Roxbury, Vermont Property Taxes
The median property tax rate in Roxbury, VT is 2.21%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Roxbury, the typical annual property tax bill reaches $1,078, exceeding the national median of $2,690. Property taxes in Roxbury 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 Roxbury'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 Roxbury 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
Roxbury, Vermont Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$4,220
Ownwell’s Roxbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roxbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roxbury 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 Roxbury, Vermont
Property taxes in Roxbury, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roxbury is 1.59%, higher than both the Vermont state median of 1.76% and the U.S. national median of 0.99%. Local government entities within Roxbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roxbury 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 Roxbury's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05669 zip code has the highest median property tax rate of 2.21%, while the 05669 zip code also has the lowest median tax rate of 2.21%. Understanding how these cities compare with Roxbury provides valuable insights into the varying tax landscape across Addison, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roxbury Tax Rate
2.21%
Average Addison County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roxbury, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05669 | 2.21% | 2.21% | 2.21% | 2.21% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Roxbury, Vermont
In Roxbury, 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 Addison County Appraisal District 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 Roxbury, 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. For instance, the median home price is $48,850, with tax bills ranging from $856 at the 25th percentile to $3,734 at the 90th percentile. The highest and lowest median tax bill, both at $1,078, are found in the 05669 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Roxbury Assessed Value
$48,850
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 Roxbury, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05669 | $28,470 | $38,775 | $48,850 | $128,125 | $169,240 |
Source: Ownwell
Property Tax Bills Across Roxbury, Vermont
In Roxbury, VT, property tax bills are calculated based on the assessed value of a property. The local government determines this value, which is then multiplied by the tax rate to produce the annual tax bill. Factors influencing the tax bill include the property's location, size, and condition, as well as any improvements or renovations made. Homeowners in Roxbury can expect varying tax bills. For instance, the 25th percentile tax bill is around $856, while those in the 75th percentile pay approximately $2,826. At the higher end, the 90th percentile tax bill reaches up to $3,734. These figures highlight the range of property tax burdens within the area. Compared to the national median property tax rate of 0.99%, Roxbury's rates result in different tax obligations depending on property values and local assessments. Understanding these factors helps homeowners anticipate their annual expenses and budget accordingly, ensuring they are prepared for their property tax responsibilities.
Average Roxbury Tax Bill
$1,078
Average Addison County Tax Bill
$5,451
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Roxbury, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05669 | $628 | $856 | $1,078 | $2,826 | $3,734 |
Source: Ownwell