Orwell, Vermont Property Taxes
The median property tax rate in Orwell, VT is 2.21%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Orwell, the typical annual property tax bill reaches $4,038, exceeding the national median of $2,690. Property taxes in Orwell 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 Orwell'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 Orwell 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
Orwell, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.21%
Estimate Property Tax Bill
$4,314
Ownwell’s Orwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orwell 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 Orwell, Vermont
Property taxes in Orwell, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orwell is 2.21%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Orwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orwell 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 Orwell's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05760 zip code has the highest median property tax rate of 2.21%, while the same zip code also has the lowest median tax rate of 2.21%. Understanding how these cities compare with Orwell provides valuable insights into the varying tax landscape across Addison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orwell Tax Rate
2.21%
Average Addison County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orwell, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05760 | 0.88% | 2.21% | 2.21% | 2.21% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Orwell, Vermont
In Orwell, 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 Addison 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 Orwell, 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 Orwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Orwell is $4,038 in zip code 05760, while the lowest median tax bill is also $4,038 in the same zip code.
Average Orwell Assessed Value
$195,200
Average Addison County Assessed Value
$233,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orwell, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05760 | $102,060 | $148,500 | $195,200 | $263,000 | $382,400 |
Source: Ownwell
Property Tax Bills Across Orwell, Vermont
In Orwell, located in Addison County, VT, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. Homeowners in Orwell experience a property tax rate that is influenced by various factors, including local government budgets, school funding requirements, and public services. The median home price in Orwell is $195,200, which provides a baseline for understanding typical property tax bills in the area. For instance, the 25th percentile tax bill in Orwell is $2,901, while the 75th percentile tax bill reaches up to $5,898, and the 90th percentile tax bill is $6,087. These figures indicate a range of property tax burdens that homeowners might face, depending on their property's assessed value and specific circumstances. Comparatively, the national median property tax rate is 0.99%, which highlights the significant variability in property tax obligations across different regions. Understanding these factors helps homeowners in Orwell anticipate their annual property tax responsibilities and plan accordingly.
Average Orwell Tax Bill
$4,038
Average Addison County Tax Bill
$5,451
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Orwell, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05760 | $1,160 | $2,901 | $4,038 | $5,898 | $6,087 |
Source: Ownwell