Barnard, Vermont Property Taxes
The median property tax rate in Barnard, VT is 2.15%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Barnard at $306,400, the typical annual property tax bill reaches $6,617, significantly exceeding the national median of $2,690. Property taxes in Barnard 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 Barnard'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 Barnard or another part of Windsor County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barnard, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.15%
Estimate Property Tax Bill
$6,588
Ownwell’s Barnard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barnard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barnard 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 Barnard, Vermont
Property taxes in Barnard, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barnard is 1.83%, significantly higher than both the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within Barnard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barnard 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 Barnard's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05031 zip code has the highest median property tax rate of 2.15%, while the same zip code also has the lowest median tax rate of 2.15%. Understanding how these cities compare with Barnard provides valuable insights into the varying tax landscape across Windsor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barnard Tax Rate
2.15%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barnard, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05031 | 2.15% | 2.15% | 2.15% | 2.15% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Barnard, Vermont
In Barnard, 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 Windsor 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 Barnard, 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 Barnard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Barnard are both $6,617, found in the zip code 05031.
Average Barnard Assessed Value
$306,400
Average Windsor County Assessed Value
$205,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barnard, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05031 | $56,160 | $178,825 | $306,400 | $452,475 | $744,380 |
Source: Ownwell
Property Tax Bills Across Barnard, Vermont
In Barnard, located in Windsor County, VT, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors that influence the assessed value include the property's market value, its condition, location, and any improvements or renovations made. For homeowners in Barnard, the median home price is $306,400. The property tax bills can vary widely; for instance, the 25th percentile tax bill is $3,914, while the 75th percentile reaches $9,757, and the 90th percentile can be as high as $16,042. This range indicates that property taxes can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area are both $6,617, reflecting a specific zip code (05031). Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Barnard Tax Bill
$6,617
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Barnard, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05031 | $1,203 | $3,914 | $6,617 | $9,757 | $16,042 |
Source: Ownwell