Berlin, Vermont Property Taxes
The median property tax rate in Berlin, VT is 2.08%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Berlin at $254,550, the typical annual property tax bill reaches $5,175, exceeding the national median of $2,690. Property taxes in Berlin 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 Berlin'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 Berlin 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
Berlin, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$5,295
Ownwell’s Berlin Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Berlin with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Berlin to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed financial decisions. If you're interested in observing trends at a neighborhood level, scroll down to discover more localized information. Your property’s assessed value is the amount determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Berlin, Vermont
Property taxes in Berlin, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berlin is 2.08%, significantly higher than the U.S. national median of 0.99%. Local government entities within Berlin set these rates annually, and they can vary across different neighborhoods. Each year, Berlin 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 Berlin's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05602 zip code has the highest median property tax rate of 2.08%, while the same zip code also has the lowest median tax rate of 2.08%. Understanding how these figures compare with Berlin provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berlin Tax Rate
2.08%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berlin, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05602 | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Berlin, Vermont
In Berlin, 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 Washington County 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 Berlin, 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 Berlin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 05602, with a median tax bill of $5,175.
Average Berlin Assessed Value
$254,550
Average Washington County Assessed Value
$205,330
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berlin, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05602 | $92,750 | $192,325 | $254,550 | $329,325 | $421,600 |
Source: Ownwell
Property Tax Bills Across Berlin, Vermont
In Berlin, Washington County, VT, property tax bills are primarily determined based on the assessed value of a home. This valuation is conducted by local assessors who estimate the market value of properties. The property tax rate, which is applied to this assessed value, is set by local government authorities and is influenced by budgetary needs for public services such as schools, infrastructure, and emergency services. For homeowners in Berlin, the median home price stands at $254,550. Property tax bills can vary significantly, with the 25th percentile tax bill at $3,853 and the 75th percentile reaching up to $6,829. The 90th percentile tax bill can be as high as $8,663. These figures indicate that property taxes in Berlin are notably higher than the national median property tax rate of 0.99%. High property taxes can impact homeowners by increasing the overall cost of owning a home, potentially influencing decisions about buying or selling property in the area. Understanding these factors is crucial for homeowners as they plan their finances and consider long-term investments in their homes.
Average Berlin Tax Bill
$5,175
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Berlin, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05602 | $1,484 | $3,853 | $5,175 | $6,829 | $8,663 |
Source: Ownwell