VT S0315

Exempts Vermont homestead properties from the education property tax for residents who are 65 years of age or older as of December 31 of the taxable year and have been domiciled in Vermont for at least 10 consecutive years

Phases in the exemption over four years: FY 2027 taxes 75% of property value, FY 2028 taxes 50%, FY 2029 taxes 25%, with full exemption beginning FY 2030

Amends 32 V.S.A. § 3802 to add this senior long-term resident exemption to the list of properties exempt from taxation

Takes effect July 1, 2026