Middlesex, Vermont Property Taxes
The median property tax rate in Middlesex, VT is 0.34%, significantly lower than both the national median of 0.99% and the Vermont state median of 2.11%. With a median home value of $256,100 in Middlesex, the typical annual property tax bill amounts to $1,359, which is below the national median of $2,690. Property taxes in Middlesex are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Middlesex'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 Middlesex 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
Middlesex, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$871
Ownwell’s Middlesex Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Middlesex to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making financial planning easier. Scroll down for more localized information if you’re interested in neighborhood-level trends. Your property’s assessed value is determined by Washington County for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Middlesex, Vermont
Property taxes in Middlesex, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middlesex is 1.79%, significantly higher than both the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within Middlesex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middlesex 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 Middlesex's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05602 zip code has the highest median property tax rate of 1.93%, while the 05663 zip code has the lowest median tax rate of 1.79%. Understanding how these cities compare with Middlesex 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 Middlesex Tax Rate
0.34%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middlesex, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05602 | 0.34% | 0.34% | 0.34% | 0.34% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across Middlesex, Vermont
In Middlesex, 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 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. In Middlesex, 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 Middlesex helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,359, corresponding to the zip code 05602.
Average Middlesex Assessed Value
$256,100
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 Middlesex, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05602 | $151,600 | $184,800 | $256,100 | $385,975 | $483,050 |
Source: Ownwell
Property Tax Bills Across Middlesex, Vermont
In Middlesex, Washington County, VT, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For instance, with a median home price of $256,100, homeowners can expect their property tax bill to be around $1,359, which is consistent across various percentiles in the area. Several factors influence the assessed value, including the property's location, size, and condition. Local government budgets and school funding needs also play a crucial role in determining the tax rate. This tax rate in Middlesex is relatively lower compared to the national median property tax rate of 0.99%. For homeowners, understanding these calculations is essential as property taxes impact their annual financial planning. A predictable tax bill, like the consistent $1,359 seen in Middlesex, allows for better financial management and planning for future expenses.
Average Middlesex Tax Bill
$1,359
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Middlesex, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05602 | $1,359 | $1,359 | $1,359 | $1,359 | $1,359 |
Source: Ownwell