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Sunday, November 24, 2024

Property tax revenue down 98.1% from previous quarter in Vermont

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Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont collected $2 million in property taxes during the first quarter of 2022, a 98.1% decrease from the fourth quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2021 was $105 million.

Overall, Vermont collected $751 million in combined tax revenues in the the first quarter of 2022, a decrease from the $780 million collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1 2022 Vermont Tax Collections
Type of TaxAmount (millions)
Property Taxes$2
Sales and Gross Receipts Taxes$370
Income Taxes$306
License Taxes$44
Other Taxes$29
Source: U.S. Census Bureau

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