Putney, Vermont Property Taxes
The median property tax rate in Putney, VT, is 2.46%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Putney at $191,900, the typical annual property tax bill reaches $3,271, exceeding the national median of $2,690. Property taxes in Putney 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 Putney'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 Putney 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
Putney, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.46%
Estimate Property Tax Bill
$4,721
Ownwell’s Putney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Putney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Putney 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 Putney, Vermont
Property taxes in Putney, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Putney is 2.46%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Putney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Putney 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 Putney's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05346 zip code has the highest median property tax rate of 2.46%, while the same zip code also has the lowest median tax rate of 2.46%. Understanding how these cities compare with Putney 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 Putney Tax Rate
2.46%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Putney, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05346 | 0.59% | 1.17% | 2.46% | 2.46% | 2.46% |
Source: Ownwell
Property Tax Assessment Values Across Putney, Vermont
In Putney, 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 Putney, 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 example, the highest median tax bill in Putney is $3,271 in the 05346 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 Putney Assessed Value
$191,900
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 Putney, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05346 | $84,680 | $137,600 | $191,900 | $275,400 | $378,300 |
Source: Ownwell
Property Tax Bills Across Putney, Vermont
In Putney, situated in Windham County, VT, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and condition. For instance, in Putney, the median home price is $191,900. Homeowners in the 25th percentile can expect an annual tax bill of around $1,649, while those in the 75th percentile might pay approximately $5,590. At the 90th percentile, tax bills can reach up to $8,382. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Comparing this to the national median property tax rate of 0.99%, homeowners in Putney might find their tax rates higher or lower depending on their property's assessed value and specific local tax rate.
Average Putney Tax Bill
$3,271
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Putney, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05346 | $644 | $1,649 | $3,271 | $5,590 | $8,382 |
Source: Ownwell