2013 Vermont Statutes
Title 32 Taxation and Finance
Chapter 236 TAX ON GAINS FROM THE SALE OR EXCHANGE OF LAND
§ 10003 Rate of tax

10003. Rate of tax

The tax imposed by section 10001 of this title shall be based upon the years held at the following rates on the gain, as gain is determined under section 10005 of this title:

Years land held by *Gain, as a percentage

transferor of basis (tax cost)

0-99% 100-199% 200% or more

Less than 4 months 60% 70% 80%

4 months, but less than 8 35% 52.5% 70%

8 months but less than 1 year 30% 45% 60%

1 year, but less than 2 25% 37.5% 50%

2 years, but less than 3 20% 30% 40%

3 years, but less than 4 15% 22.5% 30%

4 years, but less than 5 10% 15% 20%

5 years, but less than 6 5% 7.5% 10%

* Gain, as percent of basis, shall be rounded to the next highest whole percentage. A single flat rate of tax shall apply to all of the gain, and shall be determined by the percentage which the entire gain is of the basis (tax cost). (Added 1973, No. 81, 8, eff. May 1, 1973; amended 1987, No. 64, 8, eff. June 1, 1987.)