It
is intended to provide a general summary of the act and may not be exhaustive. It has been prepared by the
staff of the Office of Legislative Counsel without input from members of the General Assembly. It is not
intended to aid in the interpretation of legislation or to serve as a source of legislative intent.
Act No. 52 (H. 492). An act relating to setting the homestead property tax yields and the
nonhomestead property tax rate
Subjects: Taxation; education property tax; nonhomestead rate; homestead yields
This act sets the property dollar and income dollar equivalent yields for the purpose of
setting homestead property tax rates in fiscal year 2024. The fiscal year 2024 yields set
by this act are as follows:
• property dollar equivalent yield: $15,443.00; and
• income dollar equivalent yield: $17,537.00.
This act sets the nonhomestead property tax rate in fiscal year 2024 at $1.391 per
$100.00 of equalized education property value.
This act reserves $13,000,000.00 within the Education Fund to offset property tax rate
increases in fiscal year 2025, and requires the Commissioner of Taxes, when preparing
the December 1st property tax rate letter, to assume that the reserve will be used to offset
tax rate increases in fiscal year 2025.
Effective Date: July 1, 2023
VT LEG #370803 v.2