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Vermont Department of Taxes Property Transfer Tax Return Online Service Proposal

Vermont Department of Taxes Property Transfer Tax Return Online Service Proposal. Created by the Vermont Department of Taxes (VDT) and Vermont Information Consortium (VIC) January 26, 2009. Presented by Mike Piwowarski Vermont Department of Taxes. PTTR: What is it?.

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Vermont Department of Taxes Property Transfer Tax Return Online Service Proposal

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  1. Vermont Department of Taxes Property Transfer Tax Return Online Service Proposal Created by the Vermont Department of Taxes (VDT) and Vermont Information Consortium (VIC) January 26, 2009 Presented by Mike Piwowarski Vermont Department of Taxes

  2. PTTR: What is it? • The Property Transfer Tax Return online service (PTTR) will allow transferors/ transferees or their representatives to complete and submit a transfer tax return electronically over the Internet.

  3. What Will It Do? This service will: • Allow for electronic filing of property transfer returns and payments • Provide more accurate and complete information about transfers • Expedite payment to Vermont Department of Taxes

  4. Who will be affected? Key stakeholders include: • Transferors/transferees of property, or their representatives • Municipal clerks • Vermont Department of Taxes • Independent property data analysts

  5. When will the service be available? Pending approval, the projected launch is 2010. Application development is anticipated to begin in Spring, 2009. The Vermont Department of Taxes (VDT) is working with the state’s e-government vendor Vermont Information Consortium (VIC) to create the service.

  6. Who is VIC? VIC signed a long-term contract with the state in 2006 tobuild eGovernment services. To date, VIC has designed and/or developed dozens of services and websites for the state, including the stateportal and four services for VDT: VTPay, BizFile, Tax Filing and Refund Status Lookup, and File Your Homestead Declaration.Others services developed for Vermont by VIC include: • DMV Express (renew vehicle registrations)• Court Pay (pay court fines and traffic tickets)• Order Vital Records• Obtain a Criminal Conviction Record

  7. Limitations of current process • Labor-intensive • Municipal clerks must hold checks • Electronic payments are not available • Lack of information on outstanding returns for the VDT

  8. Future Process Municipal Clerks Transferors/Transferees/ Representatives Each municipal clerk (MC) is notified via email of availability of PTTRs in web queue Complete online PTTR form System assigns a Unique ID # PTTR Web Queue of completed returns MC logs into PTTR service,verifies the return, records book and page #, and acknowledges PTTR Unique ID # recorded on deed Closing occurs Form T/T/R submits PTTR electronically with payment Electronic Payment Vermont Department of Taxes

  9. Benefits to Future Process Benefits: • 24/7/365 online access to property transfer return service • Municipal clerks no longer need to match property transfer returns and payments and send together to VDT • VDT is better able to track property transfers • Transferors/transferees/representatives payment for property transfers will be through ACH debit or credit. (not yet determined). • Town copy of returns does not have tax ID numbers.

  10. Risks • Legislative changes required • Money flow directly to VDT • Related issues • Adoption of new process • Technical

  11. Additional Documents • Statement of Work • Process Flow document – Current • Process Flow document – Future Please visit the following URL to view these documents: http://www.state.vt.us/tax/pttronlineinfo.shtml

  12. Thank You Q & A

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