Duxbury, Vermont Property Taxes
The median property tax rate in Duxbury, VT is 2.15%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Duxbury, the typical annual property tax bill reaches $2,790, exceeding the national median of $2,690. Property taxes in Duxbury 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 Duxbury'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 Duxbury 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
Duxbury, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.15%
Estimate Property Tax Bill
$2,789
Ownwell’s Duxbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Duxbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Duxbury 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 Duxbury, Vermont
Property taxes in Duxbury, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Duxbury is 2.15%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Duxbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Duxbury 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 Duxbury's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05676 zip code has the highest median property tax rate of 2.15%, while the 05676 zip code also has the lowest median tax rate of 2.15%. Understanding how these cities compare with Duxbury provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Duxbury Tax Rate
2.15%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Duxbury, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05676 | 2.15% | 2.15% | 2.15% | 2.15% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Duxbury, Vermont
In Duxbury, 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 Duxbury, 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 Duxbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $2,790, with the zip code 05676 reflecting this value.
Average Duxbury Assessed Value
$129,700
Average Washington County Assessed Value
$205,330
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Duxbury, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05676 | $23,140 | $62,600 | $129,700 | $223,000 | $306,060 |
Source: Ownwell
Property Tax Bills Across Duxbury, Vermont
Property tax bills in Duxbury, Washington County, VT, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home, determined by the town’s assessor. Homeowners in Duxbury can expect property tax bills that vary significantly, reflecting the diverse range of property values in the area. For example, while the 25th percentile tax bill is around $1,347, the 75th percentile tax bill reaches approximately $4,797. This variance is influenced by factors such as property size, location, and improvements. At the 90th percentile, tax bills can be as high as $6,583. The median home price in Duxbury is $129,700, and the property tax rate here is notably higher than the national median of 0.99%. These property taxes fund essential local services, including schools, public safety, and infrastructure, directly impacting homeowners' community quality and property values.
Average Duxbury Tax Bill
$2,790
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Duxbury, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05676 | $498 | $1,347 | $2,790 | $4,797 | $6,583 |
Source: Ownwell