East Poultney, Vermont Property Taxes
The median property tax rate in East Poultney, VT is 1.43%, 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 Poultney, the typical annual property tax bill reaches $2,958, exceeding the national median of $2,690. Property taxes in East Poultney 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 East Poultney'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 Poultney 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 Poultney, 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 Poultney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Poultney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Poultney 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 Poultney, Vermont
Property taxes in East Poultney, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Poultney is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within East Poultney set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Poultney 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 Poultney's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05741 has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with East Poultney provides valuable insights into the varying tax landscape across Rutland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Poultney Tax Rate
1.43%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Poultney, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05741 | 0.70% | 0.97% | 1.43% | 1.89% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across East Poultney, Vermont
In East Poultney, 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 Rutland 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 Poultney, 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. For example, East Poultney has a median home price of $209,200, with tax bills ranging from $2,028 at the 25th percentile to $4,445 at the 90th percentile. The highest and lowest median tax bills are both $2,958 in the 05741 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across East Poultney, Vermont
Source: Ownwell
$78,800
$543,650
$1,008,500
Average East Poultney Assessed Value
$209,200
Average Rutland County Assessed Value
$162,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Poultney, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05741 | $206,400 | $207,450 | $209,200 | $210,950 | $212,000 |
Source: Ownwell
Property Tax Bills Across East Poultney, Vermont
In East Poultney, Rutland County, VT, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local tax assessors who evaluate your property's market value. For homeowners in East Poultney, the median home price is $209,200. The property tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including property location, home size, and market conditions. In East Poultney, the tax bill can vary significantly, with the 25th percentile at $2,028 and the 75th percentile at $3,887. At the 90th percentile, homeowners can expect to pay around $4,445. These figures illustrate the range of potential tax liabilities for homeowners in the area. Compared to the national median property tax rate of 0.99%, East Poultney's tax rates can significantly impact homeowners' annual expenses, making it essential for residents to understand how their tax bills are calculated and what factors contribute to the final amount.
Average East Poultney Tax Bill
$2,958
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across East Poultney, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05741 | $1,470 | $2,028 | $2,958 | $3,887 | $4,445 |
Source: Ownwell