West Wardsboro, Vermont Property Taxes
The median property tax rate in West Wardsboro, VT is 1.70%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in West Wardsboro, the typical annual property tax bill reaches $5,547, exceeding the national median of $2,690. Property taxes in West Wardsboro 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 West Wardsboro'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 West Wardsboro 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
West Wardsboro, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$3,734
Ownwell’s West Wardsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Wardsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Wardsboro 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 West Wardsboro, Vermont
Property taxes in West Wardsboro, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Wardsboro is 1.70%, significantly higher than the U.S. national median of 0.99%. Local government entities within West Wardsboro set these rates annually, and they can vary across different neighborhoods. Each year, West Wardsboro 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 West Wardsboro's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05360 has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these figures compare with West Wardsboro 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 West Wardsboro Tax Rate
1.70%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Wardsboro, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05360 | 1.66% | 1.70% | 1.70% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across West Wardsboro, Vermont
In West Wardsboro, 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. In West Wardsboro, 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 West Wardsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Windham County are both $5,547, specifically in the 05360 zip code, highlighting the consistency in tax assessments within the area.
Property Tax Assessment Values Across West Wardsboro, Vermont
Source: Ownwell
$126,350
$222,725
$319,100
Average West Wardsboro Assessed Value
$219,660
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 West Wardsboro, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05360 | $105,080 | $143,892 | $219,660 | $331,700 | $464,620 |
Source: Ownwell
Property Tax Bills Across West Wardsboro, Vermont
In West Wardsboro, located in Windham County, VT, property tax bills are determined by assessing the market value of a property and applying the local tax rate. This process involves multiple factors, including the property's assessed value, which is periodically updated to reflect current market conditions, and the local tax rate set by municipal authorities. Homeowners in West Wardsboro can expect a wide range of tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill stands at $3,290, while the 75th percentile reaches $6,678. Those with properties in the higher value range may see tax bills soar to the 90th percentile, which is $14,454. Comparatively, the national median property tax rate is 0.99%, making West Wardsboro's rates relatively high. These tax bills significantly impact homeowners, influencing their annual financial planning and the overall affordability of owning property in the area. Understanding these factors can help residents better anticipate their financial obligations and plan accordingly.
Average West Wardsboro Tax Bill
$5,547
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across West Wardsboro, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05360 | $2,080 | $3,290 | $5,547 | $6,678 | $14,454 |
Source: Ownwell