East Montpelier, Vermont Property Taxes
The median property tax rate in East Montpelier, VT is 1.19%, which is notably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With a median home value of $233,300 in East Montpelier, the typical annual property tax bill reaches $3,241, surpassing the national median of $2,690. Property taxes here are determined based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating East Montpelier's property tax system, exploring exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of East Montpelier 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 Montpelier, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$2,776
Ownwell’s East Montpelier Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Montpelier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Montpelier 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 Montpelier, Vermont
Property taxes in East Montpelier, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Montpelier is 1.19%, which is higher than the U.S. national median of 0.99%. Local government entities within East Montpelier set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Montpelier 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. Understanding how these cities compare with East Montpelier 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 East Montpelier Tax Rate
1.19%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Montpelier, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05651 | 0.35% | 0.96% | 1.19% | 2.37% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across East Montpelier, Vermont
In East Montpelier, 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 Washington County appraisers 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 Montpelier, 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 East Montpelier helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,241 in the 05651 zip code, while the lowest median tax bill is also $3,241 in the same zip code.
Property Tax Assessment Values Across East Montpelier, Vermont
Source: Ownwell
$129,700
$525,850
$922,000
Average East Montpelier Assessed Value
$233,300
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 East Montpelier, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05651 | $72,680 | $147,650 | $233,300 | $327,100 | $415,590 |
Source: Ownwell
Property Tax Bills Across East Montpelier, Vermont
In East Montpelier, located in Washington County, VT, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and market conditions play a significant role in the assessment process. For homeowners, this means that changes in the real estate market or property improvements can directly impact their tax bills. In East Montpelier, the median home price is $233,300, with property tax bills ranging significantly. The 25th percentile tax bill is $1,494, while the 75th percentile reaches $5,098, and the 90th percentile climbs to $7,847. Comparatively, the national median property tax rate is 0.99%, highlighting the variability in property taxes within this region. Homeowners in East Montpelier should be aware of these factors to better understand their property tax obligations.
Average East Montpelier Tax Bill
$3,241
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across East Montpelier, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05651 | $227 | $1,494 | $3,241 | $5,098 | $7,847 |
Source: Ownwell