Jacksonville, Vermont Property Taxes
The median property tax rate in Jacksonville, VT is 2.64%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Jacksonville at $186,600, the typical annual property tax bill reaches $5,494, exceeding the national median of $2,690. Property taxes in Jacksonville 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 Jacksonville'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 Jacksonville 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
Jacksonville, Vermont Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$4,220
Ownwell’s Jacksonville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Jacksonville. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Jacksonville to provide an accurate estimate of your property tax bill. This valuable resource helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by the county, taking into account any applicable exemptions to ensure an accurate calculation for property tax purposes.
Property Tax Rates Across Jacksonville, Vermont
Property taxes in Jacksonville, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jacksonville is 2.64%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Jacksonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jacksonville 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 Jacksonville's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05342 zip code has both the highest and lowest median property tax rate of 2.64%. Understanding how these areas compare with Jacksonville provides valuable insights into the varying tax landscape across Windham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jacksonville Tax Rate
2.64%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jacksonville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05342 | 2.64% | 2.64% | 2.64% | 2.64% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Jacksonville, Vermont
In Jacksonville, 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 Windham 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 Jacksonville, 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 Jacksonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Jacksonville is $5,494 in zip code 05342, while the lowest median tax bill is also $5,494 in the same zip code.
Average Jacksonville Assessed Value
$186,600
Average Windham County Assessed Value
$195,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jacksonville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05342 | $93,200 | $139,600 | $186,600 | $255,950 | $383,800 |
Source: Ownwell
Property Tax Bills Across Jacksonville, Vermont
In Jacksonville, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of your property. This value is then multiplied by the local tax rate to determine your annual property tax bill. For example, with a median home price of $186,600 in Jacksonville, homeowners can expect a tax bill that varies significantly depending on their property's assessed value and the specific tax rate applied. The tax bill can range widely; the 25th percentile tax bill is around $4,285, while the 75th percentile tax bill is approximately $6,577. At the higher end, the 90th percentile tax bill climbs to about $10,057. These figures illustrate how property taxes can impact homeowners differently based on their property values. For comparison, the national median property tax rate is 0.99%, so understanding how local rates and assessed values work is crucial for homeowners in managing their annual expenses.
Average Jacksonville Tax Bill
$5,494
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Jacksonville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05342 | $2,600 | $4,285 | $5,494 | $6,577 | $10,057 |
Source: Ownwell