Stowe, Vermont Property Taxes
The median property tax rate in Stowe, VT is 0.58%, significantly lower than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Stowe at $381,000, the typical annual property tax bill is $2,532, which falls below the national median of $2,690. Property taxes in Stowe are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stowe'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 Stowe 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
Stowe, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$2,210
Ownwell’s Stowe Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stowe with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Stowe to provide an accurate estimate of your property tax bill. This insightful tool helps you grasp potential tax liabilities and make informed decisions. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Stowe, Vermont
Property taxes in Stowe, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stowe is 0.58%, significantly lower than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Stowe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stowe 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 Stowe's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05672 zip code has the highest median property tax rate of 0.58%, while the same 05672 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Stowe provides valuable insights into the varying tax landscape across Lamoille County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stowe Tax Rate
0.58%
Average Lamoille County Tax Rate
2.18%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stowe, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05672 | 0.20% | 0.55% | 0.58% | 0.65% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Stowe, Vermont
In Stowe, 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 appraisal 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. In Stowe, 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 Stowe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Stowe is $2,532, with the highest and lowest median tax bills both occurring in the 05672 zip code.
Average Stowe Assessed Value
$381,000
Average Lamoille County Assessed Value
$219,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stowe, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05672 | $171,730 | $252,950 | $381,000 | $581,300 | $952,350 |
Source: Ownwell
Property Tax Bills Across Stowe, Vermont
In Stowe, VT, property tax bills are calculated based on the assessed value of homes, which is determined by local assessors. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's market value, any improvements made, and comparable property values in the area. Homeowners in Stowe can expect a wide range of tax bills. For instance, the 25th percentile tax bill is around $1,297, while the 75th percentile reaches $5,009. At the higher end, the 90th percentile tax bill can soar to $10,690. This variability highlights how differing property assessments and market conditions impact individual tax obligations. Compared to the national median property tax rate of 0.99%, Stowe's tax bills can seem substantial, reflecting the area's property values and local tax rates. For homeowners, understanding these factors is crucial for financial planning and managing annual expenses related to property ownership.
Average Stowe Tax Bill
$2,532
Average Lamoille County Tax Bill
$3,189
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Stowe, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05672 | $419 | $1,297 | $2,532 | $5,009 | $10,690 |
Source: Ownwell