Irasburg, Vermont Property Taxes
The median property tax rate in Irasburg, VT is 2.12%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Irasburg at $158,250, the typical annual property tax bill reaches $3,308, exceeding the national median of $2,690. Property taxes in Irasburg are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Irasburg'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 Irasburg or another part of Orleans County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Irasburg, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.12%
Estimate Property Tax Bill
$3,355
Ownwell’s Irasburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Irasburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Irasburg to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, scroll down to discover more localized information. Your property’s assessed value is the value assigned by Orleans County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Irasburg, Vermont
Property taxes in Irasburg, Vermont, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Irasburg is 2.12%, significantly higher than the U.S. national median of 0.99%. Local government entities within Irasburg set these rates annually, and they can vary across different neighborhoods. Each year, Irasburg 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 Irasburg's effective property tax rate to other areas in Orleans County and the national median. For comparison, the 05822 zip code has the highest median property tax rate of 2.12%, while the 05845 zip code has the lowest median tax rate of 2.12%. Understanding how these areas compare with Irasburg 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 Irasburg Tax Rate
2.12%
Average Orleans County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Irasburg, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05822 | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% |
| 05845 | 2.01% | 2.01% | 2.12% | 2.12% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Irasburg, Vermont
In Irasburg, 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 Orleans 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 Irasburg, 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 Irasburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 05822 at $4,017, while the lowest is 05845 at $3,302.
Average Irasburg Assessed Value
$158,250
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 Irasburg, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05822 | $189,300 | $189,300 | $189,300 | $189,300 | $189,300 |
| 05845 | $57,400 | $101,200 | $158,200 | $225,800 | $292,860 |
Source: Ownwell
Property Tax Bills Across Irasburg, Vermont
In Irasburg, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Irasburg stands at $158,250, which serves as a basis for determining the tax bill. Homeowners can expect their tax bills to vary widely, with the 25th percentile paying around $2,118 and the 75th percentile facing bills up to $4,712. At the higher end, the 90th percentile sees tax bills reaching $6,097. Several factors influence these tax bills, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Irasburg's rates can significantly impact homeowners, especially those in areas with the highest median tax bills, such as the zip code 05822, where the median tax bill is $4,017. Conversely, the lowest median tax bill in zip code 05845 is $3,302. These variations highlight the importance of understanding local tax assessments and potential savings through appeals or exemptions.
Average Irasburg Tax Bill
$3,308
Average Orleans County Tax Bill
$3,124
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Irasburg, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05822 | $4,017 | $4,017 | $4,017 | $4,017 | $4,017 |
| 05845 | $1,176 | $2,118 | $3,302 | $4,715 | $6,100 |
Source: Ownwell