Sheldon, Vermont Property Taxes
The median property tax rate in Sheldon, VT is 2.11%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Sheldon, the typical annual property tax bill reaches $3,784, exceeding the national median of $2,690. Property taxes in Sheldon 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 Sheldon'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 Sheldon 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
Sheldon, 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 Sheldon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sheldon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sheldon 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 Sheldon, Vermont
Property taxes in Sheldon, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sheldon is 1.90%, higher than both the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within Sheldon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sheldon 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 Sheldon's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05483 zip code has the highest median property tax rate of 1.90%, while the same zip code also has the lowest median tax rate of 1.90%. Understanding how these cities compare with Sheldon provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sheldon Tax Rate
2.11%
Average Franklin County Tax Rate
2.01%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sheldon, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05483 | 2.01% | 2.11% | 2.11% | 2.11% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Sheldon, Vermont
In Sheldon, 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 local authorities 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. Assessment notices in Sheldon 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 highest median tax bill in Sheldon is $3,784 in the 05483 zip code, while the lowest median tax bill is also $3,784 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sheldon Assessed Value
$182,500
Average Franklin County Assessed Value
$195,300
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sheldon, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05483 | $99,700 | $141,050 | $182,500 | $244,900 | $308,200 |
Source: Ownwell
Property Tax Bills Across Sheldon, Vermont
In Sheldon, Vermont, 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 is meant to reflect the market value of the property. Homeowners in Sheldon face a median property tax rate that is above the national median of 0.99%. For example, the median home price in Sheldon is $182,500, which can result in a substantial tax bill. Factors influencing the tax bill include the property's assessed value, any exemptions or deductions the homeowner may qualify for, and the specific rates set by local government entities. The tax bill can vary widely; for instance, the 25th percentile tax bill is $2,928, while the 75th percentile tax bill reaches $5,068. At the 90th percentile, homeowners might see a tax bill as high as $6,402. These taxes fund essential public services like schools, infrastructure, and emergency services, making them a crucial component of community wellbeing.
Average Sheldon Tax Bill
$3,784
Average Franklin County Tax Bill
$2,567
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Sheldon, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05483 | $2,036 | $2,928 | $3,784 | $5,068 | $6,402 |
Source: Ownwell