Manchester, Vermont Property Taxes
The median property tax rate in Manchester, VT is 1.82%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Manchester, the typical annual property tax bill reaches $6,270, exceeding the national median of $2,690. Property taxes in Manchester 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 Manchester'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 Manchester 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
Manchester, 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 Manchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manchester 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 Manchester, Vermont
Property taxes in Manchester, Vermont, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Manchester is 1.82%, significantly higher than the U.S. national median of 0.99%. Local government entities within Manchester set these rates annually, and they can vary across different neighborhoods. Each year, Manchester 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 Manchester's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05254 has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these cities compare with Manchester provides valuable insights into the varying tax landscape across Bennington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manchester Tax Rate
1.82%
Average Bennington County Tax Rate
2.14%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manchester, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05254 | 1.82% | 1.82% | 1.82% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Manchester, Vermont
In Manchester, 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 Bennington 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 Manchester, 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. The median home price in Manchester is $343,900, with property tax bills ranging significantly. The 25th percentile tax bill is $4,229, while the 75th percentile tax bill reaches $9,577. The 90th percentile tax bill can be as high as $14,111. Interestingly, the zip code 05254 has both the highest and lowest median tax bill at $6,270. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Manchester Assessed Value
$343,900
Average Bennington County Assessed Value
$189,500
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manchester, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05254 | $169,200 | $232,000 | $343,900 | $525,350 | $774,050 |
Source: Ownwell
Property Tax Bills Across Manchester, Vermont
Property tax bills in Manchester, located in Bennington County, VT, are determined by assessing the market value of a property and applying the local tax rate. The median home price in Manchester is $343,900, and homeowners can expect their tax bills to vary significantly based on their property's assessed value. For instance, property tax bills at the 25th percentile are around $4,229, while those at the 75th percentile reach approximately $9,577. At the 90th percentile, tax bills can soar to $14,111. These figures show how property taxes can significantly impact homeowners' finances, particularly when compared to the national median property tax rate of 0.99%. In Manchester, the highest and lowest median tax bills are both recorded at $6,270 in the 05254 zip code, highlighting the consistency within this area. Factors such as property improvements, neighborhood developments, and changes in the local tax rate can further influence the exact amount a homeowner will owe annually.
Average Manchester Tax Bill
$6,270
Average Bennington County Tax Bill
$4,152
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Manchester, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05254 | $3,085 | $4,229 | $6,270 | $9,577 | $14,111 |
Source: Ownwell