The person domiciled there must file the HS-122 and can request property tax adjustment credit. Ownership interest would be 50%.
This site has FAQ on ownership issues. http://www.state.vt.us/tax/propertyadjownership.shtml
Hope this helps.
Mary Jane Grace, Program Technician
Property Valuation and Review Division
Vermont Dept. of Taxes
From: Vermont Municipal Government Discussion Network [mailto:[log in to unmask]] On Behalf Of Town Of Fayston
Sent: Monday, August 03, 2009 2:56 PM
To: [log in to unmask]
Subject: HS 122
If there are two owners of a residential property, one lives there full
time/year round but the other does not. Does the full time resident receive
the full consideration of a possible property tax adjustment?