Combined tax revenues in Vermont increased 173% in the second quarter of 2024 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
Overall, Vermont collected $2.2 billion in taxes during the second quarter of 2024, compared to $807 million in the previous quarter.
The majority of the state’s tax revenue was collected through property taxes ($1.2 billion) and income taxes ($555 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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.
| Type of Tax | Amount (millions) |
|---|---|
| Property Taxes | $1,200 |
| Income Taxes | $555 |
| Sales and Gross Receipts Taxes | $368 |
| License Taxes | $43 |
| Other Taxes | $36 |
Source: U.S. Census Bureau
