Stockbridge, Vermont Property Taxes
The median property tax rate in Stockbridge, VT is 1.64%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Stockbridge at $239,400, the typical annual property tax bill reaches $3,920, exceeding the national median of $2,690. Property taxes in Stockbridge 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 Stockbridge'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 Stockbridge 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
Stockbridge, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$3,926
Ownwell’s Stockbridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stockbridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stockbridge 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 Stockbridge, Vermont
Property taxes in Stockbridge, Vermont, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Stockbridge stands at 1.64%, which is notably higher than the U.S. national median of 0.99%. Local government entities in Stockbridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stockbridge 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 Stockbridge's effective property tax rate to other areas in Rutland County and the national median. For comparison, the zip code 05772 has both the highest and lowest median property tax rate in the region at 1.64%. Understanding how these areas compare with Stockbridge 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 Stockbridge Tax Rate
1.64%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stockbridge, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05772 | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Stockbridge, Vermont
In Stockbridge, 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 Stockbridge, 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. The median home price in Stockbridge is $239,400, with the highest and lowest median tax bills both reported at $3,920 in the 05772 zip code. Being aware of these valuation processes in Stockbridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stockbridge Assessed Value
$239,400
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 Stockbridge, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05772 | $239,400 | $239,400 | $239,400 | $239,400 | $239,400 |
Source: Ownwell
Property Tax Bills Across Stockbridge, Vermont
In Stockbridge, Rutland County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Stockbridge is $239,400, and the property tax rate is a significant factor in determining the final tax bill. Homeowners in this area experience a median property tax bill of $3,920, which is notably higher than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. For homeowners, this means that property taxes can form a substantial portion of their annual expenses. The consistency in the tax bills, with the 25th, 75th, and 90th percentiles all being $3,920, indicates a uniform assessment approach within the community. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly, ensuring they are prepared for the annual property tax payment.
Average Stockbridge Tax Bill
$3,920
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Stockbridge, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05772 | $3,920 | $3,920 | $3,920 | $3,920 | $3,920 |
Source: Ownwell