Bethel, Vermont Property Taxes
The median property tax rate in Bethel, VT is 2.25%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Bethel, the typical annual property tax bill reaches $3,663, exceeding the national median of $2,690. Property taxes in Bethel 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 Bethel'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 Bethel 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
Bethel, 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 Bethel Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bethel with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bethel to project your property tax bill. This valuable tool provides insight into potential tax obligations. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, incorporating any applicable exemptions.
Property Tax Rates Across Bethel, Vermont
Property taxes in Bethel, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethel is 2.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bethel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethel 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 Bethel's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05032 zip code has the highest median property tax rate of 2.25%, while the same zip code also has the lowest median tax rate of 2.25%. Understanding how these cities compare with Bethel provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethel Tax Rate
2.25%
Average Orange County Tax Rate
2.24%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethel, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05032 | 2.25% | 2.25% | 2.25% | 2.25% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Bethel, Vermont
In Bethel, 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 local 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 Bethel, 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 Bethel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bethel is $162,500, with the highest and lowest median tax bills both recorded at $3,663 in the 05032 zip code.
Average Bethel Assessed Value
$162,500
Average Orange County Assessed Value
$178,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethel, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05032 | $70,840 | $114,800 | $162,500 | $234,300 | $287,520 |
Source: Ownwell
Property Tax Bills Across Bethel, Vermont
In Bethel, Orange County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Bethel is $162,500, and the property tax rate is influenced by various factors, including local government budgets for schools, infrastructure, and public services. Homeowners in Bethel can expect their property tax bills to vary, with the 25th percentile at $2,588 and the 75th percentile at $5,437. The 90th percentile tax bill reaches up to $6,481. These tax bills are a significant consideration for homeowners, directly impacting their annual expenses. Compared to the national median property tax rate of 0.99%, Bethel's property tax rates reflect the town's specific fiscal needs and priorities. The highest and lowest median tax bills in the area are both $3,663, indicating a relatively stable range within the zip code 05032. Understanding these factors helps homeowners in Bethel plan their finances and anticipate their yearly property tax obligations.
Average Bethel Tax Bill
$3,663
Average Orange County Tax Bill
$3,722
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethel, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05032 | $1,597 | $2,588 | $3,663 | $5,437 | $6,481 |
Source: Ownwell