Finance
Vermont's Land Gains Tax applies to:
AAll real estate transfers in Vermont
BShort-term gains from the sale of Vermont land held for less than 6 years✓ Correct
CAgricultural land conversions to residential use
DCommercial property sales over $500,000
Explanation
Vermont's Land Gains Tax is a state tax on the gain from selling Vermont land held for a short period. The tax rate decreases with the length of ownership and is designed to discourage rapid speculative sales of land.
Related Vermont Finance Questions
- In Vermont, which of the following is a common trigger for a prepayment penalty on a mortgage?
- Vermont lenders who charge points on a mortgage are effectively:
- Vermont's 'mortgage discharge' must be recorded within how many days of the mortgage being paid in full?
- A Vermont homeowner who refinances their mortgage primarily to reduce their monthly interest payment is engaging in a:
- Vermont's 'loan modification' option for distressed borrowers allows:
- Vermont's 'DSCR loan' (Debt Service Coverage Ratio) is common in commercial real estate and requires that:
- Vermont's 'private placement' real estate financing differs from public offerings in that it:
- A Vermont seller agrees to 'carry back' a second mortgage for the buyer. This is an example of:
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →