Westminster West, Vermont Property Taxes
The median property tax rate in Westminster West, VT, is 0.73%, which is lower than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Westminster West at $269,800, the typical annual property tax bill amounts to $1,788, falling below the national median of $2,690. Property taxes in Westminster West are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Westminster West'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 Westminster West or another part of Windham County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westminster West, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,970
Ownwell’s Westminster West Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Westminster West. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate specific to Westminster West to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities and make informed financial decisions. For those interested in detailed neighborhood trends, more localized information is available below. Your property’s assessed value is determined by Windham County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Westminster West, Vermont
Property taxes in Westminster West, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westminster West is 0.73%, which is lower than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Westminster West set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westminster West 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 Westminster West's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05346 zip code has the highest median property tax rate of 0.73%, while the 05346 zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Westminster West 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 Westminster West Tax Rate
0.73%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westminster West, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05346 | 0.68% | 0.69% | 0.73% | 0.91% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Westminster West, Vermont
In Westminster West, 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 Westminster West, 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. The median home price in Westminster West is $269,800, with tax bills ranging from $1,744 at the 25th percentile to $3,822 at the 90th percentile. The zip code with both the highest and lowest median tax bills is 05346, with a median tax bill of $1,788. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Westminster West, Vermont
Source: Ownwell
$126,350
$222,725
$319,100
Average Westminster West Assessed Value
$269,800
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 Westminster West, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05346 | $177,720 | $212,250 | $269,800 | $433,100 | $531,080 |
Source: Ownwell
Property Tax Bills Across Westminster West, Vermont
In Westminster West, located in Windham County, VT, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town’s assessor and is meant to reflect the market value of the property. Homeowners in Westminster West can expect their property tax bill to vary significantly depending on the value of their home and how it compares to others in the area. The median home price in Westminster West is $269,800, and property tax bills can range widely. For instance, the 25th percentile tax bill is $1,744, while the 75th percentile tax bill is $3,060, and the 90th percentile tax bill reaches up to $3,822. These property taxes fund essential local services such as schools, public safety, and infrastructure maintenance, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, the tax burden in Westminster West can be considered relatively high, reflecting the value placed on maintaining robust local services.
Average Westminster West Tax Bill
$1,788
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Westminster West, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05346 | $1,718 | $1,744 | $1,788 | $3,060 | $3,822 |
Source: Ownwell