South Barre, Vermont Property Taxes
The median property tax rate in South Barre, 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 South Barre, the typical annual property tax bill reaches $3,814, exceeding the national median of $2,690. Property taxes in South Barre 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 South Barre'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 South Barre 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
South Barre, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.18%
Estimate Property Tax Bill
$3,816
Ownwell’s South Barre Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Barre with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Barre 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 South Barre, Vermont
Property taxes in South Barre, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Barre is 2.18%, significantly higher than the U.S. national median of 0.99%. Local government entities within South Barre set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Barre 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 South Barre's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05670 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 South Barre 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 South Barre 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 South Barre, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05670 | 2.18% | 2.18% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across South Barre, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in South Barre, Vermont. 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 South Barre, 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 South Barre helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,814, found in the 05670 zip code.
Average South Barre Assessed Value
$175,040
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 South Barre, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05670 | $143,872 | $151,820 | $175,040 | $254,740 | $290,958 |
Source: Ownwell
Property Tax Bills Across South Barre, Vermont
In South Barre, 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 the town’s assessor and reflects the market value of the property. Homeowners in South Barre can expect their tax bills to vary significantly depending on their property's assessed value and specific tax rate. For instance, the median home price in South Barre is $175,040. Homeowners here face a range of tax bills, with the 25th percentile paying around $3,308 annually, while those in the 75th percentile pay approximately $5,551. The highest tax bills, at the 90th percentile, can reach up to $6,340. Comparatively, the national median property tax rate is 0.99%, highlighting the impact of local tax rates and property values on the overall tax burden. These factors collectively influence how much homeowners in South Barre pay in property taxes, affecting their annual financial planning and long-term investment in their homes.
Average South Barre Tax Bill
$3,814
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across South Barre, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05670 | $3,135 | $3,308 | $3,814 | $5,551 | $6,340 |
Source: Ownwell