East Dorset, Vermont Property Taxes
The median property tax rate in East Dorset, VT is 1.88%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in East Dorset, the typical annual property tax bill reaches $5,224, exceeding the national median of $2,690. Property taxes in East Dorset 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 East Dorset'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 East Dorset 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
East Dorset, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$5,221
Ownwell’s EAST DORSET Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EAST DORSET with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EAST DORSET 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 East Dorset, Vermont
Property taxes in East Dorset, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Dorset is 1.88%, significantly higher than the U.S. national median of 0.99%. Local government entities within East Dorset set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Dorset 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 East Dorset's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05253 zip code has the highest median property tax rate of 1.88%, while the same zip code also has the lowest median tax rate of 1.88%. Understanding how these areas compare with East Dorset 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 East Dorset Tax Rate
1.88%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Dorset, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05253 | 1.88% | 1.88% | 1.88% | 1.88% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across East Dorset, Vermont
In East Dorset, 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 East Dorset, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in East Dorset is $277,700, with tax bills ranging from $2,440 at the 25th percentile to $8,887 at the 90th percentile. The highest median tax bill in the area is $5,224 in the 05253 zip code.
Average East Dorset Assessed Value
$277,700
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 East Dorset, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05253 | $81,560 | $129,700 | $277,700 | $387,650 | $417,540 |
Source: Ownwell
Property Tax Bills Across East Dorset, Vermont
In East Dorset, located in Rutland County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property’s market value and then apply an assessment ratio. The resulting figure is then multiplied by the local tax rate to arrive at the annual tax bill. Several factors influence the final tax bill, including property size, location, and improvements. For instance, the median home price in East Dorset is $277,700. Tax bills in the area can vary significantly, with the 25th percentile at $2,440 and the 75th percentile reaching $7,520. The 90th percentile can see tax bills as high as $8,887. These property taxes fund essential community services such as public schools, infrastructure, and emergency services. Homeowners in East Dorset, therefore, contribute to the overall well-being and development of their community through their property tax payments.
Average East Dorset Tax Bill
$5,224
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across East Dorset, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05253 | $1,534 | $2,440 | $5,224 | $7,520 | $8,887 |
Source: Ownwell