This is the buyer's obligation, unless the contract states otherwise. If the property being sold or purchased is not a principal residence, and was acquired by the seller less than six years previously, there may be a tax on any gain the seller realizes in the sale. The tax is owed by the seller and can be difficult to compute. Seller should talk to an accountant, lawyer or the Vermont Tax Department if they believe a Land Gains Tax may be owed. Finally, there are town and school property taxes.
Unpaid taxes are a lien against property, and are generally prorated and paid as of closing.
Under the State's new educational tax scheme, calculating tax prorations can be tricky as the income of the owner may affect the tax owed. The State Tax Department publishes a pamphlet which contains forms and information regarding state taxes which may be owed at closing. Under some circumstances, withholding is required to satisfy potential state tax liability. If you are interested, you may qualify for an energy efficient mortgage. For more information, check out Energy Rated Homes of Vermont.