Waterbury Ctr, Vermont Property Taxes
The median property tax rate in Waterbury Ctr, VT is 2.28%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Waterbury Ctr at $350,100, the typical annual property tax bill reaches $8,099, far exceeding the national median of $2,690. Property taxes in Waterbury Ctr 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 Waterbury Ctr'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 Waterbury Ctr 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
Waterbury Ctr, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.28%
Estimate Property Tax Bill
$7,982
Ownwell’s Waterbury Ctr Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterbury Ctr with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterbury Ctr 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 Waterbury Ctr, Vermont
Property taxes in Waterbury Ctr, VT, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterbury Ctr is 2.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Waterbury Ctr set these rates annually, and they can vary across different neighborhoods. Each year, Waterbury Ctr 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 Waterbury Ctr's effective property tax rate to other areas in Washington County and the national median. For comparison, the zip code 05677 has the highest median property tax rate of 2.28%, while the same zip code also has the lowest median tax rate of 2.28%. Understanding how these rates compare with Waterbury Ctr 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 Waterbury Ctr Tax Rate
2.28%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterbury Ctr, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05677 | 2.28% | 2.28% | 2.28% | 2.28% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Waterbury Ctr, Vermont
In Waterbury Ctr, 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 local 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. Assessment notices in Waterbury Ctr 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 Waterbury Ctr helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 05677 has both the highest and lowest median tax bills, both amounting to $8099.
Average Waterbury Ctr Assessed Value
$350,100
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 Waterbury Ctr, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05677 | $124,570 | $266,275 | $350,100 | $368,175 | $391,530 |
Source: Ownwell
Property Tax Bills Across Waterbury Ctr, Vermont
In Waterbury Center, VT, property tax bills are calculated based on the assessed value of the property. The local tax assessor determines this value, which is intended to reflect the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the tax bill. In Washington County, the median home price is $350,100. Homeowners in Waterbury Center can expect a property tax bill around $8,099, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's location, size, and any improvements or renovations made. High property tax rates can have a substantial impact on homeowners, affecting their overall cost of living and potentially influencing their decisions about buying or selling property. In Waterbury Center, the consistently high tax bills underscore the importance of understanding local tax policies and advocating for fair property assessments.
Average Waterbury Ctr Tax Bill
$8,099
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterbury Ctr, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05677 | $8,099 | $8,099 | $8,099 | $8,099 | $8,099 |
Source: Ownwell