Woodstock, Vermont Property Taxes
The median property tax rate in 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 Woodstock at $355,600, the typical annual property tax bill reaches $8,667, far surpassing the national median of $2,690. Property taxes in 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 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 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
Woodstock, 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 Woodstock Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Woodstock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in 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 Woodstock, Vermont
Property taxes in Woodstock, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodstock is 1.63%, higher than both the Vermont state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Woodstock set these rates annually, and they can vary significantly across different neighborhoods. Each year, 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 Woodstock's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05091 zip code has the highest median property tax rate of 1.63%, while the lowest median tax rate is also 1.63%. Understanding how these cities compare with Woodstock 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 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 Woodstock, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05091 | 2.19% | 2.47% | 2.47% | 2.60% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Woodstock, Vermont
In 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 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 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 Woodstock are both $8,667 in the 05091 zip code.
Average Woodstock Assessed Value
$355,600
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 Woodstock, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05091 | $156,520 | $240,200 | $355,600 | $550,798 | $884,640 |
Source: Ownwell
Property Tax Bills Across Woodstock, Vermont
In Woodstock, Windsor County, VT, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the town’s assessor, who evaluates your property to estimate its market value. This value is then multiplied by the local tax rate to determine your annual property tax bill. Several factors influence the assessed value, including the size and condition of your home, its location, and recent sales of comparable properties in the area. For instance, with a median home price of $355,600, residents in Woodstock see a wide range in their property tax bills. Homeowners in the 25th percentile can expect a tax bill around $5,761, while those in the 75th percentile might pay up to $13,263. Some of the highest tax bills, reaching the 90th percentile, can be as much as $20,777. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in Woodstock.
Average Woodstock Tax Bill
$8,667
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodstock, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05091 | $3,407 | $5,761 | $8,667 | $13,263 | $20,777 |
Source: Ownwell