Tax adjustment subtraction could complicate home sale

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A change in the way the state helps Vermonters lower their property tax bills could complicate transactions when people buy and sell homes.

That’s because state tax adjustments will be subtracted from local property tax bills rather than mailed directly to property owners.

And the law says sellers receive the tax savings because the adjustments are based on the sellers’ household income.

The concern is how sellers get this money.

Transactions could be complicated if a buyer is asked to pay a prorated share of the reduction on a tax bill.

Adjustments that sometimes are larger than one-thousand dollars could break a deal for a modest-income buyer.

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