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Louisiana exempts the first $7,500 of residential homestead from local property taxes. [9] Maine exempts the first $25,000 of a primary residential homestead from property taxes. This is paid to the municipality and refunded when state taxes are filed. [10] Michigan exempts the homeowner from paying the operating millage of local school districts.
The rankings showed Vermont had a per capita tax load of $5,387, 14.1% of the per capita income of $38,306. [23] Vermont collects personal income tax in a progressive structure of five different income brackets, with marginal tax rates ranging from 3.6% to 9.5%. In 2008, the top one percent of the residents provided 30% of the income tax ...
Composition of state and local tax revenues by sales taxes (brown), property taxes (white), licenses and other fees (grey), individual and corporate income taxes (green) in 2007. Determining the value of property is a critical aspect of property taxation, as such value determines the amount of tax due.
The use tax applies to items taxable under the sales tax. Vermont does not collect inheritance taxes, but does impose a state estate tax; a Vermont estate tax return must be filed if the estate must file a federal estate tax return (the requirement for which depends on federal law). [279] Vermont does not collect a gift tax. [280]
The State Treasurer's Office is responsible for several administrative and service duties, in accordance with Vermont Statutes. These include: investing state funds; issuing state bonds; serving as the central bank for state agencies; managing the state's cash balances, check processing and reconciliation; safeguarding and returning unclaimed or abandoned financial property; and administering ...
The Justin Smith Morrill Homestead is the historic Carpenter Gothic home of United States Senator Justin Smith Morrill (1810–98) in Strafford, Vermont, and was one of the first declared National Historic Landmarks, in 1960. [2] [3] It is located at 214 Justin Morrill Highway, south of the village green of Strafford.