Pittsford, Vermont Property Taxes
The median property tax rate in Pittsford, VT is 2.27%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Pittsford, the typical annual property tax bill reaches $3,516, surpassing the national median of $2,690. Property taxes in Pittsford 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 Pittsford'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 Pittsford 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
Pittsford, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.27%
Estimate Property Tax Bill
$3,512
Ownwell’s Pittsford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pittsford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pittsford 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 Pittsford, Vermont
Property taxes in Pittsford, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pittsford is 2.27%, significantly higher than both the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within Pittsford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pittsford 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 Pittsford's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05733 zip code has the highest median property tax rate of 2.27%, while the 05763 zip code has the lowest median tax rate of 2.27%. Understanding how these cities compare with Pittsford 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 Pittsford Tax Rate
2.27%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pittsford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | 2.27% | 2.27% | 2.27% | 2.27% | 2.27% |
| 05763 | 2.27% | 2.27% | 2.27% | 2.27% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Pittsford, Vermont
In Pittsford, 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 Pittsford, 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 Pittsford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Pittsford is $3,526 in the 05763 zip code, while the lowest median tax bill is $3,494 in the 05733 zip code.
Average Pittsford Assessed Value
$154,700
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 Pittsford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | $153,700 | $153,700 | $153,700 | $153,700 | $153,700 |
| 05763 | $74,660 | $110,550 | $155,150 | $219,475 | $298,410 |
Source: Ownwell
Property Tax Bills Across Pittsford, Vermont
In Pittsford, VT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and reflects the market value of the property. Homeowners can expect their tax bills to vary significantly, with the 25th percentile paying around $2,520 and the 75th percentile paying up to $4,980 annually. At the higher end, the 90th percentile sees tax bills reaching $6,760. These figures highlight the range of property taxes that homeowners might face, influenced by factors such as property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Pittsford's rates can significantly impact household budgets. The highest median tax bill in the area is $3,526 in the 05763 zip code, while the lowest median tax bill is $3,494 in the 05733 zip code. Understanding these factors is crucial for homeowners, as property taxes represent a substantial and recurring expense that can influence long-term financial planning and property value appreciation.
Average Pittsford Tax Bill
$3,516
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Pittsford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | $3,494 | $3,494 | $3,494 | $3,494 | $3,494 |
| 05763 | $1,696 | $2,518 | $3,526 | $4,981 | $6,760 |
Source: Ownwell