closing

Property Transfer Tax and Clean Water Surcharge (Vermont)

Vermont's property transfer tax is based on the buyer's intended use: 0.5% on the first $200,000 and 1.25% above for a principal residence; 3.4% for a year-round residence that will not be the buyer's principal residence or a long-term rental; and 1.25% for other property. A 0.22% clean water surcharge applies except on the first $200,000 of a principal residence. The buyer (transferee) is liable unless the parties agree otherwise, and the return must accompany the deed, since the town clerk will not record without it.