S Woodstock, Vermont Property Taxes
The median property tax rate in S Woodstock, VT is 2.47%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in S Woodstock, the typical annual property tax bill reaches $23,970, significantly exceeding the national median of $2,690. Property taxes in S Woodstock are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding S Woodstock'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 S Woodstock or another part of Windsor County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
S Woodstock, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.47%
Estimate Property Tax Bill
$23,985
Ownwell’s S Woodstock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in S Woodstock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in S Woodstock 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 S Woodstock, Vermont
Property taxes in S Woodstock, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in S Woodstock is 2.47%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within S Woodstock set these rates annually, and they can vary significantly across different neighborhoods. Each year, S Woodstock 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 S Woodstock's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05071 zip code has the highest median property tax rate of 2.47%, while it also has the lowest median tax rate of 2.47%. Understanding how these cities compare with S Woodstock 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 S Woodstock Tax Rate
2.47%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across S Woodstock, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05071 | 2.47% | 2.47% | 2.47% | 2.47% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across S Woodstock, Vermont
In S Woodstock, 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. In S Woodstock, 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 S Woodstock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $23,970, found in zip code 05071.
Average S Woodstock Assessed Value
$971,050
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 S Woodstock, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05071 | $497,570 | $675,125 | $971,050 | $1,266,975 | $1,444,530 |
Source: Ownwell
Property Tax Bills Across S Woodstock, Vermont
In S Woodstock, Windsor County, VT, property tax bills are calculated based on the assessed value of the home and the local tax rate. Homeowners in this area face a median home price of $971,050. Property taxes here are notably higher than the national median property tax rate of 0.99%. For example, tax bills in the 25th percentile are around $16,665, while those in the 75th percentile reach approximately $31,274. The top 10% of tax bills can climb to $35,657. These figures reflect how property taxes can vary significantly depending on the assessed value of the property. Higher-valued homes result in higher tax bills, impacting homeowners' annual budgets. This substantial financial commitment can influence decisions on homeownership, investment, and even relocation. Understanding these factors is crucial for homeowners to plan and manage their finances effectively.
Average S Woodstock Tax Bill
$23,970
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across S Woodstock, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05071 | $12,282 | $16,665 | $23,970 | $31,274 | $35,657 |
Source: Ownwell