Graniteville, Vermont Property Taxes
The median property tax rate in Graniteville, VT is 2.18%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Graniteville at $178,060, the typical annual property tax bill reaches $3,880, exceeding the national median of $2,690. Property taxes in Graniteville 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 Graniteville'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 Graniteville 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
Graniteville, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.18%
Estimate Property Tax Bill
$3,882
Ownwell’s Graniteville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Graniteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graniteville 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 Graniteville, Vermont
Property taxes in Graniteville, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graniteville is 2.18%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Graniteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graniteville 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 Graniteville's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05654 zip code has the highest median property tax rate of 2.18%, while the same zip code also has the lowest median tax rate of 2.18%. Understanding how these cities compare with Graniteville 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 Graniteville Tax Rate
2.18%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graniteville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05654 | 2.18% | 2.18% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Graniteville, Vermont
In Graniteville, 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 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 Graniteville, 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 Graniteville 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 05654, with a median tax bill of $3,880.
Average Graniteville Assessed Value
$178,060
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 Graniteville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05654 | $113,170 | $142,160 | $178,060 | $224,915 | $277,257 |
Source: Ownwell
Property Tax Bills Across Graniteville, Vermont
In Graniteville, Washington County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. 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 property tax bill. For instance, with a median home price of $178,060, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Factors such as property size, location, and improvements significantly influence the assessed value. Tax bills in Graniteville show considerable variation, with the 25th percentile at $3,098 and the 75th percentile at $4,901. The 90th percentile reaches up to $6,042, reflecting the disparities in property values and corresponding tax rates within the area. These property taxes play a crucial role in funding local services, including schools, infrastructure, and emergency services, directly impacting homeowners by contributing to community development and maintenance.
Average Graniteville Tax Bill
$3,880
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Graniteville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05654 | $2,466 | $3,098 | $3,880 | $4,901 | $6,042 |
Source: Ownwell