Politics

Shumlin tax filings show $10 million in assets

Gov. Peter Shumlin released his 2013 tax return Friday, reporting $721,445 in gross income and total assets worth $10.3 million.

Shumlin’s 1040 IRS form shows most of his income comes from real estate he owns and rents. He reported $128,639 in wages and $349,091 in income from real estate, royalties, supplemental income and trusts.

The governor also reported earning $84,897 in dividends and $167,973 in capital gains.

The home of Gov. Peter Shumlin on Foster Road in East Montpelier. A state police vehicle is parked at the end of the driveway on Friday, while the governor was at work. VTDigger

Gov. Peter Shumlin’s house in East Montpelier is valued at $537,800. VTDigger file photo

Shumlin claimed his two daughters, Olivia and Rebecca, as dependents, listing himself as the head of household. Shumlin paid $120,000 in alimony to his ex-wife, Deborah Holway, last year, the return shows.

Shumlin owed $142,000 in taxes on an adjusted gross income of $601,445, the return shows. He paid $108,296 through withholding and quarterly tax payments and paid the IRS the remaining $35,087.

The governor’s campaign manager, Scott Coriell, also released a document showing Shumlin’s assets, which total $10,363,384.

They include 16 properties with a value of $3.8 million. Seven properties are in Brattleboro, four in Westminster, two in Putney and one in East Montpelier. He also listed a house, cabin and land in Cape Breton, Nova Scotia, and land on the island of Dominica.

Shumlin owns seven vehicles worth $128,300. They are a 2002 Volkswagen Passat, three Dodge trucks, a 1964 Porsche, a Grady-White boat and miscellaneous farm equipment.

The governor also has $2.2 million in investments in retirement funds, $3.3 million invested in equities/cash and $1 million in stock of Putney Student Travel, where he was co-director until he became governor.

The governor has a mortgage for various properties in Brattleboro worth $120,000.

On his return, Shumlin checked a box to contribute $3 to the presidential election campaign fund.

None of the other candidates for governor — Republican Scott Milne, Libertarian Dan Feliciano, Pete Diamondstone of the Liberty Union Party, or independents Emily Peyton, Cris Ericson and Bernard Peters — have released their tax returns. Milne said he intends to release his next month.

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Laura Krantz

About Laura

Laura Krantz is VTDigger's criminal justice and corrections reporter. She moved to VTDigger in January 2014 from MetroWest Daily, a Gatehouse Media newspaper based in Framingham, Mass. She won the 2013 Morley Piper First Amendment Award from the New England Newspaper and Press Association for her investigation of the Ashland Police Department. She is skilled in the use of public records to find the real story. She is a 2010 graduate of Boston University, where she studied comparative religion.

Email: [email protected]

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