Pownal, Vermont Property Taxes
The median property tax rate in Pownal, VT is 2.14%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Pownal at $144,600, the typical annual property tax bill reaches $3,100, exceeding the national median of $2,690. Property taxes in Pownal 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 Pownal'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 Pownal 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
Pownal, 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 Pownal Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pownal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pownal 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 Pownal, Vermont
Property taxes in Pownal, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pownal is 2.14%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Pownal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pownal 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 Pownal's effective property tax rate to other areas in Vermont and the national median. For comparison, the 05261 zip code has the highest median property tax rate of 2.14%, while the same zip code also has the lowest median tax rate of 2.14%. Understanding how these areas compare with Pownal 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 Pownal Tax Rate
2.14%
Average Bennington County Tax Rate
2.14%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pownal, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05261 | 2.14% | 2.14% | 2.14% | 2.14% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Pownal, Vermont
In Pownal, 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 Pownal, 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 Pownal helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Pownal are both $3100, found in the 05261 zip code.
Average Pownal Assessed Value
$144,600
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 Pownal, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05261 | $11,300 | $67,200 | $144,600 | $194,400 | $263,700 |
Source: Ownwell
Property Tax Bills Across Pownal, Vermont
In Pownal, Bennington County, VT, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of the home. For instance, with a median home price of $144,600, homeowners can expect their property tax bill to vary significantly. The tax rate in Pownal is applied to the assessed value to determine the annual tax bill. Various factors, including the property's size, location, and condition, influence the assessed value. Homeowners in the 25th percentile of tax bills pay around $1,440, while those in the 75th percentile face bills as high as $4,169. The 90th percentile sees even steeper taxes at $5,651. Compared to the national median property tax rate of 0.99%, Pownal's tax bills can be relatively high, reflecting the local tax rate and property values. This variation in tax bills can significantly impact homeowners, influencing their financial planning and long-term investment in their properties.
Average Pownal Tax Bill
$3,100
Average Bennington County Tax Bill
$4,152
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Pownal, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05261 | $245 | $1,440 | $3,100 | $4,169 | $5,651 |
Source: Ownwell