Randolph Center, Vermont Property Taxes
The median property tax rate in Randolph Center, VT is 2.41%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Randolph Center at $207,700, the typical annual property tax bill reaches $4,958, far exceeding the national median of $2,690. Property taxes in Randolph Center 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 Randolph Center'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 Randolph Center or another part of Orange County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Randolph Center, 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 Randolph Center Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph Center with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph Center 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 Randolph Center, Vermont
Property taxes in Randolph Center, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph Center is 1.88%, significantly higher than the U.S. national median of 0.99%. Local government entities within Randolph Center set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph Center 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 Randolph Center's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05061 zip code in Orange County has the highest and lowest median property tax rate of 1.88%. Understanding how these cities compare with Randolph Center 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 Randolph Center Tax Rate
2.41%
Average Orange County Tax Rate
2.24%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05061 | 2.41% | 2.41% | 2.41% | 2.41% | 2.41% |
Source: Ownwell
Property Tax Assessment Values Across Randolph Center, Vermont
In Randolph Center, 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 Orange 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 Randolph Center, 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 Randolph Center helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,958 in zip code 05061, while the lowest median tax bill is also $4,958 in the same zip code.
Property Tax Assessment Values Across Randolph Center, Vermont
Source: Ownwell
$109,700
$325,650
$541,600
Average Randolph Center Assessed Value
$207,700
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 Randolph Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05061 | $97,020 | $150,600 | $207,700 | $289,600 | $413,340 |
Source: Ownwell
Property Tax Bills Across Randolph Center, Vermont
In Randolph Center, property tax bills are calculated based on the assessed value of your home and the local tax rate set by Orange County. The assessed value is determined by the town's assessor, who evaluates the market value of your property. This value is then multiplied by the local tax rate to calculate your annual property tax bill. For instance, with a median home price of $207,700, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property size, location, and improvements can influence the assessed value. In Orange County, tax bills can range significantly, with the 25th percentile at $3,598 and the 75th percentile at $6,890. Notably, the 90th percentile tax bill reaches up to $9,905. These property taxes directly impact homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, homeowners in Randolph Center may experience higher tax rates, affecting their annual budget and long-term investment in their property.
Average Randolph Center Tax Bill
$4,958
Average Orange County Tax Bill
$3,722
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05061 | $2,323 | $3,598 | $4,958 | $6,890 | $9,905 |
Source: Ownwell