Rockingham, Vermont Property Taxes
The median property tax rate in Rockingham, VT is 2.73%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Rockingham at $140,300, the typical annual property tax bill reaches $3,508, exceeding the national median of $2,690. Property taxes in Rockingham 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 Rockingham'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 Rockingham 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
Rockingham, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$3,830
Ownwell’s Rockingham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockingham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockingham 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 Rockingham, Vermont
Property taxes in Rockingham, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockingham is 2.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Rockingham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockingham 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 Rockingham's effective property tax rate to other areas in Vermont and the national median. For comparison, the 05101 zip code has the highest median property tax rate of 2.73%, while also having the lowest median tax rate of 2.73%. Understanding how these cities compare with Rockingham 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 Rockingham Tax Rate
2.73%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockingham, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05101 | 2.65% | 2.73% | 2.73% | 2.73% | 2.81% |
Source: Ownwell
Property Tax Assessment Values Across Rockingham, Vermont
In Rockingham, 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 Rockingham, 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 Rockingham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Rockingham, the median home price is $140,300, with tax bills ranging from $2,942 at the 25th percentile to $7,515 at the 90th percentile. The zip code 05101 has both the highest and lowest median tax bill at $3,508.
Average Rockingham Assessed Value
$140,300
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 Rockingham, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05101 | $43,740 | $105,800 | $140,300 | $177,700 | $275,080 |
Source: Ownwell
Property Tax Bills Across Rockingham, Vermont
In Rockingham, VT, located in Windham County, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessor, who evaluates the property's market value. The tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Rockingham experience varying tax bills. The median home price is $140,300, and tax bills can range significantly. For instance, the 25th percentile tax bill is $2,942, while the 75th percentile reaches $4,918, and the 90th percentile can be as high as $7,515. The highest median tax bill in the area is $3,508, which is notably higher than the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to the funding of local services such as schools, infrastructure, and public safety, making it essential for property owners to understand how their tax bills are determined.
Average Rockingham Tax Bill
$3,508
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockingham, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05101 | $1,195 | $2,942 | $3,508 | $4,918 | $7,515 |
Source: Ownwell