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Match Vermont renter credit base amounts for Franklin and Grand Isle to the department's tables #10130

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MaxGhenis merged 4 commits into from
Oct 13, 2026
Merged

Match Vermont renter credit base amounts for Franklin and Grand Isle to the department's tables #10130

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5116a94
Match Vermont renter credit base amounts for Franklin and Grand Isle
MaxGhenis Oct 11, 2026
05a9dfe
Test Franklin and Grand Isle renter credits against the department's …
MaxGhenis Oct 11, 2026
1a0fcf1
Check every Vermont renter credit amount against the department's tables
MaxGhenis Oct 11, 2026
bd06003
Fix Vermont renter credit final rounding ties and document future eff…
MaxGhenis Oct 13, 2026
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1 change: 1 addition & 0 deletions changelog.d/fix-vt-renter-credit-franklin-fmr.fixed.md
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Match the Vermont Department of Taxes' published renter credit base amounts for Franklin and Grand Isle in 2022, 2023 and 2025, and round both the base amount before the income phase-out and the final credit half up to whole dollars, including exact 50-cent ties.
135 changes: 87 additions & 48 deletions policyengine_us/parameters/gov/states/vt/tax/income/credits/renter/fair_market_rent.yaml
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Expand Up @@ -9,10 +9,12 @@ metadata:
- Household size
label: Vermont fair market rent amount
reference:
# The values are derived from the renter credit computation tables which represent 10% of the
# The values are derived from the renter credit computation tables which represent 10% of the
# yearly fair market rent
- title: 32 V.S.A. §6066. Homestead Property Tax Credit and Renter Credit (b)(A)
href: https://law.justia.com/codes/vermont/2022/title-32/chapter-154/section-6066/
- title: 32 V.S.A. § 6061(7)(C)
href: https://legislature.vermont.gov/statutes/section/32/154/06061
- title: Vermont Credit Amounts Based on HUD Data Based on Number of Bedrooms Website
href: https://tax.vermont.gov/individuals/renter-credit/calculator-and-credit-amounts
- title: 2025 Renter Credit Website Calculator
Expand All @@ -21,10 +23,47 @@ metadata:
href: https://tax.vermont.gov/sites/tax/files/documents/2024%20Renter%20Credit%20Website%20Calculator.xlsx
- title: 2023 Renter Credit Website Calculator
href: https://web.archive.org/web/20250526044955/https://tax.vermont.gov/document/2023-renter-credit-website-calculator
- title: 2023 Vermont Renter Credit Report, 2023 Credit Amounts (Based on HUD Fair Market Rents)
href: https://tax.vermont.gov/sites/tax/files/documents/renter_credit_2023.pdf#page=10
- title: 2022 Renter Credit Website Calculator
href: https://tax.vermont.gov/document/2022-property-tax-credit-calculator
href: https://tax.vermont.gov/sites/tax/files/documents/2022%20Renter%20Credit%20Website%20Calculator_1.xlsx
- title: 2022 Vermont Renter Credit Report, 2022 Credit Amounts (Based on HUD Fair Market Rents)
href: https://tax.vermont.gov/sites/tax/files/documents/renter_credit_2022.pdf#page=10
- title: 2021 Renter Credit Website Calculator
href: https://tax.vermont.gov/sites/tax/files/documents/2021%20Renter%20Credit%20Website%20Calculator_8.xlsx
- title: 2021 Vermont Credit Amounts Based on HUD Data Based on Number of Bedrooms
href: https://tax.vermont.gov/sites/tax/files/documents/renter_credit_2021.pdf#page=10
- title: HUD FY2025 Fair Market Rents
href: https://www.huduser.gov/portal/datasets/fmr/fmr2025/FY25_FMRs.xlsx
- title: HUD FY2024 Fair Market Rents
href: https://www.huduser.gov/portal/datasets/fmr/fmr2024/FY24_FMRs.xlsx
- title: HUD FY2023 Fair Market Rents
href: https://www.huduser.gov/portal/datasets/fmr/fmr2023/FY23_FMRs.xlsx
- title: HUD FY2022 Fair Market Rents
href: https://www.huduser.gov/portal/datasets/fmr/fmr2022/FY22_FMRs.xlsx
- title: HUD FY2021 Fair Market Rents
href: https://www.huduser.gov/portal/datasets/fmr/fmr2021/FY21_4050_FMRs_rev.xlsx
# Each county's value is HUD's fair market rent for the fiscal year that includes
# June 30 of the taxable year (FY2025 for 2025), for the county's HUD area, with
# household size n using the min(n, 4)-bedroom rent. Chittenden's 2,083 is the
# rent at which 10% x 12 reaches the $2,500 maximum the department applies to
# the credit amount (2,500 / 1.2 = 2,083.33).
#
# Franklin and Grand Isle use the average of the fair market rents for the State
# (32 V.S.A. § 6061(7)(C)). The following historical reconstructions use Vermont's
# 12 HUD fair market rent areas (the 11 nonmetropolitan counties and the
# Burlington-South Burlington MSA, which also holds Franklin and Grand Isle).
# They reproduce the published credit amounts; they are not department rules.
# The 2022-2025 calculators hard-code their credit tables, so they do not establish
# the averaging methods used to obtain those amounts:
# - 2021 and 2024: the average rounded to whole dollars (the 2021 calculator's
# fair market rent table holds 810, 1,000, 1,291 and 1,419).
# - 2022 reconstruction: the average of 11 areas, without Addison County
# (all 12 give 1,010, 1,251, 1,611 and 1,777, not the published 1,006,
# 1,242, 1,602 and 1,773).
# - 2023 reconstruction: the average with the Burlington four-bedroom rent
# (2,170) held to 2,083.33 (all 12 unadjusted give 1,913, not the published 1,904).
# - 2025: the unrounded average (1,057.75 x 1.2 = 1,269.3, published 1,269).
1:
ADDISON_COUNTY_VT:
2021-01-01: 846
Expand Down Expand Up @@ -58,16 +97,16 @@ metadata:
2025-01-01: 854
FRANKLIN_COUNTY_VT:
2021-01-01: 810
2022-01-01: 838
2023-01-01: 919
2022-01-01: 838.36
2023-01-01: 919.5
2024-01-01: 1_045
2025-01-01: 1_058
2025-01-01: 1_057.75
GRAND_ISLE_COUNTY_VT:
2021-01-01: 810
2022-01-01: 838
2023-01-01: 919
2022-01-01: 838.36
2023-01-01: 919.5
2024-01-01: 1_045
2025-01-01: 1_058
2025-01-01: 1_057.75
LAMOILLE_COUNTY_VT:
2021-01-01: 793
2022-01-01: 806
Expand Down Expand Up @@ -143,14 +182,14 @@ metadata:
2025-01-01: 946
FRANKLIN_COUNTY_VT:
2021-01-01: 1_000
2022-01-01: 1_035
2023-01-01: 1_132
2022-01-01: 1_035.36
2023-01-01: 1_131.83
2024-01-01: 1_283
2025-01-01: 1_298
GRAND_ISLE_COUNTY_VT:
2021-01-01: 1_000
2022-01-01: 1_035
2023-01-01: 1_132
2022-01-01: 1_035.36
2023-01-01: 1_131.83
2024-01-01: 1_283
2025-01-01: 1_298
LAMOILLE_COUNTY_VT:
Expand Down Expand Up @@ -228,16 +267,16 @@ metadata:
2025-01-01: 1_326
FRANKLIN_COUNTY_VT:
2021-01-01: 1_291
2022-01-01: 1_335
2023-01-01: 1_458
2022-01-01: 1_334.91
2023-01-01: 1_457.83
2024-01-01: 1_663
2025-01-01: 1_688
2025-01-01: 1_687.17
GRAND_ISLE_COUNTY_VT:
2021-01-01: 1_291
2022-01-01: 1_335
2023-01-01: 1_458
2022-01-01: 1_334.91
2023-01-01: 1_457.83
2024-01-01: 1_663
2025-01-01: 1_688
2025-01-01: 1_687.17
LAMOILLE_COUNTY_VT:
2021-01-01: 1_264
2022-01-01: 1_343
Expand Down Expand Up @@ -313,16 +352,16 @@ metadata:
2025-01-01: 1_351
FRANKLIN_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
GRAND_ISLE_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
LAMOILLE_COUNTY_VT:
2021-01-01: 1_378
2022-01-01: 1_439
Expand Down Expand Up @@ -398,16 +437,16 @@ metadata:
2025-01-01: 1_351
FRANKLIN_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
GRAND_ISLE_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
LAMOILLE_COUNTY_VT:
2021-01-01: 1_378
2022-01-01: 1_439
Expand Down Expand Up @@ -483,16 +522,16 @@ metadata:
2025-01-01: 1_351
FRANKLIN_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
GRAND_ISLE_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
LAMOILLE_COUNTY_VT:
2021-01-01: 1_378
2022-01-01: 1_439
Expand Down Expand Up @@ -568,16 +607,16 @@ metadata:
2025-01-01: 1_351
FRANKLIN_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
GRAND_ISLE_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
LAMOILLE_COUNTY_VT:
2021-01-01: 1_378
2022-01-01: 1_439
Expand Down Expand Up @@ -653,16 +692,16 @@ metadata:
2025-01-01: 1_351
FRANKLIN_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
GRAND_ISLE_COUNTY_VT:
2021-01-01: 1_419
2022-01-01: 1_478
2023-01-01: 1_587
2022-01-01: 1_477.91
2023-01-01: 1_586.94
2024-01-01: 1_800
2025-01-01: 1_829
2025-01-01: 1_828.75
LAMOILLE_COUNTY_VT:
2021-01-01: 1_378
2022-01-01: 1_439
Expand Down
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