Hinesburg, Vermont Property Taxes
The median property tax rate in Hinesburg, VT is 2.12%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Hinesburg at $260,000, the typical annual property tax bill reaches $5,718, exceeding the national median of $2,690. Property taxes in Hinesburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hinesburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hinesburg or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hinesburg, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.12%
Estimate Property Tax Bill
$5,512
Ownwell’s Hinesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hinesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hinesburg to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hinesburg, Vermont
Property taxes in Hinesburg, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hinesburg is 1.80%, higher than both the Vermont state median of 1.76% and the U.S. national median of 0.99%. Local government entities within Hinesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hinesburg estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Hinesburg's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05461 zip code has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these cities compare with Hinesburg provides valuable insights into the varying tax landscape across Addison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hinesburg Tax Rate
2.12%
Average Addison County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hinesburg, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05461 | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Hinesburg, Vermont
In Hinesburg, Vermont, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the county for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Hinesburg, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Hinesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 05461 has both the highest and lowest median tax bill, which stands at $5,718.
Average Hinesburg Assessed Value
$260,000
Average Addison County Assessed Value
$233,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hinesburg, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05461 | $140,380 | $193,450 | $260,000 | $349,350 | $465,520 |
Source: Ownwell
Property Tax Bills Across Hinesburg, Vermont
In Hinesburg, VT, property tax bills are determined based on the assessed value of the property and the local tax rate. The assessed value is an estimate of the property's market value as determined by the town's assessor. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as the property's location, size, and condition can influence its assessed value. Additionally, any improvements or renovations can lead to a higher assessment and, consequently, a higher tax bill. For homeowners in Hinesburg, the median home price is $260,000, with the median tax bill being $5,718. This is significantly higher than the national median property tax rate of 0.99%, reflecting the local tax rate and property values. High property taxes can impact homeowners by increasing the overall cost of owning a home, which may affect affordability and long-term financial planning.
Average Hinesburg Tax Bill
$5,718
Average Addison County Tax Bill
$5,451
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Hinesburg, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05461 | $5,718 | $5,718 | $5,718 | $5,718 | $5,718 |
Source: Ownwell