Pittsfield, Vermont Property Taxes
The median property tax rate in Pittsfield, VT is 1.27%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Pittsfield at $258,450, the typical annual property tax bill reaches $4,086, exceeding the national median of $2,690. Property taxes in Pittsfield 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 Pittsfield'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 Pittsfield 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
Pittsfield, 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 Pittsfield Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Pittsfield with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Pittsfield to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For more detailed insights at the neighborhood level, scroll down to explore localized information. Your property’s assessed value is determined by the county for tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Pittsfield, Vermont
Property taxes in Pittsfield, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pittsfield is 1.27%, significantly higher than the U.S. national median of 0.99%. Local government entities within Pittsfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pittsfield 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 Pittsfield's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05762 zip code has the highest median property tax rate of 1.27%, while the same 05762 zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Pittsfield provides valuable insights into the varying tax landscape across Windsor, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pittsfield Tax Rate
1.27%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pittsfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05762 | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Pittsfield, Vermont
In Pittsfield, 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 local appraisal authorities 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 Pittsfield, 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 Pittsfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Pittsfield are both $4,086, found in zip code 05762.
Average Pittsfield Assessed Value
$258,450
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 Pittsfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05762 | $201,010 | $215,750 | $258,450 | $344,175 | $529,470 |
Source: Ownwell
Property Tax Bills Across Pittsfield, Vermont
In Pittsfield, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Pittsfield, the median home price is $258,450, and the property tax rate is notably higher than the national median of 0.99%. Consequently, the median property tax bill in Pittsfield stands at $4,086, reflecting the significant impact of local taxation policies. Factors such as property size, location, and market conditions influence the assessed value. Homeowners in Pittsfield should be aware that their property tax bill can affect their overall housing costs substantially, making it essential to understand how these taxes are calculated. In Windsor County, where Pittsfield is located, both the highest and lowest median tax bills are the same, indicating a uniform tax rate application across the region. This consistency can help homeowners better predict and manage their annual property expenses.
Average Pittsfield Tax Bill
$4,086
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Pittsfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05762 | $4,086 | $4,086 | $4,086 | $4,086 | $4,086 |
Source: Ownwell