Tinmouth, Vermont Property Taxes
The median property tax rate in Tinmouth, VT is 2.39%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Tinmouth at $207,000, the typical annual property tax bill reaches $4,420, exceeding the national median of $2,690. Property taxes in Tinmouth 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 Tinmouth'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 Tinmouth 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
Tinmouth, 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 Tinmouth Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tinmouth. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Tinmouth to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities, offering peace of mind and financial clarity. For those interested in more detailed, localized trends, additional neighborhood-specific information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Tinmouth, Vermont
Property taxes in Tinmouth, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tinmouth is 1.82%, significantly higher than both the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within Tinmouth set these rates annually, and they can vary across different neighborhoods. Each year, Tinmouth 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 Tinmouth's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05773 zip code has the highest median property tax rate of 1.82%, while the same 05773 zip code also has the lowest median tax rate of 1.82%. Understanding how these cities compare with Tinmouth 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 Tinmouth Tax Rate
2.39%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tinmouth, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05773 | 2.38% | 2.39% | 2.39% | 2.39% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Tinmouth, Vermont
In Tinmouth, 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 Tinmouth, 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 Tinmouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rutland County is $4,420 in the 05773 zip code, which is also the lowest.
Average Tinmouth Assessed Value
$207,000
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 Tinmouth, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05773 | $90,960 | $146,300 | $207,000 | $296,850 | $378,780 |
Source: Ownwell
Property Tax Bills Across Tinmouth, Vermont
In Tinmouth, Vermont, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Tinmouth is $207,000, and property tax bills can vary significantly. Homeowners in the 25th percentile might see a tax bill around $3,324, while those in the 75th percentile could be paying up to $7,012. At the 90th percentile, tax bills can reach $9,065. These tax bills are influenced by various factors including property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Tinmouth's tax rates can significantly impact homeowners, especially given the higher tax bills seen in the area. Understanding these factors is crucial for homeowners when budgeting for annual expenses.
Average Tinmouth Tax Bill
$4,420
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Tinmouth, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05773 | $1,937 | $3,324 | $4,420 | $7,012 | $9,065 |
Source: Ownwell