White River Junction, Vermont Property Taxes
The median property tax rate in White River Junction, VT is 2.65%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in White River Junction, the typical annual property tax bill reaches $4,283, exceeding the national median of $2,690. Property taxes in White River Junction 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 White River Junction'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 White River Junction 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
White River Junction, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$4,942
Ownwell’s White River Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in White River Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in White River Junction 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 Windsor County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across White River Junction, Vermont
Property taxes in White River Junction, Vermont, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in White River Junction is 1.86%, notably higher than the U.S. national median of 0.99%. Local government entities within White River Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, White River Junction 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 White River Junction's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05001 has the highest median property tax rate of 1.86%, while the lowest median tax rate is also 1.86% in the same zip code. Understanding how these cities compare with White River Junction 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 White River Junction Tax Rate
2.65%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across White River Junction, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05001 | 1.53% | 2.25% | 2.65% | 2.76% | 2.76% |
Source: Ownwell
Property Tax Assessment Values Across White River Junction, Vermont
In White River Junction, 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 local appraisal authorities 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 White River Junction, 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 White River Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $186,500, with the highest median tax bill in zip code 05001 being $4,283 and the lowest also being $4,283.
Property Tax Assessment Values Across White River Junction, Vermont
Source: Ownwell
$52,800
$511,925
$971,050
Average White River Junction Assessed Value
$186,500
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 White River Junction, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05001 | $59,600 | $125,200 | $186,500 | $245,850 | $311,500 |
Source: Ownwell
Property Tax Bills Across White River Junction, Vermont
In White River Junction, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessor and reflects a percentage of the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in White River Junction, the median home price is $186,500, which serves as a baseline for calculating property taxes. The tax bill can vary significantly, with the 25th percentile at $2,774 and the 75th percentile reaching $6,056. The top 10% of tax bills go as high as $8,055. These property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, homeowners in White River Junction may find their tax bills to be higher or lower depending on the specific assessed value of their property and the local tax rate. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly.
Average White River Junction Tax Bill
$4,283
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across White River Junction, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05001 | $1,032 | $2,774 | $4,283 | $6,056 | $8,055 |
Source: Ownwell