Vermont's combined tax revenues up 162.5% from Q1 to Q2 2023

Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

By Green Mountain Times

Jul 2, 2023

Combined tax revenues in Vermont increased 162.5% in the second quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Vermont collected $2.1 billion in taxes during the second quarter of 2023, compared to $781 million in the previous quarter.

The majority of the state’s tax revenue was collected through property taxes ($1.1 billion) and income taxes ($506 million).

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q2 Vermont Tax Collections