Act 82 of 2024 allows the Department of Taxes to approve reimbursements to municipalities for qualifying state education property tax payments. A municipality may be reimbursed if it abated state education property taxes on property damaged by severe storms and flooding on July 7-21, 2023, and August 3-5, 2023.
On May 13, 2024, the governor signed Act 108 (H.861), an act extending the time for flood abatement reimbursements to include abatements made before November 15, 2024.
A municipality may also request reimbursement of interest expenses on funds borrowed to make state education property tax payments due to disruption of tax collections resulting from flooding between July 1, 2023, and October 15, 2023. The reimbursement is limited to an amount equal to the municipality's reasonable interest expenses but not more than an eight percent (8%) interest rate.
These reimbursements will be processed from the Agency of Education as a reduction in Education Property Tax liability.
For a complete explanation of the program, eligibility requirements, and to submit an online application, please visit:
Flood-Related Damage and Property Tax Abatement | Department of Taxes (vermont.gov)
Questions? Call 802-828-5860 or email tax.pvr@vermont.gov.