Maidstone, Vermont Property Taxes
The median property tax rate in Maidstone, VT is 1.85%, considerably higher than the national median of 0.99% but below the Vermont state median of 2.11%. With the median home value in Maidstone at $234,200, the typical annual property tax bill reaches $1,633, which is lower than the national median of $2,690. Property taxes in Maidstone are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Maidstone'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 Maidstone or another part of Essex County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maidstone, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$4,333
Ownwell’s Maidstone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maidstone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maidstone 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 Maidstone, Vermont
Property taxes in Maidstone, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maidstone is 1.85%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Maidstone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maidstone 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 Maidstone's effective property tax rate to other areas in Vermont and the national median. For comparison, the 05905 zip code has the highest median property tax rate of 1.85%, while the same zip code also has the lowest median tax rate of 1.85%. Understanding how these areas compare with Maidstone provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maidstone Tax Rate
1.85%
Average Essex County Tax Rate
2.23%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maidstone, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05905 | 1.76% | 1.79% | 1.85% | 1.90% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Maidstone, Vermont
In Maidstone, 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 local 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 Maidstone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in Maidstone is $1,633 in the 05905 zip code, while the lowest median tax bill is also $1,633 in the same zip code.
Average Maidstone Assessed Value
$234,200
Average Essex County Assessed Value
$115,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maidstone, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05905 | $105,100 | $173,850 | $234,200 | $299,800 | $372,700 |
Source: Ownwell
Property Tax Bills Across Maidstone, Vermont
In Maidstone, VT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Maidstone is $234,200, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, location, and market trends can influence the assessed value. Homeowners in Maidstone can expect their tax bills to vary within a range; the 25th percentile tax bill is $1,361, while the 75th percentile tax bill is $1,905. At the 90th percentile, the tax bill reaches $2,068. In comparison to the national median property tax rate of 0.99%, Maidstone's property taxes are influenced by local factors that can result in higher or lower bills. The highest and lowest median tax bills in the area are both $1,633, indicating a relatively consistent tax rate across different properties. This consistency helps homeowners anticipate their annual expenses more accurately.
Average Maidstone Tax Bill
$1,633
Average Essex County Tax Bill
$2,384
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Maidstone, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05905 | $1,198 | $1,361 | $1,633 | $1,905 | $2,068 |
Source: Ownwell