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Thursday, November 21, 2024

Vermont’s property tax revenues down 16.2% in Q4 compared to same quarter of the previous year

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Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont collected $98 million in property taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 16.2% decrease from the same quarter the previous year when property tax revenues were $117 million.

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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Vermont collected $867 million in combined tax revenues in Q4.

Q4 Vermont Tax Collections

Type of TaxAmount (millions)
Income Taxes$324
License Taxes$32
Other Taxes$33
Property Taxes$98
Sales and Gross Receipts Taxes$379

Source: U.S. Census Bureau

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