Lyndon Center, Vermont Property Taxes
The median property tax rate in Lyndon Center, VT is 2.28%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Lyndon Center at $106,700, the typical annual property tax bill reaches $1,566, exceeding the national median of $2,690. Property taxes in Lyndon 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 Lyndon 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 Lyndon 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
Lyndon Center, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.28%
Estimate Property Tax Bill
$2,433
Ownwell’s Lyndon Center Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyndon Center with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyndon 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 Lyndon Center, Vermont
Property taxes in Lyndon 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 Lyndon Center is 2.28%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Lyndon Center set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyndon 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 Lyndon Center's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05850 has both the highest and lowest median property tax rate of 2.28%. Understanding how these areas compare with Lyndon Center 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 Lyndon Center Tax Rate
2.28%
Average Caledonia County Tax Rate
2.48%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyndon Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05850 | 0.36% | 0.89% | 2.28% | 2.47% | 2.68% |
Source: Ownwell
Property Tax Assessment Values Across Lyndon Center, Vermont
In Lyndon 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 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 Lyndon 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 Lyndon Center helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills are both $1,566 in the 05850 zip code.
Average Lyndon Center Assessed Value
$106,700
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 Lyndon Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05850 | $41,200 | $63,250 | $106,700 | $147,400 | $164,000 |
Source: Ownwell
Property Tax Bills Across Lyndon Center, Vermont
In Lyndon Center, located in Caledonia County, VT, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The median home price in Lyndon Center is $106,700. Property tax rates in this area can vary, but the typical tax bill for homeowners falls between $1,460 at the 25th percentile and $2,385 at the 75th percentile, with the 90th percentile reaching up to $2,481. This means that homeowners in Lyndon Center could expect their tax bills to be influenced by the assessed market value of their property and the local tax rate applied to that value. Compared to the national median property tax rate of 0.99%, the property tax rate in Lyndon Center can result in significant annual costs for homeowners. These costs are crucial for funding local services such as schools, infrastructure, and emergency services, which directly impact the quality of life in the community.
Average Lyndon Center Tax Bill
$1,566
Average Caledonia County Tax Bill
$3,630
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyndon Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05850 | $584 | $1,460 | $1,566 | $2,385 | $2,481 |
Source: Ownwell