East Randolph, Vermont Property Taxes
The median property tax rate in East Randolph, VT is 2.41%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in East Randolph at $158,000, the typical annual property tax bill reaches $3,765, exceeding the national median of $2,690. Property taxes in East Randolph are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding East Randolph'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 East Randolph 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
East Randolph, 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 East Randolph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Randolph 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 East Randolph, Vermont
Property taxes in East Randolph, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Randolph is 2.41%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within East Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Randolph 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 East Randolph's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05041 has the highest median property tax rate of 2.41%, while the same zip code also has the lowest median tax rate of 2.41%. Understanding how these cities compare with East Randolph provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Randolph Tax Rate
2.41%
Average Orange County Tax Rate
2.24%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Randolph, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05041 | 1.70% | 1.70% | 2.41% | 2.41% | 2.41% |
Source: Ownwell
Property Tax Assessment Values Across East Randolph, Vermont
In East Randolph, 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 Orange 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 East Randolph, 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 East Randolph is $158,000, with tax bills ranging widely depending on property values and exemptions. For instance, the 25th percentile tax bill is $2,646, while the 75th percentile reaches $5,100, and the 90th percentile soars to $7,288. The highest and lowest median tax bills are both $3,765, found in zip code 05041. 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 East Randolph Assessed Value
$158,000
Average Orange County Assessed Value
$178,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Randolph, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05041 | $80,900 | $122,700 | $158,000 | $259,800 | $331,000 |
Source: Ownwell
Property Tax Bills Across East Randolph, Vermont
Property tax bills in East Randolph, located in Orange County, VT, are determined based on the assessed value of a property and the local tax rate. The assessed value is an estimate of the property's market value as determined by the local assessor's office. This value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in East Randolph, the median home price stands at $158,000. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is $2,646, while the 75th percentile reaches $5,100. At the 90th percentile, homeowners may see tax bills as high as $7,288. Comparatively, the national median property tax rate is 0.99%, which can highlight how East Randolph's rates might affect local homeowners differently. The highest and lowest median tax bills in the region both stand at $3,765, specifically in the 05041 zip code. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average East Randolph Tax Bill
$3,765
Average Orange County Tax Bill
$3,722
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across East Randolph, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05041 | $1,634 | $2,646 | $3,765 | $5,100 | $7,288 |
Source: Ownwell