Charleston, Vermont Property Taxes
The median property tax rate in Charleston, VT is 2.29%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Charleston, the typical annual property tax bill reaches $2,867, exceeding the national median of $2,690. Property taxes in Charleston 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 Charleston'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 Charleston 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
Charleston, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.29%
Estimate Property Tax Bill
$2,867
Ownwell’s Charleston Property Tax Bill Calculator offers an easy way for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Charleston with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Charleston to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, including any applicable exemptions.
Property Tax Rates Across Charleston, Vermont
Property taxes in Charleston, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charleston is 2.29%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Charleston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charleston 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 Charleston's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05872 zip code has the highest median property tax rate of 2.29%, while the same zip code also has the lowest median tax rate of 2.29%. Understanding how these cities compare with Charleston provides valuable insights into the varying tax landscape across Orleans County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charleston Tax Rate
2.29%
Average Orleans County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charleston, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05872 | 2.29% | 2.29% | 2.29% | 2.29% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Charleston, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Charleston, VT. The market value represents 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 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 Charleston, 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 Charleston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2867 in the 05872 zip code.
Average Charleston Assessed Value
$125,200
Average Orleans County Assessed Value
$150,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charleston, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05872 | $27,520 | $75,700 | $125,200 | $201,700 | $303,880 |
Source: Ownwell
Property Tax Bills Across Charleston, Vermont
In Charleston, Vermont, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which reflects the property's current worth in the real estate market. Various factors, such as property size, location, and improvements, influence this value. Charleston's property tax rate is influenced by Orleans County's fiscal needs and local budget requirements. For homeowners, the impact can be significant. With a median home price of $125,200, property tax bills can vary widely. The 25th percentile tax bill is around $1,734, while the 75th percentile reaches $4,619, and the 90th percentile climbs to $6,621. This range indicates that homeowners with higher-valued properties face substantially larger tax bills. Compared to the national median property tax rate of 0.99%, Charleston's rates can result in higher financial obligations for property owners, affecting their overall cost of homeownership and financial planning.
Average Charleston Tax Bill
$2,867
Average Orleans County Tax Bill
$3,124
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Charleston, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05872 | $630 | $1,734 | $2,867 | $4,619 | $6,621 |
Source: Ownwell