Plainfield, Vermont Property Taxes
The median property tax rate in Plainfield, VT is 2.04%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Plainfield, the typical annual property tax bill reaches $3,596, exceeding the national median of $2,690. Property taxes in Plainfield 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 Plainfield'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 Plainfield 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
Plainfield, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$4,089
Ownwell’s Plainfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plainfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plainfield 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 Plainfield, Vermont
Property taxes in Plainfield, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plainfield is 2.04%, significantly higher than the U.S. national median of 0.99%. Local government entities within Plainfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plainfield 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 Plainfield's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05667 has the highest median property tax rate of 2.04%, while the same zip code also has the lowest median tax rate of 2.04%. Understanding how these areas compare with Plainfield 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 Plainfield Tax Rate
2.04%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plainfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05667 | 0.94% | 1.67% | 2.04% | 2.28% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Plainfield, Vermont
In Plainfield, 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 Plainfield, 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 Plainfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 05667, with a median tax bill of $3,596.
Average Plainfield Assessed Value
$200,450
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 Plainfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05667 | $101,250 | $145,450 | $200,450 | $279,825 | $364,080 |
Source: Ownwell
Property Tax Bills Across Plainfield, Vermont
In Plainfield, located in Washington County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Plainfield is approximately $200,450. Homeowners in this area can expect their property tax bills to vary significantly, with the 25th percentile tax bill around $2,391 and the 75th percentile reaching up to $4,912. For those in the 90th percentile, property tax bills can be as high as $6,695. The highest and lowest median tax bills in the region are both $3,596, found in the zip code 05667. These property taxes are determined by multiplying the assessed value of the property by the local tax rate. Factors such as property improvements, location, and market conditions can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Plainfield experience a range of tax bills that reflect both the value of their homes and the specific tax rates applied in Washington County.
Average Plainfield Tax Bill
$3,596
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Plainfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05667 | $1,334 | $2,391 | $3,596 | $4,912 | $6,695 |
Source: Ownwell