PROPERTY—Calculating rent for tax credit.
The Vermont Department of Taxes has added a footnote to Technical Bulletin TB-28. Originally issued in 2004, the bulletin clarified how the department calculated “rent constituting property taxes“ in non-arm's length transactions for the Homestead Property tax credit program. Due to the 2010 legislation that eliminated the option to calculate a renter rebate using the allocable property tax method, the bulletin will have limited relevance to claims filed after 2010.(Vermont Technical Bulletin TB-28, 10/05/2010.)
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