Stamford, Vermont Property Taxes
The median property tax rate in Stamford, VT is 2.39%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Stamford, the typical annual property tax bill reaches $3,618, exceeding the national median of $2,690. Property taxes in Stamford 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 Stamford'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 Stamford 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
Stamford, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.39%
Estimate Property Tax Bill
$4,209
Ownwell’s Stamford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stamford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stamford 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 Stamford, Vermont
Property taxes in Stamford, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stamford is 2.39%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Stamford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stamford 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 Stamford's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05352 zip code has the highest median property tax rate of 2.39%, while the same zip code also has the lowest median tax rate of 2.39%. Understanding how these cities compare with Stamford 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 Stamford Tax Rate
2.39%
Average Bennington County Tax Rate
2.14%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stamford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05352 | 2.39% | 2.39% | 2.39% | 2.39% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Stamford, Vermont
In Stamford, 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. 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 Stamford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $3,618, found in the 05352 zip code.
Average Stamford Assessed Value
$176,100
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 Stamford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05352 | $93,440 | $131,400 | $176,100 | $243,600 | $313,400 |
Source: Ownwell
Property Tax Bills Across Stamford, Vermont
In Stamford, VT, property tax bills are determined by a combination of 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 local assessor. This value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Stamford, the median home price is $176,100. With a consistent tax bill of $3,618 across various percentiles, this indicates a tax rate that is significantly higher than the national median property tax rate of 0.99%. This higher tax rate can have a substantial impact on homeowners, affecting their overall housing costs and potentially influencing their financial decisions. Factors such as property improvements, changes in market conditions, and local budget requirements can also affect the assessed value and, consequently, the tax bill. Homeowners in Stamford should be aware of these factors and consider them when budgeting for their annual expenses.
Average Stamford Tax Bill
$3,618
Average Bennington County Tax Bill
$4,152
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Stamford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05352 | $3,618 | $3,618 | $3,618 | $3,618 | $3,618 |
Source: Ownwell