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The Vermont HS-132 form serves as an essential tool for homeowners who need to formally withdraw their Homestead Declaration. This declaration is crucial for determining property tax rates, as properties classified as homesteads benefit from a lower education property tax rate. Homeowners must file this form with the Vermont Department of Taxes under specific circumstances. These include selling the property, ceasing to use it as a homestead, or when the property is owned by an estate after the homeowner's death. Additionally, the form is necessary if a declaration was mistakenly submitted for a property that does not serve as a principal residence. Completing the HS-132 involves providing personal details, such as the homeowner's name and Social Security number, as well as the property's physical address and unique SPAN number. Homeowners must also indicate the reason for withdrawal by checking the appropriate box on the form. Timeliness is critical; for instance, if a property has been sold, the form must be submitted within thirty days of the closing date. By understanding the significance and requirements of the HS-132, homeowners can ensure compliance with Vermont tax regulations while effectively managing their property tax obligations.

Dos and Don'ts

When filling out the Vermont HS-132 form, there are important guidelines to follow. Here’s a list of things to do and avoid:

  • Do use blue or black ink to fill out the form.
  • Do ensure that all names and Social Security Numbers are entered correctly.
  • Do provide the complete mailing address for correspondence.
  • Do include the physical location of the homestead, avoiding PO Box addresses.
  • Do check the appropriate box that explains why you are withdrawing the declaration.
  • Don't leave any required fields blank; ensure all necessary information is provided.
  • Don't use “same” or town names in the address section; provide specific street or road names.
  • Don't forget to sign and date the form where indicated.
  • Don't submit the form later than thirty days after the closing date if the property has been sold.
  • Don't assume the property will automatically be classified as a homestead if it has been sold; the new owner must file their own declaration.

Similar forms

The Vermont Homestead HS-132 form is similar to the IRS Form 1040, which is the individual income tax return. Both documents require personal information, such as names and Social Security numbers. They serve as formal declarations that impact tax obligations. Just as the HS-132 informs the Vermont Department of Taxes about a change in homestead status, the 1040 informs the IRS about an individual's income and tax responsibilities for the year. Each form must be completed accurately and submitted by a specific deadline to avoid penalties.

The AAA International Driving Permit Application form is a document that enables drivers to legally operate a motor vehicle while abroad in countries that recognize the permit. This form establishes the driver’s eligibility and provides a translation of their state-issued driver’s license into several languages. It is an essential tool for Americans planning to drive when visiting foreign destinations, and more information can be found at https://onlinelawdocs.com/aaa-international-driving-permit-application/.

Another document similar to the HS-132 is the Vermont Property Transfer Tax Return (Form PV-400). This form is used to report the sale of property in Vermont. Like the HS-132, it requires details about the property and the parties involved in the transaction. Both forms must be filed within a certain timeframe after a property change occurs. The HS-132 withdraws a homestead declaration, while the PV-400 documents the transfer of ownership, ensuring that the state is informed of significant property changes.

The HS-132 also resembles the IRS Form 8822, which is used to change an address. Both forms require the filer to provide personal information, including names and Social Security numbers. While the HS-132 withdraws a homestead declaration, the Form 8822 updates the IRS with a new address for tax purposes. Each form plays a critical role in keeping tax records accurate and up-to-date, ensuring that the respective tax authorities have the correct information on file.

Lastly, the Vermont Homestead HS-132 form is akin to the Vermont Declaration of Domicile. This document establishes a person's primary residence and is used for various legal purposes. Both forms require detailed information about the property and the homeowner's status. While the HS-132 withdraws a previously filed homestead declaration, the Declaration of Domicile asserts a person's residency for legal and tax considerations. Both documents aim to clarify residency status, which is essential for tax assessments and legal rights.

Common mistakes

  1. Incorrect Name or Social Security Number: People often make mistakes by entering the wrong name or Social Security number of the homeowner. This can lead to delays or issues with processing the form.

  2. Improper Mailing Address: Failing to provide a complete and accurate mailing address can result in important correspondence not reaching the homeowner. It is essential to include the full address, avoiding PO Box or vague terms like "same."

  3. Missing SPAN Number: The School Property Account Number (SPAN) is required. Omitting this number can cause the form to be rejected or delayed.

  4. Incorrect Property Location: Some individuals mistakenly provide an incorrect street address or town name for the homestead being withdrawn. This information must be precise to ensure accurate processing.

  5. Failure to Check the Appropriate Box: It's crucial to select the correct reason for withdrawing the homestead declaration. Not doing so can lead to confusion and potential complications.

  6. Missing Signatures: The form must be signed by the homeowner. If someone is signing on behalf of the homeowner, they should also provide their information. Missing signatures can invalidate the form.

  7. Not Filing Within the Required Timeframe: If the property has been sold, the form must be submitted within thirty days of the closing date. Delaying the submission can have financial implications.

  8. Inaccurate Dates: Providing incorrect dates, such as the closing date or the date the property is no longer a homestead, can lead to misunderstandings about the status of the property.

  9. Ignoring Additional Instructions: Some people overlook specific instructions regarding properties owned by estates or those submitted in error. Understanding these details is vital for proper filing.

  10. Not Keeping a Copy: Failing to keep a copy of the submitted form can be a mistake. It is advisable to retain a copy for personal records and future reference.

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NOTICE TO WITHDRAW

FORM

VERMONT

VERMONT HOMESTEAD

HS-132

 

DECLARATION

 

 

 

 

 

 

 

*101321100*

*101321100*

PRINT IN BLUE OR BLACK INK

Enter name used to file VT Homestead Declaration

Social Security

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Last Name

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Spouse or

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CU Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Last Name

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Spouse or CU Partner Social Security Number

First

Name

First

Name

- -

Initial

Initial

Mailing Address (Number and Street/ Road or PO Box)

City/Town

Location of Homestead Being Withdrawn

State

Zip

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Code

 

City/Town of Homestead

Being Withdrawn

number, street / road name (Do not use PO Box, “same”, or Town name)

SPAN Number of Homestead

 

 

 

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Being Withdrawn

 

 

 

 

 

 

 

 

 

 

 

 

(REQUIRED)

(From your property tax bill)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property declared as a homestead must be owned and occupied by the owner as his or her principal residence on April 1 of each year. If you filed a Homestead Declaration and any of the following categories apply to you, check the applicable box to withdraw the declaration and file this form with the Vermont Department of Taxes.

 

 

 

 

 

 

 

 

 

 

 

 

 

NOTE: If the new owner will use the property

PROPERTY SOLD.

This notice must be filed within thirty (30) days of closing date.

as a principal residence, the new owner

must file Form HS-131, VT Homestead

Date of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Declaration, to be taxed at the

Closing

 

 

 

 

 

 

 

 

 

 

 

 

homestead education property tax rate.

 

Month

 

Day

 

 

 

Year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROPERTY NO LONGER A HOMESTEAD AS OF APRIL 1,

Year

PROPERTY OWNED BY ESTATE and it has been more than one year since the homeowner’s death.

DECLARATION SUBMITTED IN ERROR. The property is not my principal residence.

I hereby withdraw the VT Homestead Declaration on the property identified above for the reason checked. This information is true, correct and complete to the best of my knowledge and belief.

Signature

Date

Telephone Number (optional)

 

 

 

 

 

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Spouse or CU Partner Signature

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Check here if authorizing the VT Department of Taxes to discuss this return and attachments with your preparer.

Preparer’s Use Only

Preparer’s signature

Date

Preparer’s

 

 

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PTIN

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Firm’s name (or yours if self-employed) and address

 

EIN

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preparer’s Telephone Number

 

 

 

 

 

 

 

 

 

 

 

 

 

Form HS-132

10/10

INSTRUCTIONS FOR FORM HS-132

NOTICE TO WITHDRAW VERMONT HOMESTEAD DECLARATION

Use this form to withdraw a Homestead Declaration if:

(1)you have sold the property;

(2)it is no longer being used as a homestead;

(3)the property is owned by an estate and it has been more than one year since the homeowner's death; or

(4)the declaration was submitted in error.

HOMEOWNER INFORMATION

Enter the name and Social Security Number of the homeowner who filed the Homestead Declaration.

Enter the address where correspondence concerning the Homestead Declaration for this property should be sent.

Enter the physical location and the city/town where the property is located. The physical location is the number of the street or road and city/town of the property. Example: 123 Main Street Montpelier 658 Route 12 Elmore 79 Swift Street Condo B-7 Burlington

SPAN (School Property Account Number): This is a unique identification number assigned by the town. Enter the 11-digit number printed in the Housesite information section of the property tax bill.

REASON FOR WITHDRAWING DECLARATION

Check the box for the applicable situation to withdraw the Homestead Declaration.

(1)Property Sold Notification to the VT Department of Taxes that a property has been sold is required within thirty (30) days of the closing date. If the sale is after April 1, the property continues to be classified as a homestead until the following April 1. If the new owner uses the property as his or her principal homestead, he or she must file a Homestead Declaration in order to make a property tax adjustment claim. Sale of property includes conveyance of the property to a trust or creation of a life estate. A person who transferred his or her homestead to a revocable trust and who is the sole beneficiary files a Homestead Declaration by the following April 15 and checks Box 4a. If the life estate owner occupies the property as a homestead, the life estate holder must record

the life estate deed in the town offices and file a Homestead Declaration by the following April 15 checking Box 4b.

See 32 V.S.A. §§5401(7)(D) and 6062(e) for more information on homesteads owned by a trust or estate.

(2)Property No Longer A Homestead When the property is no longer used as a homestead, the Homestead Declaration must be withdrawn. Example: You filed a homestead declaration April 15 but move on September 1 of the same year and now rent the house.

(3)Property Owned By Estate Estates may be classified as homestead property up to the April 1 following the date of the homeowner's death provided the property is not rented during that time. The Homestead Declaration must be withdrawn after that year. Example: Property was the principal residence of a homeowner who died in 2011. The estate now owns the property. The property may remain classified as a homestead and be taxed at the homestead education property tax rate until April 2012 provided the property is not rented.

(4)Declaration submitted in error If you submitted a Homestead Declaration for a property that is not your principal residence, use this form to withdraw the declaration.

Signature The person who filed the Homestead Declaration signs this form. If you are signing on behalf of the homeowner, such as an estate, please use the preparer's signature area to provide your information so we may contact you should there be any questions.

Form HS-132 10/10

Documents used along the form

The Vermont HS-132 form is a crucial document for homeowners looking to withdraw their Homestead Declaration. However, it is often accompanied by other important forms and documents that help clarify the homeowner's situation or facilitate the withdrawal process. Below is a list of these documents, each serving a unique purpose.

  • Vermont Homestead Declaration (Form HS-131): This form is used by new owners to declare a property as their principal residence for tax purposes. It must be filed if the new owner intends to claim the homestead education property tax rate.
  • Property Tax Bill: This document provides essential information about the property, including the SPAN number, which is required for the HS-132 form. It also indicates the current tax status of the property.
  • Death Certificate: If the property is owned by an estate, a death certificate may be required to verify the homeowner's passing and confirm the timeline for withdrawing the Homestead Declaration.
  • Trust Documents: If the property has been transferred to a trust, these documents may need to be submitted to clarify ownership and the rights of the beneficiaries regarding the homestead status.
  • RV Bill of Sale: This document is essential for the sale and transfer of ownership of a Recreational Vehicle in Texas, and you can find more information at TopTemplates.info.
  • Sale Agreement: This document outlines the terms of the property sale and may be necessary to confirm the closing date, which impacts the timing for filing the HS-132.
  • Rental Agreement: If the property is no longer a homestead because it is being rented, a rental agreement may be useful to document this change in use.
  • Power of Attorney: If someone is filing the HS-132 on behalf of the homeowner, a power of attorney may be required to authorize them to act in this capacity.
  • IRS Form 4506-T: This form allows the Vermont Department of Taxes to obtain tax return information, which may be relevant if the homeowner’s tax status is under review.
  • Written Explanation: In some cases, a brief letter explaining the reason for withdrawing the Homestead Declaration can provide clarity and assist the Vermont Department of Taxes in processing the request.

Understanding these accompanying documents can make the process of withdrawing your Homestead Declaration smoother and more efficient. Each form serves a distinct purpose, ensuring that the Vermont Department of Taxes has all necessary information to process your request accurately.