Bondville, Vermont Property Taxes
The median property tax rate in Bondville, VT is 2.11%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Bondville at $323,100, the typical annual property tax bill reaches $6,818, exceeding the national median of $2,690. Property taxes in Bondville 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 Bondville'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 Bondville 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
Bondville, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$6,817
Ownwell’s Bondville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bondville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bondville 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 Bondville, Vermont
Property taxes in Bondville, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bondville is 2.11%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Bondville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bondville 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 Bondville's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05340 zip code has both the highest and the lowest median property tax rate of 2.11%. Understanding how these cities compare with Bondville provides valuable insights into the varying tax landscape across Bennington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bondville Tax Rate
2.11%
Average Bennington County Tax Rate
2.14%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bondville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05340 | 2.11% | 2.11% | 2.11% | 2.11% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Bondville, Vermont
In Bondville, 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 Bennington 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 Bondville, 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. The median home price in Bondville is $323,100, with tax bills ranging significantly. The 25th percentile tax bill is $4,934, while the 75th percentile tax bill reaches $10,154, and the 90th percentile tax bill is $14,939. Notably, the highest and lowest median tax bills are both $6,818 in the 05340 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bondville Assessed Value
$323,100
Average Bennington County Assessed Value
$189,500
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bondville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05340 | $171,400 | $233,800 | $323,100 | $481,300 | $708,320 |
Source: Ownwell
Property Tax Bills Across Bondville, Vermont
In Bondville, Vermont, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Bondville, the median home price is $323,100. The tax rate in Bennington County significantly impacts homeowners, with tax bills ranging widely depending on the property's value and specific location within the county. For instance, tax bills in Bondville can be as low as $4,934 at the 25th percentile, climbing to $10,154 at the 75th percentile, and reaching up to $14,939 at the 90th percentile. Comparatively, the national median property tax rate is 0.99%, suggesting that Bondville's property taxes are relatively high. This can substantially affect homeowners, influencing their overall housing costs and potentially their decision to buy or sell property within the area. The highest and lowest median tax bills in the county are notably the same at $6,818, highlighting a consistent tax burden across different zip codes.
Average Bondville Tax Bill
$6,818
Average Bennington County Tax Bill
$4,152
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Bondville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05340 | $3,628 | $4,934 | $6,818 | $10,154 | $14,939 |
Source: Ownwell