Washington, Vermont Property Taxes
The median property tax rate in Washington, VT is 2.33%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Washington at $161,600, the typical annual property tax bill reaches $3,712, exceeding the national median of $2,690. Property taxes in Washington 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 Washington'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 Washington 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
Washington, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.33%
Estimate Property Tax Bill
$3,765
Ownwell’s Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington 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 Washington, Vermont
Property taxes in Washington, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington is 2.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05675 has the highest median property tax rate of 2.33%, while the same zip code also has the lowest median tax rate of 2.33%. Understanding how these cities compare with Washington 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 Washington Tax Rate
2.33%
Average Orange County Tax Rate
2.24%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05675 | 2.33% | 2.33% | 2.33% | 2.33% | 2.33% |
Source: Ownwell
Property Tax Assessment Values Across Washington, Vermont
In Washington, 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 Washington, 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. The median home price in Washington is $161,600, with tax bills ranging from $2,396 at the 25th percentile to $8,033 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 05675, with a median tax bill of $3,712. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Washington Assessed Value
$161,600
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 Washington, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05675 | $48,800 | $105,400 | $161,600 | $242,500 | $339,500 |
Source: Ownwell
Property Tax Bills Across Washington, Vermont
In Washington, located in Orange County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area stands at $161,600. Property taxes are determined by multiplying the assessed value by the local tax rate, which is influenced by municipal budgets, school funding, and other county services. For homeowners in Washington, the tax bill can vary significantly. The 25th percentile tax bill is around $2,396, while the 75th percentile tax bill reaches approximately $5,439. At the 90th percentile, tax bills can soar to $8,033, indicating a wide range in property tax obligations. The highest and lowest median tax bills in the area are both $3,712, which aligns with the zip code 05675. Compared to the national median property tax rate of 0.99%, homeowners in Washington, VT, may experience varying impacts on their finances, depending on their property's assessed value and the local tax rate. This system ensures that property taxes are proportional to the value of the real estate, affecting homeowners differently based on their specific circumstances.
Average Washington Tax Bill
$3,712
Average Orange County Tax Bill
$3,722
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05675 | $1,084 | $2,396 | $3,712 | $5,439 | $8,033 |
Source: Ownwell