North Pownal, Vermont Property Taxes
The median property tax rate in North Pownal, VT is 2.14%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in North Pownal, the typical annual property tax bill reaches $4,224, exceeding the national median of $2,690. Property taxes in North Pownal 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 North Pownal'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 North Pownal 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
North Pownal, 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 North Pownal Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Pownal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Pownal 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 North Pownal, Vermont
Property taxes in North Pownal, Vermont, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in North Pownal is 1.86%, significantly higher than both the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within North Pownal set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Pownal 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 North Pownal's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05260 zip code has the highest median property tax rate of 1.86%, while the 05260 zip code also has the lowest median tax rate of 1.86%. Understanding how these cities compare with North Pownal 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 North Pownal Tax Rate
2.14%
Average Bennington County Tax Rate
2.14%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Pownal, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05260 | 2.14% | 2.14% | 2.14% | 2.14% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across North Pownal, Vermont
In North Pownal, 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 North Pownal, 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 North Pownal helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $4,224, found in the zip code 05260.
Average North Pownal Assessed Value
$193,200
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 North Pownal, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05260 | $104,000 | $136,550 | $193,200 | $276,050 | $434,400 |
Source: Ownwell
Property Tax Bills Across North Pownal, Vermont
In North Pownal, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in North Pownal, located in Bennington County, experience a range of property tax bills. For example, the 25th percentile tax bill is approximately $2,926, while the 75th percentile tax bill rises to around $6,856. At the higher end, the 90th percentile tax bill can reach up to $10,106. These tax bills can significantly impact homeowners, as they are influenced by factors such as home value and local tax rates. Compared to the national median property tax rate of 0.99%, the property taxes in North Pownal can be quite substantial. The highest median tax bill in the area is $4,224, which is found in the 05260 zip code. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average North Pownal Tax Bill
$4,224
Average Bennington County Tax Bill
$4,152
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across North Pownal, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05260 | $2,229 | $2,926 | $4,224 | $6,856 | $10,106 |
Source: Ownwell