§ 9606. Property transfer return

(a)(1) In the case of property transfer by deed, a property transfer return complying with this section shall be delivered to a town clerk at the time a deed evidencing a transfer of title to property is delivered to the clerk for recording.

(2) In the case of transfer or acquisition of a controlling interest in a person with title to property for which a deed is not given, a property transfer return complying with this section shall be delivered to the Commissioner within 30 days after the transfer or acquisition.

(b) The property transfer return required by this section shall be in such form and with such signatures as the Commissioner shall prescribe. If the return is filed with respect to a transfer which is claimed to be exempt from the tax imposed by this chapter, the return shall set forth the basis for such exemption. If the return is filed with respect to a transfer subject to such tax, the return shall truly disclose the value of the property transferred, together with such other information as the Commissioner may reasonably require for the proper administration of this chapter. The return shall include notice that the property may be subject to regulations governing potable water supplies and wastewater systems under 10 V.S.A. chapter 64 and to building, zoning, and subdivision regulations; and that the parties have an obligation under law to investigate and disclose his or her knowledge regarding flood regulation, if any, affecting the property.

(c) For receiving and acknowledging a property transfer return under this chapter, there shall be paid to the town clerk at the time of filing a fee as provided for in subdivision 1671(a)(6) of this title.

(d) The property transfer tax return shall not be required of properties qualified for the exemption stated in subdivision 9603(17) of this title, or qualified for the exemption stated in subdivision 9603(2) of this title if the transfer is of an interest in property for highway purposes and the consideration for the transfer is $10,000.00 or less. An entity acquiring such properties shall notify the listers of a municipality of the grantors, grantees, consideration, date of execution, and location of the property when it files for recording a deed that does not require a transfer tax return under this subsection.

(e)(1) In the case of property transferred by deed, the Commissioner of Taxes is authorized to disclose to any person any information appearing on a property transfer tax return, including statistical information derived therefrom, and such information derived from research into information appearing on property transfer tax returns as is necessary to determine if the property being transferred is subject to 10 V.S.A. chapter 151, except the Commissioner shall not disclose the Social Security number, federal identification number, e-mail address, or telephone number of any person pursuant to this subsection.

(2) In the case of transfer or acquisition of a controlling interest in a person with title to property for which a deed is not given, the return submitted to the Commissioner shall be treated as a tax return and tax return information under 32 V.S.A. § 3102. (Added 1967, No. 146, § 1, eff. Jan. 1, 1968; amended 1969, No. 291 (Adj. Sess.), § 14, eff. 60 days after April 9, 1970; 1971, No. 84, § 17; 1973, No. 263 (Adj. Sess.), § 4, eff. 30 days from April 16, 1974; 1979, No. 159 (Adj. Sess.), § 19; 1981, No. 38, § 2, eff. April 21, 1981; 1987, No. 64, §§ 5, 9; 1987, No. 76, § 18; 1993, No. 170 (Adj. Sess.), § 16; 1997, No. 60, § 52c, eff. Jan. 1, 1998; 1999, No. 155 (Adj. Sess.), § 12a; 2001, No. 133 (Adj. Sess.), § 12, eff. June 13, 2002; 2003, No. 70 (Adj. Sess.), § 55, eff. March 1, 2004; 2009, No. 47, § 14; 2009, No. 160 (Adj. Sess.), § 17; 2013, No. 73, § 44, eff. June 5, 2013; 2015, No. 40, § 32; 2017, No. 73, § 6, eff. June 13, 2017; 2019, No. 71, § 12.)