Cavendish, Vermont Property Taxes
The median property tax rate in Cavendish, VT is 2.18%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With a median home value of $179,000 in Cavendish, the typical annual property tax bill reaches $3,823, far exceeding the national median of $2,690. Property taxes in Cavendish 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 Cavendish'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 Cavendish 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
Cavendish, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.18%
Estimate Property Tax Bill
$3,902
Ownwell’s Cavendish Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cavendish with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cavendish 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 Cavendish, Vermont
Property taxes in Cavendish, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cavendish is 2.18%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cavendish set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cavendish 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 Cavendish's effective property tax rate to other areas in Windsor County and the national median. For comparison, the 05142 zip code has the highest median property tax rate of 2.18%, while the same zip code also has the lowest median tax rate of 2.18%. Understanding how these areas compare with Cavendish 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 Cavendish Tax Rate
2.18%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cavendish, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05142 | 2.18% | 2.18% | 2.18% | 2.18% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Cavendish, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cavendish, Vermont. 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 local 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 Cavendish, 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. For instance, the median home price in Cavendish is $179,000, with property tax bills ranging from $2,586 at the 25th percentile to $7,711 at the 90th percentile. Notably, the highest and lowest median tax bills in the area are both $3,823, found in the 05142 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 Cavendish Assessed Value
$179,000
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 Cavendish, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05142 | $82,920 | $121,300 | $179,000 | $277,650 | $351,660 |
Source: Ownwell
Property Tax Bills Across Cavendish, Vermont
In Cavendish, Windsor County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the town's assessor, who evaluates the property to estimate its market value. This value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. Homeowners in Cavendish can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $2,586, while the 75th percentile tax bill can reach up to $5,874. At the 90th percentile, tax bills can be as high as $7,711. These figures highlight the range of property tax burdens homeowners might face, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Cavendish's property tax rates result in a notable financial responsibility for homeowners, impacting their overall cost of living and financial planning.
Average Cavendish Tax Bill
$3,823
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Cavendish, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05142 | $1,596 | $2,586 | $3,823 | $5,874 | $7,711 |
Source: Ownwell