Imposed on transfer, by deed of title, of property located in Vermont. This tax is paid by the buyer. The amount of tax equals one and one quarter (1.25%) percent of the value of the property transferred, or $1.00 whichever is greater.
The following exceptions apply:
If property will be primary residence of the buyer, then the tax is 0.5% of the first $100,000 then 1.25% on the remainder. This works out to $500 on the first $100,000.
No tax is imposed on the first $100,000 if the Vermont Housing finance agency is giving the mortgage.
If the property is a working farm, or in the State Ccurrent Use program, the tax is 0.5% on the whole amount. There are penalties if the property is converted to another use, or developed in the case of current use, within certain periods of time.
