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Tuesday, October 15, 2024

Vermont's Q2 property tax revenue up 13,233.3% from previous quarter

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Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont collected $1.2 billion in property taxes during the second quarter, a 13,233.3% increase over the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $9 million.

Overall, Vermont collected $2.2 billion in combined tax revenues in the second quarter, an increase from the $808 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.

Q2 Vermont Tax Collections
Type of TaxAmount (millions)
Property Taxes$1,200
Sales and Gross Receipts Taxes$368
Income Taxes$555
License Taxes$43
Other Taxes$36
Source: U.S. Census Bureau

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