East Ryegate, Vermont Property Taxes
The median property tax rate in East Ryegate, VT is 2.15%, 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 Ryegate at $176,800, the typical annual property tax bill reaches $3,799, exceeding the national median of $2,690. Property taxes in East Ryegate 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 Ryegate'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 Ryegate 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 Ryegate, 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 East Ryegate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Ryegate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Ryegate 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 Ryegate, Vermont
Property taxes in East Ryegate, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Ryegate is 2.15%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within East Ryegate set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Ryegate 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 Ryegate's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05042 zip code has the highest median property tax rate of 2.15%, while the same zip code also has the lowest median tax rate of 2.15%. Understanding how these cities compare with East Ryegate 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 Ryegate Tax Rate
2.15%
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 Ryegate, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05042 | 2.15% | 2.15% | 2.15% | 2.15% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across East Ryegate, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in East Ryegate, Vermont. 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 Ryegate, 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 Ryegate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 05042 has the highest median tax bill of $20,375, while the lowest is also in the same zip code.
Average East Ryegate Assessed Value
$176,800
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 Ryegate, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05042 | $67,180 | $112,900 | $176,800 | $251,200 | $354,500 |
Source: Ownwell
Property Tax Bills Across East Ryegate, Vermont
In East Ryegate, located in Caledonia County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $176,800, homeowners can expect their tax bill to reflect this valuation. Several factors influence the tax bill, including the property's location, size, and any improvements made. Homeowners in East Ryegate should note that property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance, directly impacting the community's quality of life. Comparatively, the property tax rate in East Ryegate may be higher or lower than the national median rate of 0.99%, affecting the overall financial burden on homeowners. Understanding these components can help homeowners anticipate their tax liabilities and plan their finances accordingly.
Average East Ryegate Tax Bill
$20,375
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 Ryegate, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05042 | $20,375 | $20,375 | $20,375 | $20,375 | $20,375 |
Source: Ownwell