H.486, introduced by Representative Durfee of Shaftsbury, aims to amend current laws regarding homestead declarations and property tax credits. The bill proposes to extend the due date for late-filed homestead declarations, providing relief for taxpayers who miss the original deadline. Additionally, it seeks to increase the household income threshold that qualifies individuals for a property tax credit, as well as raise the amount of housesite value considered in calculating the credit.

These changes are intended to enhance the accessibility of property tax relief for homeowners, particularly those with lower incomes. By adjusting the criteria for eligibility and the calculation of benefits, the bill aims to alleviate some of the financial burdens associated with property taxes in Vermont.