Brighton, Vermont Property Taxes
The median property tax rate in Brighton, VT is 2.23%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Brighton at $39,000, the typical annual property tax bill reaches $840, which is significantly lower than the national median of $2,690. Property taxes in Brighton 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 Brighton'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 Brighton 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
Brighton, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.23%
Estimate Property Tax Bill
$870
Ownwell’s Brighton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Brighton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brighton to give you an accurate property tax bill estimate. This valuable tool helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more detailed insights, you can explore trends on a neighborhood level by scrolling down. Your property’s assessed value, determined by Essex County, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Brighton, Vermont
Property taxes in Brighton, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brighton is 2.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Brighton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brighton 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 Brighton's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05846 has both the highest and lowest median property tax rate of 2.23%. Understanding how these areas compare with Brighton provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brighton Tax Rate
2.23%
Average Essex County Tax Rate
2.23%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brighton, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05846 | 2.23% | 2.23% | 2.23% | 2.23% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Brighton, Vermont
In Brighton, 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 Essex 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 Brighton, 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 Brighton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bills in Brighton are both $840, with the zip code 05846.
Average Brighton Assessed Value
$39,000
Average Essex County Assessed Value
$115,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brighton, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05846 | $14,100 | $19,250 | $39,000 | $143,100 | $221,940 |
Source: Ownwell
Property Tax Bills Across Brighton, Vermont
In Brighton, Essex County, VT, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of your property. This value is then multiplied by the tax rate to calculate your annual tax bill. For instance, with a median home price of $39,000, homeowners can expect varying tax bills. The 25th percentile tax bill is around $468, while those at the 75th percentile pay approximately $2,932. At the 90th percentile, tax bills can reach up to $4,985. Notably, the highest and lowest median tax bills in the area are both $840, which is significantly lower than the national median property tax rate of 0.99%. These tax bills directly impact homeowners, influencing their annual expenses and overall cost of living. Understanding how these factors interplay helps homeowners budget effectively and anticipate their financial obligations.
Average Brighton Tax Bill
$840
Average Essex County Tax Bill
$2,384
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Brighton, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05846 | $332 | $468 | $840 | $2,932 | $4,985 |
Source: Ownwell