Weybridge, Vermont Property Taxes
The median property tax rate in Weybridge, VT is 2.04%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Weybridge at $281,100, the typical annual property tax bill reaches $5,090, exceeding the national median of $2,690. Property taxes in Weybridge 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 Weybridge'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 Weybridge 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
Weybridge, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$5,734
Ownwell’s Weybridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weybridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weybridge 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 Weybridge, Vermont
Property taxes in Weybridge, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weybridge is 2.04%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Weybridge set these rates annually, and they can vary across different neighborhoods. Each year, Weybridge 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 Weybridge's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05753 has the highest median property tax rate of 2.04%, while the same zip code also has the lowest median tax rate of 2.04%. Understanding how these areas compare with Weybridge 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 Weybridge Tax Rate
2.04%
Average Addison County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weybridge, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05753 | 2.04% | 2.04% | 2.04% | 2.29% | 2.39% |
Source: Ownwell
Property Tax Assessment Values Across Weybridge, Vermont
In Weybridge, 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 Weybridge, 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 Weybridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Weybridge is $281,100, with the highest and lowest median tax bills both at $5,090 in the 05753 zip code.
Average Weybridge Assessed Value
$281,100
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 Weybridge, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05753 | $169,260 | $215,300 | $281,100 | $386,450 | $557,020 |
Source: Ownwell
Property Tax Bills Across Weybridge, Vermont
In Weybridge, located in Addison County, VT, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Weybridge, the median home price is $281,100, and property tax bills can vary significantly. Factors such as property size, location, and improvements can influence the assessed value. For instance, the tax bill at the 25th percentile is around $4,400, while at the 75th percentile, it jumps to $10,172. The 90th percentile sees a tax bill as high as $17,873, indicating a wide range in property tax obligations. This variability can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. High property taxes can affect affordability and the overall cost of homeownership, making it crucial for residents to understand how their tax bill is determined and what factors may cause fluctuations.
Average Weybridge Tax Bill
$5,090
Average Addison County Tax Bill
$5,451
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Weybridge, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05753 | $3,370 | $4,400 | $5,090 | $10,172 | $17,873 |
Source: Ownwell