Bellows Falls, Vermont Property Taxes
The median property tax rate in Bellows Falls, VT is 3.34%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Bellows Falls at $126,350, the typical annual property tax bill reaches $3,897, exceeding the national median of $2,690. Property taxes in Bellows Falls 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 Bellows Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bellows Falls 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
Bellows Falls, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.34%
Estimate Property Tax Bill
$4,220
Ownwell’s Bellows Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bellows Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bellows Falls 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 Bellows Falls, Vermont
Property taxes in Bellows Falls, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bellows Falls is 3.34%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Bellows Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bellows Falls 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 Bellows Falls' effective property tax rate to other counties in Vermont and the national median. For comparison, the 05101 zip code has the highest median property tax rate of 3.34%, while the same 05101 zip code also has the lowest median tax rate of 3.34%. Understanding how these cities compare with Bellows Falls provides valuable insights into the varying tax landscape across Windham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bellows Falls Tax Rate
3.34%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bellows Falls, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05101 | 2.73% | 2.73% | 3.34% | 3.35% | 3.35% |
Source: Ownwell
Property Tax Assessment Values Across Bellows Falls, Vermont
In Bellows Falls, 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 Windham 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 Bellows Falls, 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 Bellows Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 05101 has both the highest and lowest median tax bill at $3,897, reflecting the uniformity in property tax assessments in the area.
Average Bellows Falls Assessed Value
$126,350
Average Windham County Assessed Value
$195,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bellows Falls, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05101 | $70,240 | $97,300 | $126,350 | $167,175 | $225,080 |
Source: Ownwell
Property Tax Bills Across Bellows Falls, Vermont
In Bellows Falls, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $126,350, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $2,852, while at the 75th percentile, it rises to approximately $4,975. Those at the 90th percentile may see tax bills as high as $6,340. The tax rate in Bellows Falls is influenced by various factors, including the local budget needs for public services such as schools, infrastructure, and emergency services. This means that fluctuations in the budget or changes in property assessments can directly impact what homeowners owe. Compared to the national median property tax rate of 0.99%, Bellows Falls homeowners experience a higher tax burden, reflecting the community's specific fiscal requirements and property values.
Average Bellows Falls Tax Bill
$3,897
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Bellows Falls, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05101 | $1,418 | $2,852 | $3,897 | $4,975 | $6,340 |
Source: Ownwell