Read the full bill here.

What would S.104 Do?

✅ Eliminates the Homestead Education Property Tax, reducing the burden on Vermont homeowners. You will no longer pay property taxes to fund education whatsoever.

✅ Creates an Education Income Tax, where wealthier residents contribute more, while lower-income residents pay less. People pay based on what they earn, not what their home is worth.

✅ Protect Renters by expanding renter tax credits, so landlords can’t pass tax costs down unfairly.

✅ Keep Schools Locally Funded – Towns still set school budgets, but funding will be more equitable.

✅ Second homes, commercial properties, and investment properties would still pay an education property tax.

✅ Implements a One-Year Transitional Tax on High Earners – A temporary top tax rate on Vermont’s highest incomes will ensure schools remain fully funded during the transition period.

Who would Benefit?

Homeowners – No more property taxes funding schools.

Renters – Increased tax credits mean landlords can’t just raise rents to cover school taxes.

Seniors on fixed incomes – No more unpredictable property tax hikes.

Middle- and lower-income Vermonters – You pay based on your income, not the value of your home.

Who would Pay more?

Wealthier Vermonters with high incomes will contribute more under the progressive income-based system.

Second-home owners & businesses would still pay property taxes.