East Burke, Vermont Property Taxes
The median property tax rate in East Burke, VT is 2.48%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in East Burke at $201,400, the typical annual property tax bill reaches $5,022, exceeding the national median of $2,690. Property taxes in East Burke 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 East Burke'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 East Burke or another part of Caledonia County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
East Burke, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.48%
Estimate Property Tax Bill
$4,995
Ownwell’s EAST BURKE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EAST BURKE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EAST BURKE 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 East Burke, Vermont
Property taxes in East Burke, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Burke is 2.48%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within East Burke set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Burke 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 East Burke's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05832 has the highest median property tax rate of 2.48%, while the same zip code also has the lowest median tax rate of 2.48%. Understanding how these areas compare with East Burke provides valuable insights into the varying tax landscape across Caledonia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Burke Tax Rate
2.48%
Average Caledonia County Tax Rate
2.48%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Burke, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05832 | 2.48% | 2.48% | 2.48% | 2.48% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across East Burke, Vermont
In East Burke, 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 Caledonia 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 East Burke, 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 East Burke helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 05832 has both the highest and lowest median tax bill, standing at $5,022.
Average East Burke Assessed Value
$201,400
Average Caledonia County Assessed Value
$151,500
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Burke, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05832 | $101,440 | $146,300 | $201,400 | $277,500 | $421,500 |
Source: Ownwell
Property Tax Bills Across East Burke, Vermont
In East Burke, Caledonia County, VT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is meant to reflect the market value of the property. This value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $201,400, property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $3,612, while those at the 75th percentile could see bills as high as $6,995. The 90th percentile tax bill can reach up to $11,228. These variations highlight how property taxes can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, the property tax rates in East Burke can result in higher tax bills, affecting the overall affordability of homeownership in the area. Understanding these factors is crucial for homeowners to budget effectively and plan for their financial future.
Average East Burke Tax Bill
$5,022
Average Caledonia County Tax Bill
$3,630
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across East Burke, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05832 | $2,516 | $3,612 | $5,022 | $6,995 | $11,228 |
Source: Ownwell