Wardsboro, Vermont Property Taxes
The median property tax rate in Wardsboro, VT is 2.01%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Wardsboro at $160,575, the typical annual property tax bill reaches $2,718, slightly below the national median of $2,690. Property taxes in Wardsboro 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 Wardsboro'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 Wardsboro 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
Wardsboro, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.01%
Estimate Property Tax Bill
$3,228
Ownwell’s Wardsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wardsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wardsboro 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 Wardsboro, Vermont
Property taxes in Wardsboro, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wardsboro is 1.86%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wardsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wardsboro 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 Wardsboro's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05355 zip code has the highest median property tax rate of 1.86%, while the same zip code also has the lowest median tax rate of 1.86%. Understanding how these cities compare with Wardsboro 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 Wardsboro Tax Rate
2.01%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wardsboro, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05355 | 1.10% | 1.70% | 2.01% | 2.26% | 5.25% |
Source: Ownwell
Property Tax Assessment Values Across Wardsboro, Vermont
In Wardsboro, 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 Wardsboro, 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. The median home price in Wardsboro is $160,575, with tax bills ranging from $1,384 at the 25th percentile to $6,190 at the 90th percentile. The highest and lowest median tax bills are both $2,718, found in the 05355 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wardsboro Assessed Value
$160,575
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 Wardsboro, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05355 | $49,070 | $111,975 | $160,575 | $221,825 | $334,218 |
Source: Ownwell
Property Tax Bills Across Wardsboro, Vermont
In Wardsboro, located in Windham County, VT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government officials and reflects the market value of the property. This value, combined with the local tax rate, determines the annual property tax bill for homeowners. Several factors influence the assessed value, including the property's location, size, and condition. For instance, the median home price in Wardsboro is $160,575. Property tax bills can vary significantly, with the 25th percentile bill at $1,384 and the 75th percentile bill at $4,482. At the 90th percentile, homeowners might pay as much as $6,190 annually. The local tax rate in Wardsboro is higher than the national median property tax rate of 0.99%, impacting homeowners by increasing their annual expenses. This can affect household budgets and the overall cost of owning a home in the area. Understanding these factors can help homeowners anticipate and plan for their property tax obligations.
Average Wardsboro Tax Bill
$2,718
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Wardsboro, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05355 | $1,186 | $1,384 | $2,718 | $4,482 | $6,190 |
Source: Ownwell