Plymouth, Vermont Property Taxes
The median property tax rate in Plymouth, VT is 2.21%, significantly higher than both the national median of 0.99% and Vermont's state median of 2.11%. With a median home value of $197,400 in Plymouth, the typical annual property tax bill reaches $4,351, far exceeding the national median of $2,690. Property taxes in Plymouth are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence exemption. Understanding Plymouth'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 Plymouth 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
Plymouth, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.21%
Estimate Property Tax Bill
$4,363
Ownwell’s Plymouth Property Tax Bill Calculator offers a simple way for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Plymouth using just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Plymouth to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is determined by Windsor County for tax calculations, including any applicable exemptions.
Property Tax Rates Across Plymouth, Vermont
Property taxes in Plymouth, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plymouth is 2.21%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plymouth 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 these cities compare with Plymouth provides valuable insights into the varying tax landscape across Windsor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plymouth 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 Plymouth, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05056 | 2.17% | 2.21% | 2.21% | 2.21% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth, Vermont
In Plymouth, 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 Plymouth, 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 Plymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $4,351 in the zip code 05056, which is also the lowest median tax bill in the area.
Average Plymouth Assessed Value
$197,400
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 Plymouth, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05056 | $63,770 | $123,290 | $197,400 | $285,015 | $423,524 |
Source: Ownwell
Property Tax Bills Across Plymouth, Vermont
In Plymouth, Vermont, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the town's assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Plymouth, the median home price is $197,400. Property tax bills vary significantly, with the 25th percentile at $2,690 and the 75th percentile reaching $6,235. At the 90th percentile, tax bills can be as high as $9,050. Compared to the national median property tax rate of 0.99%, Plymouth homeowners often face higher property tax bills, reflecting the town's specific tax rate and property values. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Plymouth Tax Bill
$4,351
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Plymouth, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05056 | $1,379 | $2,690 | $4,351 | $6,235 | $9,050 |
Source: Ownwell