Marshfield, Vermont Property Taxes
The median property tax rate in Marshfield, VT is 2.20%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Marshfield at $167,800, the typical annual property tax bill reaches $3,513, exceeding the national median of $2,690. Property taxes in Marshfield 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 Marshfield'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 Marshfield 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
Marshfield, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.2%
Estimate Property Tax Bill
$3,692
Ownwell’s Marshfield Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Marshfield with just two simple inputs. By entering your property's estimated assessed value, the calculator leverages the median tax rate in Marshfield to provide an accurate estimate of your property tax bill. This valuable tool offers clarity on potential tax obligations, helping you make informed financial decisions. For those interested in more granular insights, localized information on neighborhood trends is available just below. Your property’s assessed value, determined by Washington County, is the basis for property tax calculations, with any applicable exemptions taken into account.
Property Tax Rates Across Marshfield, Vermont
Property taxes in Marshfield, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshfield is 2.20%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Marshfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshfield 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 Marshfield's effective property tax rate to other areas in Vermont and the national median. For comparison, the 05658 zip code has the highest median property tax rate of 2.20%, while the same 05658 zip code also has the lowest median tax rate of 2.20%. Understanding how these areas compare with Marshfield 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 Marshfield Tax Rate
2.20%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05658 | 1.62% | 1.94% | 2.20% | 2.32% | 2.50% |
Source: Ownwell
Property Tax Assessment Values Across Marshfield, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Marshfield, Vermont. 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 Washington 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. Assessment notices in Marshfield 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. In Marshfield, the median home price is $167,800. Homeowners in the 25th percentile face a tax bill of $2,384, while those in the 75th percentile face a tax bill of $5,171. The highest median tax bill in the area is $3,513 in the 05658 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marshfield Assessed Value
$167,800
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 Marshfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05658 | $74,590 | $120,375 | $167,800 | $247,400 | $356,530 |
Source: Ownwell
Property Tax Bills Across Marshfield, Vermont
In Marshfield, Washington County, VT, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. The median home price in Marshfield is $167,800, and the property tax rate is applied to this assessed value to determine the tax bill. Various factors influence the assessed value, including the home's market value, location, and property characteristics. Homeowners in Marshfield can expect property tax bills to vary widely. For instance, the 25th percentile tax bill is $2,384, while the 75th percentile tax bill is $5,171, and the 90th percentile tax bill reaches $7,241. These amounts highlight the range of tax obligations homeowners may face depending on their property's assessed value and other influencing factors. Compared to the national median property tax rate of 0.99%, the property tax bills in Marshfield can be relatively high, affecting homeowners' financial planning and overall cost of living. Understanding these factors is crucial for homeowners to anticipate and manage their annual tax responsibilities effectively.
Average Marshfield Tax Bill
$3,513
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05658 | $1,521 | $2,384 | $3,513 | $5,171 | $7,241 |
Source: Ownwell