South Woodstock, Vermont Property Taxes
The median property tax rate in South Woodstock, VT is 2.47%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in South Woodstock at $393,700, the typical annual property tax bill reaches $9,962, far exceeding the national median of $2,690. Property taxes in South Woodstock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding South 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 South Woodstock 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
South Woodstock, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.47%
Estimate Property Tax Bill
$9,724
Ownwell’s South Woodstock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Woodstock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South 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 South Woodstock, Vermont
Property taxes in South Woodstock, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South 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 South Woodstock set these rates annually, and they can vary significantly across different neighborhoods. Each year, South 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 South Woodstock's effective property tax rate to other counties in Vermont and the national median. For comparison, the ZIP code 05071 has the highest median property tax rate of 2.47%, while the same ZIP code also has the lowest median tax rate of 2.47%. Understanding how these cities compare with South 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 South 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 South Woodstock, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05071 | 2.47% | 2.47% | 2.47% | 2.47% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across South Woodstock, Vermont
In South 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 South 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 South 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 $9,962, found in the 05071 zip code.
Property Tax Assessment Values Across South Woodstock, Vermont
Source: Ownwell
$52,800
$511,925
$971,050
Average South Woodstock Assessed Value
$393,700
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 South Woodstock, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05071 | $210,540 | $281,575 | $393,700 | $661,325 | $1,070,200 |
Source: Ownwell
Property Tax Bills Across South Woodstock, Vermont
In South Woodstock, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. 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 South Woodstock experience a range of tax bills. For instance, the 25th percentile tax bill is around $7,042, while the 75th percentile reaches up to $16,690, and the 90th percentile can be as high as $26,830. The median home price in South Woodstock stands at $393,700, which significantly impacts the tax bills. Compared to the national median property tax rate of 0.99%, Windsor County's tax rate makes a notable difference in the financial obligations of homeowners. This variation in tax bills can affect homeowners' decisions regarding property investments and long-term residency. Understanding these factors is crucial for homeowners to effectively manage their financial planning and property investments.
Average South Woodstock Tax Bill
$9,962
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across South Woodstock, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05071 | $5,416 | $7,042 | $9,962 | $16,690 | $26,830 |
Source: Ownwell