South Strafford, Vermont Property Taxes
The median property tax rate in South Strafford, VT is 2.23%, significantly higher than both the national median of 0.99% and Vermont's state median of 2.11%. With the median home value in South Strafford at $273,300, the typical annual property tax bill reaches $6,094, far exceeding the national median of $2,690. Property taxes in South Strafford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding South Strafford'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 South Strafford or another part of Orange County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Strafford, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.23%
Estimate Property Tax Bill
$6,095
Ownwell’s South Strafford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Strafford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Strafford 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 South Strafford, Vermont
Property taxes in South Strafford, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Strafford is 2.23%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within South Strafford set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Strafford 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 South Strafford's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05070 zip code has both the highest and lowest median property tax rate of 2.23%. Understanding how these cities compare with South Strafford 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 South Strafford Tax Rate
2.23%
Average Orange County Tax Rate
2.24%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Strafford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05070 | 2.23% | 2.23% | 2.23% | 2.23% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across South Strafford, Vermont
In South Strafford, 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 in South Strafford 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 South Strafford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In South Strafford, the median home price is $273,300. The median tax bill ranges from $4,541 at the 25th percentile to $11,415 at the 90th percentile. The zip code with the highest and lowest median tax bill is 05070, with a median tax bill of $6,094.
Property Tax Assessment Values Across South Strafford, Vermont
Source: Ownwell
$109,700
$325,650
$541,600
Average South Strafford Assessed Value
$273,300
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 South Strafford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05070 | $164,650 | $203,650 | $273,300 | $364,125 | $511,850 |
Source: Ownwell
Property Tax Bills Across South Strafford, Vermont
In South Strafford, located in Orange County, VT, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in this area is $273,300. Tax assessors determine the market value of properties, which is then used to calculate the assessed value. This assessed value is multiplied by the local tax rate to determine your annual property tax bill. Factors such as property size, home improvements, and neighborhood amenities can influence the assessed value. For homeowners in South Strafford, the property tax bill can vary significantly. At the 25th percentile, the tax bill is approximately $4,541, while at the 75th percentile, it reaches around $8,120. The highest median tax bill in the area is $6,094, which is notably higher than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average South Strafford Tax Bill
$6,094
Average Orange County Tax Bill
$3,722
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across South Strafford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05070 | $3,672 | $4,541 | $6,094 | $8,120 | $11,415 |
Source: Ownwell