Manchester Center, Vermont Property Taxes
The median property tax rate in Manchester Center, VT is 1.82%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Manchester Center at $276,500, the typical annual property tax bill reaches $5,046, exceeding the national median of $2,690. Property taxes in Manchester Center 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 Manchester Center'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 Manchester Center 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
Manchester Center, 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 Manchester Center Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manchester Center with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manchester Center 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 Manchester Center, Vermont
Property taxes in Manchester Center, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manchester Center stands at 1.82%, significantly higher than the U.S. national median of 0.99%. Local government entities within Manchester Center set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manchester Center 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 Manchester Center's effective property tax rate to other areas in Bennington County and the national median. For comparison, the zip code 05255 has the highest median property tax rate of 1.82%, while the same zip code also represents the lowest median tax rate of 1.82%. Understanding how these cities compare with Manchester Center 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 Manchester Center Tax Rate
1.82%
Average Bennington County Tax Rate
2.14%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manchester Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05255 | 1.82% | 1.82% | 1.82% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Manchester Center, Vermont
In Manchester Center, 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 Manchester Center, 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 Manchester Center helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 05255 features both the highest and lowest median tax bills, each at $5046.
Property Tax Assessment Values Across Manchester Center, Vermont
Source: Ownwell
$117,100
$265,583
$414,065
Average Manchester Center Assessed Value
$276,500
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 Manchester Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05255 | $125,560 | $199,550 | $276,500 | $427,850 | $638,660 |
Source: Ownwell
Property Tax Bills Across Manchester Center, Vermont
Property tax bills in Manchester Center, Bennington County, VT, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For example, with a median home price of $276,500 in Manchester Center, homeowners can expect varying tax bills. The tax bill at the 25th percentile is $3,639, while at the 75th percentile, it reaches $7,753. Those at the 90th percentile see tax bills as high as $11,646. The highest and lowest median tax bills are both $5,046 in the 05255 ZIP code. Comparatively, the national median property tax rate is 0.99%, making Manchester Center's property tax rates notably significant. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by supporting community resources and property values.
Average Manchester Center Tax Bill
$5,046
Average Bennington County Tax Bill
$4,152
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Manchester Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05255 | $2,290 | $3,639 | $5,046 | $7,753 | $11,646 |
Source: Ownwell