Center Rutland, Vermont Property Taxes
The median property tax rate in Center Rutland, VT is 1.74%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Center Rutland at $157,900, the typical annual property tax bill reaches $2,720, exceeding the national median of $2,690. Property taxes in Center Rutland 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 Center Rutland'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 Center Rutland 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
Center Rutland, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$2,747
Ownwell’s Center Rutland Property Tax Bill Calculator is designed to help homeowners, real estate investors, and potential buyers estimate their annual property taxes in Center Rutland with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Center Rutland to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, making it easier to plan your finances. For those interested in more detailed insights at a neighborhood level, additional localized information is available. Your property’s assessed value, determined by the county, serves as the basis for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Center Rutland, Vermont
Property taxes in Center Rutland, Vermont, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Center Rutland is 1.74%, significantly higher than the U.S. national median of 0.99%. Local government entities within Center Rutland set these rates annually, and they can vary across different neighborhoods. Each year, Center Rutland 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 Center Rutland's effective property tax rate to other areas in Rutland County and the national median. For comparison, the zip code 05736 has the highest median property tax rate of 1.74%, while the same zip code also has the lowest median tax rate of 1.74%. Understanding how these figures compare with Center Rutland provides valuable insights into the varying tax landscape across Rutland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Center Rutland Tax Rate
1.74%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Center Rutland, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05736 | 1.74% | 1.74% | 1.74% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Center Rutland, Vermont
In Center Rutland, 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 Rutland 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 Center Rutland, 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 Center Rutland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 05736 in Center Rutland has the highest median tax bill, recorded at $2720.
Property Tax Assessment Values Across Center Rutland, Vermont
Source: Ownwell
$78,800
$543,650
$1,008,500
Average Center Rutland Assessed Value
$157,900
Average Rutland County Assessed Value
$162,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Center Rutland, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05736 | $104,890 | $131,600 | $157,900 | $230,975 | $351,620 |
Source: Ownwell
Property Tax Bills Across Center Rutland, Vermont
In Center Rutland, located in Rutland County, VT, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in this area, the median home price is $157,900, which serves as a key factor in calculating their tax obligations. Several factors influence the assessed value, including property size, location, and condition. Once the assessed value is established, the tax rate is applied. In Center Rutland, the tax bills can vary significantly, with the 25th percentile at $2,272 and the 75th percentile at $3,830. The highest tax bills in the area can reach up to $6,208, affecting homeowners differently based on their property's value and specific circumstances. Compared to the national median property tax rate of 0.99%, Center Rutland's tax bills reflect the unique local economic and property conditions, impacting homeowners' financial planning and overall affordability.
Average Center Rutland Tax Bill
$2,720
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Center Rutland, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05736 | $1,819 | $2,272 | $2,720 | $3,830 | $6,208 |
Source: Ownwell