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Bill would let tax commissioner reassess higher transfer‑tax rate when landlord certificates are sham
Summary
As part of a miscellaneous tax bill, staff proposed language giving the tax commissioner authority to assess the higher 3.4% transfer‑tax rate when a landlord certificate or LLC structure masks a bona fide landlord‑tenant relationship. The proposal lists criteria—related‑party status, market rent, and business purpose—and was presented for later Department of Taxes testimony.
Committee staff presented a provision in the miscellaneous tax bill intended to curb avoidance of Vermont’s higher transfer tax aimed at second‑home sales. Kirby Keating, legislative counsel, said the bill would permit the tax commissioner to assess the higher rate under subdivision 4 when a transferee files a landlord certificate or claims a rental deduction but the arrangement is not a bona fide landlord‑tenant…
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