Stowe, Vermont Property Taxes
The median property tax rate in Stowe, VT is 0.89%, which is lower than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Stowe at $922,000, the typical annual property tax bill reaches $8,210, significantly exceeding the national median of $2,690. Property taxes in Stowe 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 Stowe'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 Stowe 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
Stowe, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$8,206
Ownwell’s Stowe Property Tax Bill Calculator assists homeowners, real estate investors, or potential buyers in estimating their annual property taxes in Stowe with just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Stowe to provide an estimated property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, further localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Stowe, Vermont
Property taxes in Stowe, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stowe is 1.90%, significantly higher than both the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within Stowe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stowe 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 Stowe's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05672 zip code has the highest median property tax rate of 1.90%, while the same zip code also has the lowest median tax rate of 1.90%. Understanding how these areas compare with Stowe 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 Stowe Tax Rate
0.89%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stowe, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05672 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Stowe, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stowe, 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. In Stowe, 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 Stowe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Stowe are both $8,210, found in the 05672 zip code, which is significantly higher than the national median property tax rate of 0.99%.
Average Stowe Assessed Value
$922,000
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 Stowe, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05672 | $922,000 | $922,000 | $922,000 | $922,000 | $922,000 |
Source: Ownwell
Property Tax Bills Across Stowe, Vermont
In Stowe, located in Washington 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 Stowe is $922,000. The tax rate is applied to this assessed value to determine the annual property tax bill. For instance, homeowners in Stowe can expect a median property tax bill of $8,210, which aligns with the 25th, 75th, and 90th percentiles, indicating a consistent tax rate across different property values. Several factors influence the property tax bill, including the home's assessed value, local government budget requirements, and any applicable exemptions or deductions. The tax rate in Stowe is notably higher than the national median property tax rate of 0.99%, reflecting the region's specific funding needs for public services and infrastructure. For homeowners, this means that owning a property in Stowe comes with a relatively high property tax burden, which can impact overall housing affordability and the long-term financial planning of residents.
Average Stowe Tax Bill
$8,210
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Stowe, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05672 | $8,210 | $8,210 | $8,210 | $8,210 | $8,210 |
Source: Ownwell