A Homestead Declarations must be filed by April 15th of each year by every Vermont resident whose property meets the definition of a homestead. A Vermont homestead is the principal dwelling and parcel of land surrounding the dwelling, owned by a resident individual as of April 1 and occupied as a person's domicile. Homestead Declaration Form is Form HS-122. The State of Vermont taxes property under two different rates, the homestead rate and the nonresidential rate. Property owners must have a homestead declaration on file with the Department of Taxes to be classified as a homestead and pay the homestead rate.