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Saturday, November 23, 2024

Property tax revenue down 99.9% 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 $1 million in property taxes during the third quarter of 2023, a 99.9% decrease from the second quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the second quarter of 2023 was $1.1 billion.

Overall, Vermont collected $757 million in combined tax revenues in the the third quarter of 2023, a decrease from the $2.1 billion 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.

Q3 2023 Vermont Tax Collections
Type of TaxAmount (millions)
Property Taxes$1
Sales and Gross Receipts Taxes$366
Income Taxes$325
License Taxes$30
Other Taxes$34
Source: U.S. Census Bureau

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