Dover, Vermont Property Taxes
The median property tax rate in Dover, VT is 0.75%, lower than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Dover, the typical annual property tax bill reaches $2,726, slightly below the national median of $2,690. Property taxes in Dover are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dover'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 Dover or another part of Windham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dover, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$2,247
Ownwell’s Dover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dover 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 Dover, Vermont
Property taxes in Dover, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dover is 0.75%, which is lower than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Dover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dover 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 Dover's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05341 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Dover 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 Dover Tax Rate
0.75%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dover, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05341 | 0.38% | 0.50% | 0.75% | 2.00% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Dover, Vermont
In Dover, 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 local 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 Dover, 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 Dover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Dover, both $2,726, are found in the 05341 zip code.
Average Dover Assessed Value
$299,550
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 Dover, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05341 | $136,938 | $181,990 | $299,550 | $406,330 | $527,714 |
Source: Ownwell
Property Tax Bills Across Dover, Vermont
In Dover, located in Windham County, VT, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local assessor and reflects the market value of the property. The tax rate, applied to this assessed value, is set by local government entities and is used to fund public services such as schools, emergency services, and infrastructure. Several factors influence the final tax bill, including the property's market value, any applicable exemptions, and the local tax rate. For instance, the median home price in Dover is $299,550. Homeowners in the 25th percentile can expect a tax bill of around $1,338, while those in the 75th percentile face a bill of approximately $4,686. The highest median tax bill in the area is $2,726, which is notably higher than the national median property tax rate of 0.99%. These property taxes significantly impact homeowners, as they must budget for these expenses annually. Understanding how these factors interplay can help homeowners better anticipate their financial obligations.
Average Dover Tax Bill
$2,726
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Dover, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05341 | $507 | $1,338 | $2,726 | $4,686 | $5,908 |
Source: Ownwell