Mount Holly, Vermont Property Taxes
The median property tax rate in Mount Holly, VT is 2.21%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Mount Holly, the typical annual property tax bill reaches $5,278, exceeding the national median of $2,690. Property taxes in Mount Holly 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 Mount Holly'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 Mount Holly 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
Mount Holly, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.21%
Estimate Property Tax Bill
$5,278
Ownwell’s Mount Holly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Holly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Holly 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 Mount Holly, Vermont
Property taxes in Mount Holly, Vermont, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Mount Holly is 2.21%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Mount Holly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Holly 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. Understanding how Mount Holly's effective property tax rate compares to other areas within Windsor County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Mount Holly Tax Rate
2.21%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Holly, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05758 | 2.21% | 2.21% | 2.21% | 2.21% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Mount Holly, Vermont
In Mount Holly, 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 Windsor 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. 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 Mount Holly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mount Holly is $238,830, with the highest and lowest median tax bills both recorded at $5,278 in the 05758 zip code.
Average Mount Holly Assessed Value
$238,830
Average Windsor County Assessed Value
$205,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Holly, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05758 | $238,830 | $238,830 | $238,830 | $238,830 | $238,830 |
Source: Ownwell
Property Tax Bills Across Mount Holly, Vermont
In Mount Holly, Windsor County, VT, 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 and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Mount Holly face a median property tax bill of $5,278, which is significantly higher than the national median property tax rate of 0.99%. This high tax burden can impact homeowners by increasing their annual housing costs, potentially affecting affordability and long-term financial planning. Understanding how property taxes are calculated and the factors that influence them is crucial for homeowners in Mount Holly to manage their finances effectively and anticipate their annual expenses.
Average Mount Holly Tax Bill
$5,278
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Holly, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05758 | $5,278 | $5,278 | $5,278 | $5,278 | $5,278 |
Source: Ownwell