Vermont S0282 proposes a wealth proceeds tax on high-income earners and establishes a School Construction Aid Special Fund.

Vermont S0282 introduces a wealth proceeds tax on individuals, estates, and trusts with taxable income over certain thresholds. It also creates a personal income tax surcharge on individuals with federal adjusted gross income of $250,000 or more and an additional surcharge for those with income over $500,000. The bill establishes new property tax classifications and rates, including a homestead property tax rate and a higher rate for nonhomestead residential properties.

Vermont S0282 proposes a wealth proceeds tax on high-income earners and establishes a School Construction Aid Special Fund.

Vermont S0282 introduces a wealth proceeds tax on individuals, estates, and trusts with taxable income over certain thresholds. It also creates a personal income tax surcharge on individuals with federal adjusted gross income of $250,000 or more and an additional surcharge for those with income over $500,000. The bill establishes new property tax classifications and rates, including a homestead property tax rate and a higher rate for nonhomestead residential properties.