VT H0794

Personal income tax surcharge of 2% on adjusted gross income exceeding $250,000, plus an additional 6% surcharge on income exceeding $500,000, effective retroactively to January 1, 2026

New 4% wealth proceeds tax on net investment income for individuals with taxable income over $200,000 (single), $250,000 (married filing jointly), or $125,000 (married filing separately), effective January 1, 2027

New property tax classification for nonhomestead residential properties taxed at double the homestead rate ($2.00 vs $1.00 per $100 of equalized value multiplied by the spending adjustment), effective January 1, 2028

School Construction Aid Special Fund created and administered by Agency of Education, funded by half of nonhomestead residential property tax revenue, for school construction projects, facilities planning grants, and emergency aid

Revenue from income surcharges and wealth proceeds tax intended to fund implementation of Green Mountain Care universal healthcare program