Get the free vermont form ptt 172 - tax vermont

FORM PTT172 Instructions Property Transfer Tax Return General Information When is a Property Transfer Tax Return Required? The property transfer tax is a tax on the transfer by deed of title to real

How to fill out vermont form ptt 172

Point-by-point instructions on how to fill out Vermont Form PTT 172:

1. First, gather all the required information and documents. You will need details about the property being transferred, such as the address and property type, as well as information about the buyer and seller, including their names, addresses, and contact information.
2. Begin by filling out the top section of the form, labeled "TRANSFEROR'S INFORMATION." Provide the transferor's full legal name, mailing address, city, state, and zip code.
3. Move on to the next section, "TRANSFEREE'S INFORMATION." Fill in the transferee's complete legal name, mailing address, city, state, and zip code.
4. Next, provide the specific details about the property being transferred in the "PROPERTY DESCRIPTION" section. Include the property type (e.g., residential, commercial), the complete street address (including apartment/unit number, if applicable), and any additional necessary details.
5. In the "PURCHASE PRICE" section, enter the agreed-upon purchase price of the property. Make sure to indicate whether any personal property or fixtures are included in the purchase price.
6. If there are any exemptions applicable to the transaction, such as a senior citizen or veteran exemption, indicate them in the "EXEMPTION" section. Provide the necessary documentation to support the exemption if required.
7. Continue by filling in the "STATEMENT OF ACTUAL VALUE" section. Enter the actual value of the property and provide an explanation if the purchase price differs from the actual value.
8. If there are any encumbrances on the property, like mortgages or liens, include them in the "ENCUMBRANCES" section. List the name of the entity holding the encumbrance and the amount.
9. In the "USING PROPERTY FOR SCHOOL DESIGNATION" section, specify if the property is being used or will be used for school purposes. If applicable, provide the school district name and code.
10. Finally, review the completed form for accuracy, ensuring that all sections are filled out correctly and all required information is provided. Sign and date the form.

Who needs Vermont Form PTT 172?

1. Individuals who are involved in property transfers in the state of Vermont, either as the transferor (seller) or the transferee (buyer), will need to fill out Vermont Form PTT 172.
2. This form is required for any real estate transaction, whether it is a residential or commercial property transfer.
3. Both parties involved in the transaction must provide the necessary information and complete the form accurately in order to comply with Vermont state regulations.

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What is vermont form ptt 172?

Vermont form ptt 172 is a tax form used for reporting real estate transfer tax.

Who is required to file vermont form ptt 172?

Any individual or entity involved in a real estate transaction in Vermont is required to file form ptt 172.

How to fill out vermont form ptt 172?

To fill out Vermont form ptt 172, you will need to provide information about the property being transferred, the parties involved, and the purchase price.

What is the purpose of vermont form ptt 172?

The purpose of Vermont form ptt 172 is to calculate and collect the appropriate real estate transfer tax.

What information must be reported on vermont form ptt 172?

Information such as the property address, legal description, names and addresses of the parties involved, purchase price, and any exemptions claimed must be reported on Vermont form ptt 172.