Williamstown, Vermont Property Taxes
The median property tax rate in Williamstown, VT is 2.23%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Williamstown at $179,600, the typical annual property tax bill reaches $4,001, exceeding the national median of $2,690. Property taxes in Williamstown 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 Williamstown'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 Williamstown 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
Williamstown, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.23%
Estimate Property Tax Bill
$4,005
Ownwell’s Williamstown Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Williamstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamstown 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 Orange County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Williamstown, Vermont
Property taxes in Williamstown, Vermont, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamstown is 2.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Williamstown set these rates annually, and they can vary across different neighborhoods. Each year, Williamstown 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 Williamstown's effective property tax rate to other areas in Vermont and the national median. For comparison, the highest and lowest median property tax rates in Williamstown are both 2.23%, as reflected in the zip code 05679. Understanding how these figures compare with Williamstown 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 Williamstown 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 Williamstown, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05679 | 2.23% | 2.23% | 2.23% | 2.23% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Williamstown, Vermont
In Williamstown, 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. In Williamstown, 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 Williamstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Williamstown, the highest median tax bill is $4001 in zip code 05679, and the lowest median tax bill is also $4001 in the same zip code.
Average Williamstown Assessed Value
$179,600
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 Williamstown, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05679 | $65,300 | $127,725 | $179,600 | $235,300 | $303,160 |
Source: Ownwell
Property Tax Bills Across Williamstown, Vermont
In Williamstown, Orange 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 the town's assessor and reflects the market value of the property. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Williamstown can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $2,848, while at the 75th percentile, it rises to $5,243. The 90th percentile tax bill can be as high as $6,758. These property taxes fund local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Williamstown's rates can be considered relatively high, reflecting the region's commitment to maintaining robust local services.
Average Williamstown Tax Bill
$4,001
Average Orange County Tax Bill
$3,722
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamstown, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05679 | $1,456 | $2,848 | $4,001 | $5,243 | $6,758 |
Source: Ownwell