Belvidere Center, Vermont Property Taxes
The median property tax rate in Belvidere Center, VT is 2.31%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Belvidere Center at $179,000, the typical annual property tax bill reaches $3,534, exceeding the national median of $2,690. Property taxes in Belvidere Center 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 Belvidere Center'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 Belvidere Center 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
Belvidere Center, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$4,135
Ownwell’s Belvidere Center Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Belvidere Center with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Belvidere Center to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Belvidere Center, Vermont
Property taxes in Belvidere Center, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belvidere Center 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 Belvidere Center set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belvidere Center 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 Belvidere Center's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05442 zip code has the highest median property tax rate of 1.86%, while the 05442 zip code also has the lowest median tax rate of 1.86%. Understanding how these cities compare with Belvidere Center provides valuable insights into the varying tax landscape across Lamoille County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belvidere Center Tax Rate
2.31%
Average Lamoille County Tax Rate
2.18%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belvidere Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05442 | 1.07% | 1.49% | 2.31% | 2.31% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Belvidere Center, Vermont
In Belvidere Center, 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 Lamoille 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 Belvidere Center, 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 Belvidere Center helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Belvidere Center, Vermont
Source: Ownwell
$125,650
$285,025
$444,400
Average Belvidere Center Assessed Value
$179,000
Average Lamoille County Assessed Value
$219,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belvidere Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05442 | $60,300 | $116,700 | $179,000 | $257,450 | $348,800 |
Source: Ownwell
Property Tax Bills Across Belvidere Center, Vermont
In Belvidere Center, located in Lamoille County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the market value of the property. The median home price in Belvidere Center is $179,000, which serves as a baseline for calculating tax bills. Factors such as property location, size, and condition play a crucial role in determining the assessed value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For instance, homeowners in Belvidere Center can expect a tax bill ranging from $3,051 at the 25th percentile to $4,204 at the 90th percentile. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Belvidere Center's tax rates reflect the local community's specific needs and priorities.
Average Belvidere Center Tax Bill
$3,534
Average Lamoille County Tax Bill
$3,189
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Belvidere Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05442 | $2,621 | $3,051 | $3,534 | $4,130 | $4,204 |
Source: Ownwell