West Danville, Vermont Property Taxes
The median property tax rate in West Danville, VT, is 2.32%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in West Danville at $175,000, the typical annual property tax bill reaches $4,058, far exceeding the national median of $2,690. Property taxes in West Danville 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 West Danville'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 West Danville 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
West Danville, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.32%
Estimate Property Tax Bill
$4,060
Ownwell’s West Danville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Danville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Danville 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 West Danville, Vermont
Property taxes in West Danville, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Danville is 2.32%, significantly higher than the U.S. national median of 0.99%. Local government entities within West Danville set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Danville 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 West Danville's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05873 zip code has the highest median property tax rate of 2.32%, while the same 05873 zip code also has the lowest median tax rate of 2.32%. Understanding how these cities compare with West Danville 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 West Danville Tax Rate
2.32%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Danville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05873 | 2.32% | 2.32% | 2.32% | 2.32% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across West Danville, Vermont
In West Danville, 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 local authorities 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 West Danville, 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. For instance, the highest median tax bill in the area is $4,058 in the 05873 zip code, while the lowest median tax bill is also $4,058 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average West Danville Assessed Value
$175,000
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 West Danville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05873 | $99,920 | $153,875 | $175,000 | $222,650 | $261,730 |
Source: Ownwell
Property Tax Bills Across West Danville, Vermont
In West Danville, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $175,000, the property tax rate in Washington County significantly impacts homeowners. Several factors influence the tax bill, including property size, location, and any applicable exemptions. The tax bill can vary widely; for instance, the 25th percentile tax bill is $3,569, while the 75th percentile tax bill is $5,164, and the 90th percentile tax bill reaches $6,069. Homeowners in West Danville face a median tax bill of $4,058, which is considerably higher than the national median property tax rate of 0.99%. This high tax rate can affect homeowners by increasing their annual expenses, making it crucial for them to understand the factors that contribute to their property tax assessments.
Average West Danville Tax Bill
$4,058
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across West Danville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05873 | $2,318 | $3,569 | $4,058 | $5,164 | $6,069 |
Source: Ownwell