Bridgewater Corners, Vermont Property Taxes
The median property tax rate in Bridgewater Corners, VT is 2.19%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Bridgewater Corners, the typical annual property tax bill reaches $3,336, exceeding the national median of $2,690. Property taxes in Bridgewater Corners 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 Bridgewater Corners' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bridgewater Corners 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
Bridgewater Corners, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.19%
Estimate Property Tax Bill
$3,333
Ownwell’s Bridgewater Corners Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bridgewater Corners with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bridgewater Corners 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 Bridgewater Corners, Vermont
Property taxes in Bridgewater Corners, Vermont, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgewater Corners is 2.19%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bridgewater Corners set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgewater Corners 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 Bridgewater Corners' effective property tax rate to other areas in Windsor County and the national median. For comparison, the zip code 05035 has both the highest and lowest median property tax rate of 2.19%. Understanding how these areas compare with Bridgewater Corners 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 Bridgewater Corners Tax Rate
2.19%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgewater Corners, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05035 | 2.19% | 2.19% | 2.19% | 2.19% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Bridgewater Corners, Vermont
In Bridgewater Corners, 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 Bridgewater Corners, 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 Bridgewater Corners helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 05035, with a median tax bill of $3,336.
Property Tax Assessment Values Across Bridgewater Corners, Vermont
Source: Ownwell
$52,800
$511,925
$971,050
Average Bridgewater Corners Assessed Value
$152,200
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 Bridgewater Corners, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05035 | $69,020 | $102,850 | $152,200 | $233,700 | $344,560 |
Source: Ownwell
Property Tax Bills Across Bridgewater Corners, Vermont
In Bridgewater Corners, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessment reflects the market value of the property, and the tax rate is applied to this assessed value. The median home price in this area is $152,200, and tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $2,254, while those in the 75th percentile face tax bills of approximately $5,192. At the higher end, the 90th percentile tax bill reaches up to $7,553. These figures are notably higher than the national median property tax rate of 0.99%. Various factors influence these tax bills, including property size, location, and local government budgets. For homeowners, this means that property taxes can represent a substantial annual expense, impacting overall affordability and financial planning. Understanding how these taxes are calculated helps homeowners anticipate their financial obligations and plan accordingly.
Average Bridgewater Corners Tax Bill
$3,336
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgewater Corners, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05035 | $1,513 | $2,254 | $3,336 | $5,192 | $7,553 |
Source: Ownwell