Stratton, Vermont Property Taxes
The median property tax rate in Stratton, VT is 1.80%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Stratton at $319,100, the typical annual property tax bill reaches $5,625, exceeding the national median of $2,690. Property taxes in Stratton 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 Stratton'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 Stratton 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
Stratton, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$5,744
Ownwell’s Stratton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stratton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stratton 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 Windham County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Stratton, Vermont
Property taxes in Stratton, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stratton is 1.80%, significantly higher than the U.S. national median of 0.99%. Local government entities within Stratton set these rates annually, and they can vary across different neighborhoods. Each year, Stratton 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 Stratton's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05360 zip code has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these cities compare with Stratton 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 Stratton Tax Rate
1.80%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stratton, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05360 | 1.70% | 1.80% | 1.80% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Stratton, Vermont
In Stratton, 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 Stratton, 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 Stratton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $5,625 in zip code 05360, while the lowest median tax bill is also $5,625 in the same zip code.
Average Stratton Assessed Value
$319,100
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 Stratton, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05360 | $147,320 | $193,400 | $319,100 | $598,000 | $1,091,600 |
Source: Ownwell
Property Tax Bills Across Stratton, Vermont
In Stratton, Windham County, VT, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $319,100, homeowners can expect varying tax bills. The tax bill at the 25th percentile is $3,454, while it rises significantly to $10,517 at the 75th percentile and even higher to $19,616 at the 90th percentile. The highest and lowest median tax bill in Stratton is $5,625, which is notably higher than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by influencing their overall housing costs and affordability. Understanding these factors is crucial for homeowners when budgeting for annual expenses and planning long-term financial commitments.
Average Stratton Tax Bill
$5,625
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Stratton, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05360 | $2,595 | $3,454 | $5,625 | $10,517 | $19,616 |
Source: Ownwell