The Vermont Pt 172 S form is a Property Transfer Tax Return that must be completed when real estate is sold or transferred in Vermont. This form collects essential information about the transferor (seller), transferee (buyer), and the property itself, ensuring compliance with state tax regulations. To proceed with your property transfer, fill out the form by clicking the button below.
The Vermont PTT-172 Property Transfer Tax Return is a crucial document for anyone involved in real estate transactions within the state. This form serves multiple purposes, primarily to report the transfer of property and calculate the associated taxes. It requires detailed information about both the seller (transferor) and the buyer (transferee), including names, addresses, and identification numbers. Additionally, the form captures essential property details, such as its physical location, land size, and any exemptions that may apply. It also includes sections for the holding period of the property and how the transferor acquired it. Understanding the various components of this form is vital, as it not only ensures compliance with state regulations but also helps in determining any tax liabilities that may arise from the transfer. Completing the PTT-172 accurately is essential for both parties, as errors or omissions can lead to delays or complications in the transaction process.
Vermont Department of Taxes 133 State Street Montpelier, VT 05633-1401 Phone: (802) 828-6851
VT Form
VERMONT
PTT-172
PROPERTY TRANSFER TAX RETURN
For Town Use Only
*Required or Conditionally Required Field
A.
Web request key / Confirmation code
TRANSFEROR’S (Seller’s) INFORMATION
Entity TRANSFEROR Name
Federal ID Number
OR*
Individual TRANSFEROR Last Name
First Name
Initial
Social Security Number
TRANSFEROR Mailing Address Following Transfer*
Daytime Telephone Number
Line 2 for Mailing Address Following Transfer (if needed)
For Department Use Only
City*
State*
ZIP Code*
Foreign Country (if not United States)*
Email Address
B.
TRANSFEREE’S (Buyer’s) INFORMATION
Entity TRANSFEREE Name
Individual TRANSFEREE Last Name
TRANSFEREE Mailing Address Following Transfer*
C.
PROPERTY INFORMATION
Property Physical Location - Number and Street or Road Name*
Land Size (in acres)*
Check if sale did not involve land
City or Town*
SPAN*
Check if property is located in
multiple cities or towns*
D.
HOLDING PERIOD
Date Acquired by Transferor (mm dd yyyy)*
Date of this Closing (mm dd yyyy)*
Time Held*
_________ Years
_________ Months
E.
EXEMPTIONS
E1.
If transfer is exempt from Property Transfer Tax, enter exemption number (see quick reference guide) . E1. _________*
E2.
If sale was between family members, enter corresponding number (see quick reference guide). . . . . . . . E2. _________*
E2a. If Line E2 is “05,” enter description
E2a. _________________________________________*
E3.
Land Gains exemption number (see quick reference guide). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E3. _________*
(continued on next page)
*201722100*
Page 1 of 4
Form PTT-172
5454
* 2 0 1 7 2 2 1 0 0 *
Rev. 10/20
Transferee’s Name_____________________________________________________
Property Location _____________________________________________________
Date of this Closing____________________________________________________
*201722200*
* 2 0 1 7 2 2 2 0 0 *
F.
TRANSFER INFORMATION
F1.
How did the Transferor acquire this property? (see quick reference guide) . . . .
. . . . . . . . . . . .
. . . . . . . . F1. _________*
F1a.
If Line F1 is “04,” enter description
F1a. _________________________________________*
F2.
Interest conveyed in this transfer (see quick reference guide) .
. . . . . . . . . . . . .
. . . . . . . . F2. _________*
F2a.
If Line F2 is “07,” enter percent of interest here
. F2a. ________________ . _______% *
F2b.
If Line F2 is “08,” enter description
F2b. _________________________________________*
F3.
Type of building construction at time of transfer (see quick reference guide) . .
. . F3. ________ ________
_______*
F3a.
If Line F3 is “05,” enter number of units transferred . . .
. . . . . . . F3a. _________*
F3b.
If Line F3 is “06,” enter number of dwelling units transferred
. . . . . . . F3b. _________*
F3c.
If Line F3 is “20,” enter description
F3c. _________________________________________*
F4.
Was the transferee a tenant prior to this transfer?
. . . . . . . . . . . . . . .
. . . . . F4.
cYes*
cNo*
F5.
Financing
F5. cConventional/Bank*
cOwner Financing*
cOther*
F5c.
If Line F5 is “Other,” enter description
F5c. _________________________________________*
F6.
Do you intend to record this return with the Town/City within 60 days of the closing? . . F6.
G.
AGRICULTURAL / MANAGED FOREST LAND USE VALUE PROGRAM, 32 V.S.A. CHAPTER 124
G1.
Is all or part of the property being transferred enrolled in the Current Use
(Use Value Appraisal) Program?
. . . . . . . . . . . . . . . . . . . . . . .
G2.
To continue enrollment in the Current Use Program, the new owner must submit a
Current Use Application within 30 days of the recording date. Will the new owner
be submitting that application?
. . . . . . . . . . . . . . . . . . .
. . . . . . . .G2.
H.
H1.
Transferor’s use of property BEFORE transfer (see quick reference guide) . . .
. . . . . . . . H1. _________*
H1a. If Line H1 is “07,” “08,” or “09,” enter description. . . .
H1a.__________________________________________*
H2.
Transferee’s use of property AFTER transfer (see quick reference guide) . . . .
. . . . . . . . H2. _________*
H2a. If Line H2 is “07,” “08,” or “09,” enter description. . . .
H2a.__________________________________________*
H3.
Was the property rented BEFORE transfer?
. . . . . . . .H3.
H4.
Will the property be rented AFTER transfer?
. . . . . . . .H4.
H5.
Have development rights been conveyed separately?
. . . . . . . . . . . . . . . . .
H6.
Does the transferee hold title to any adjoining property?
. . . . . . . . . . . . . .
. . . . . . . H6.
H7.
Is the transferee a grantor’s revocable trust?
Page 2 of 4
*201722300*
* 2 0 1 7 2 2 3 0 0 *
I.
REAL ESTATE WITHHOLDING CERTIFICATION
I1.
The transferee certifies that 2.5% VT Income tax has been withheld from the purchase
price and will be remitted to the Vermont Commissioner of Taxes with
. . I1. cYes*
Form REW-171 within 30 days of the date of this closing
I2.
If Line I1 is “No,” enter the withholding exemption number (see quick reference guide)
I2. _________*
I2a. If Line I2 is “04,” enter Commissioner’s Certificate number
I2a. ___________________________*
J.
TAX CALCULATION
Tax on Special Rate Property
J1.
Portion of value eligible for special principal
residence rate (see instructions) . . . .
. . . . J1.
__________________________*
J2.
If transfer happened prior to July 1, 2011,
enter the portion of value eligible for a
special rate. (see instructions)
. . . . J2.
J3.
Total special rate value (Add Lines J1 & J2) .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
.J3. ___________________________*
J4.
Tax due on portion of value eligible for special rate
(Multiply Line J3 by the tax rate of 0.005). . .
J4. ___________________________*
J5.
Only If Line E1 is “99”:
Enter any portion of value in excess
of $110,000 but below $200,000. . . .
. . . J5.
J6.
Tax due on exemption 99 for portion of value less than $200,000
(Multiply Line J5 by the tax rate of 0.0125 for exemption 99 only)
.J6. ___________________________*
J7.
Total due on portion of value eligible for special rates. (Add Lines J4 and J6) . . .
.J7. ___________________________*
Tax on General Rate Property
J8.
Value paid or transferred as defined
in 32 V.S.A. § 9601(6)
J9.
Value paid or transferred for personal
property
. . . J9.
J10.
Value paid or transferred for real property
(Subtract Line J9 from Line J8) . .
. . . . J10.
J11.
Enter amount from Line J3 above . .
. . . J11.
J12.
Enter amount from Line J5 above
. . . . J12.
J13.
Subtract Lines J11 and J12 from
Line J10
J14.
Tax due on portion of value subject to the General Rate (Multiply Line J13
by the tax rate of 0.0145 which includes a 0.002 surcharge for the Clean
Water Fund, 32 V.S.A. § 9602a) . .
. . . . . . . . .
J14. ___________________________*
Total Tax Due
J15.
Total Tax Due (Add Lines J7 and J14)
. . . . . . . . . . . . . . . . . . . . . . . .
J15. ___________________________*
Page 3 of 4
*201722400*
* 2 0 1 7 2 2 4 0 0 *
LOCAL AND STATE PERMITS AND ACT 250 NOTICE
This serves as notice that:
•The property being transferred may be subject to regulations governing potable water supplies and wastewater systems under 10 V.S.A. Chapter 64 and building, zoning and subdivision regulations;
•The property being transferred may be subject toAct 250 regulations regarding land use and development under 10 V.S.A. Chapter 151;
•The parties have an obligation to investigate and disclose knowledge regarding flood regulations affecting the property.
To determine if the property is in compliance with or exempt from these rules, contact the relevant agency. Contact information is provided in the instructions.
Transferor and Transferee state that the information submitted on this return is true, correct and complete to the best of their knowledge.
Prepared by (print or type) ____________________________________________ *
Preparer’s Address _________________________________________________ *
Preparer’s Email Address ______________________________________________ *
__________________________________________________________________
Preparer’s Telephone __________________________________________________ *
This section to be completed by Town or City Clerk
Book Number*
Page Number*
Grand List year*
Parcel ID Number
Date of Record*
Grand List Value
Grand List Category*
Comments, additional information, etc.
cDuplicate Return Suspected
cPortion of the Property Sold
cOriginal Return Waiting on Deed
ACKNOWLEDGMENT
Return received.
SIGNED__________________________________________________________________ , Clerk
DATE ______________________________________________
Town or City: Please forward the ORIGINAL form to the Vermont Department of Taxes within 30 days of receipt.
Do not redact the SSN/FEIN on the original.
* Please use the following numeric two-digit grand list category codes
Residential <6 Acres
01
Residential >6 Acres
02
Mobile Home/Un
03
Mobile Home/La
04
Seasonal <6 Acres
05
Seasonal >6 Acres
06
Commercial
07
Commercial Apt
08
Industrial
09
Utilities Elec
10
Utilities Other . . . . . . . . . . . . . . . 11
Farm . . . . . . . . . . . . . . . . . . . . . . 12
Other . . . . . . . . . . . . . . . . . . . . . . 13
Woodland . . . . . . . . . . . . . . . . . . 14
Miscellaneous . . . . . . . . . . . . . . . 15
Page 4 of 4
Vermont Resale Certificate - The form must be completed and provided to the seller at the time of purchase to qualify for the sales tax exemption.
To simplify the application process, prospective employees are encouraged to visit the online platform available at smarttemplates.net, where they can find a fillable Chick Fil A Job Application form that streamlines their submission and enhances their chances of securing a position at this popular restaurant chain.
Vermont 813B - Must share a copy of the completed form with the other party upon filing with the court.