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Thursday, November 21, 2024

Vermont sees less property tax revenue in Q1

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Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont collected $9 million in property taxes during the first quarter, a 90.8% decrease from the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2023 was $98 million.

Overall, Vermont collected $808 million in combined tax revenues in the first quarter, a decrease from the $867 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 Vermont Tax Collections
Type of TaxAmount (millions)
Property Taxes$9
Sales and Gross Receipts Taxes$423
Income Taxes$294
License Taxes$51
Other Taxes$28
Source: U.S. Census Bureau

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