Lyndonville, Vermont Property Taxes
The median property tax rate in Lyndonville, 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 Lyndonville at $138,900, the typical annual property tax bill reaches $3,125, exceeding the national median of $2,690. Property taxes in Lyndonville 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 Lyndonville'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 Lyndonville 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
Lyndonville, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.28%
Estimate Property Tax Bill
$3,167
Ownwell’s Lyndonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyndonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyndonville 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 Lyndonville, Vermont
Property taxes in Lyndonville, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyndonville is 2.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lyndonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyndonville 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 Lyndonville's effective property tax rate to other areas in Caledonia County and the national median. For comparison, the zip code 05851 has both the highest and lowest median property tax rate of 2.28%. Understanding how these areas compare with Lyndonville 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 Lyndonville 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 Lyndonville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05851 | 2.28% | 2.28% | 2.28% | 2.28% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across Lyndonville, Vermont
In Lyndonville, 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 Lyndonville, 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. For instance, the median home price in Lyndonville is $138,900, with tax bills ranging from $1,720 at the 25th percentile to $6,404 at the 90th percentile. The zip code 05851 has the highest and lowest median tax bill, both at $3,125. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lyndonville Assessed Value
$138,900
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 Lyndonville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05851 | $38,380 | $86,700 | $138,900 | $192,100 | $266,560 |
Source: Ownwell
Property Tax Bills Across Lyndonville, Vermont
In Lyndonville, 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 the town's assessor and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Lyndonville can expect their tax bills to vary significantly, depending on the value of their property and the specific tax rates applied. For instance, the median home price in Lyndonville is $138,900. Tax bills can range widely, with the 25th percentile tax bill at $1,720 and the 75th percentile at $4,632. At the 90th percentile, tax bills can reach as high as $6,404. This variability in tax bills can have a substantial impact on homeowners, influencing their overall housing costs and financial planning. The highest and lowest median tax bills in the area are both recorded at $3,125 in the zip code 05851, highlighting the range of property tax burdens within the region.
Average Lyndonville Tax Bill
$3,125
Average Caledonia County Tax Bill
$3,630
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyndonville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05851 | $899 | $1,720 | $3,125 | $4,632 | $6,404 |
Source: Ownwell