According to the VLCT, the town treasurer is responsible for keeping the town’s accounts, investing money received by the town (with the approval of the legislative body), keeping a record of the taxes voted and paying orders drawn on him or her by officials authorized by law to draw orders on town accounts. The treasurer must work with the auditors to settle town accounts prior to the annual meeting, and is often called upon to provide the Selectboard with information about town finances. The treasurer can also perform the function of collector of current and/or delinquent taxes, and acts as the school treasurer unless a separate school treasurer is elected by the school district voters.
A treasurer may not be an auditor, selectperson or school director for the town. Neither the treasurer’s spouse nor anyone assisting the treasurer in his or her official duties may be the town auditor.
VLCT Handbook for Vermont Town Officers, 1999
Budgets for all departments may be found in the Annual Town Report.
Property taxes are based on the Fair Market Value of your property. Any new construction, improvements or modifications issued a permit by the Cabot Board of Listers will be inspected and receive an assessed value based on the work completed as of April 1. Please click here to read about assessment appeals.
Property taxes bills are typically mailed in mid July and are due in November for that calendar year. This year, 2020, taxes will be mailed around September 3, 2020 and the payments will be split in half with the first payment due October 29, 2020 and the last payment due January 14, 2021. Payment should be paid in full by January 14, 2021 to avoid penalty and interest. Payments can be made by cash, check or money order and can be mailed to PO Box 36, Cabot, Vermont 05647 – please do not send cash in the mail.
Homestead Declarations and Property Tax Adjustments
It is important that new homeowner are aware of their responsibility to file the Vermont Homestead Declaration yearly with the Vermont Department of Taxes to receive the homestead property tax rate. The deadline for filing is April 15th, regardless of extensions to file personal or business taxes.
Homeowners may also apply to receive a Property Tax Adjustment through the Tax Department. The adjustment is calculate from the assessed house site value of your property as of April 1 and your income from the previous year.
An estate may file a Homestead Declaration on behalf of a deceased homeowner if the property was the decedent’s homestead at the time of death and, from the date of death through the next April 1, the property is held by the estate of the decedent and not rented.
An estate cannot make a Property Tax Adjustment Claim on behalf of a deceased homeowner. If a homeowner files a property tax adjustment claim but dies prior to April 1, the estate must withdraw the claim and repay any adjustment issued. If a homeowner dies on or after April 1, after filing a timely property tax adjustment claim, the commissioner of Taxes may pay the adjustment to the Town on behalf of another member of the household with ownership interest. A surviving spouse who owns and lives in the homestead and meets the eligibility requirements can become the homeowner.
Payments not received at the town office or cancelled by the post office (metered postage not accepted)
by 5:00 pm on the due date are considered delinquent. Delinquent accounts are placed on a warrant for the Delinquent Tax Collector and receive an immediate penalty of 8% and an accumulating interest on the outstanding principle of 1% for the first three months and 1-1/2% every month thereafter until paid in full.
How your taxes are calculated
The Homestead Education Tax Rate is based in part on the education spending per equalized pupil of all the pupils residing in your town. Click here for additional State information on how education tax rates are calculated.
Below are the calculation sheets used to help determine the total property tax assessed, the education tax rates provided by the State of Vermont Tax Department and the tax rate comparison for the past five years.
Cabot Property Taxes Comparison: Grand List 2022
Municipal Treasurers Handbook
2019 New Treasurer’s Guidelines
Roles and Responsibilities of Local Officials
Vermont Department of Taxes:
File Online your Homestead Declaration and Property Tax Adjustment
Homestead Declarations and Property Tax Adjustment