Brandon, Vermont Property Taxes
The median property tax rate in Brandon, VT is 1.90%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Brandon, the typical annual property tax bill reaches $6,029, exceeding the national median of $2,690. Property taxes in Brandon 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 Brandon'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 Brandon 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
Brandon, Vermont Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$4,220
Ownwell’s Brandon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brandon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brandon 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 Addison County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Brandon, Vermont
Property taxes in Brandon, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brandon is 1.90%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Brandon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brandon 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 Brandon's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05733 has both the highest and lowest median property tax rate of 1.90%, illustrating the uniformity in property tax rates within this region. Understanding how these cities compare with Brandon provides valuable insights into the varying tax landscape across Addison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brandon Tax Rate
1.90%
Average Addison County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brandon, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Brandon, Vermont
In Brandon, 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 Addison 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 Brandon, 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 Brandon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Brandon is $271,350, with the highest and lowest median tax bill both being $6,029 in zip code 05733.
Average Brandon Assessed Value
$271,350
Average Addison County Assessed Value
$233,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brandon, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | $67,340 | $193,100 | $271,350 | $433,200 | $530,560 |
Source: Ownwell
Property Tax Bills Across Brandon, Vermont
Property tax bills in Brandon, VT, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value, which is periodically updated to reflect changes in the real estate market. Factors such as property size, location, and condition play a crucial role in determining this value. In Brandon, the median home price is $271,350, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $4,123, while at the 75th percentile, it reaches $8,680. At the 90th percentile, homeowners might see a tax bill as high as $10,792. The highest and lowest median tax bills in the area both stand at $6,029, highlighting a consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Brandon's property taxes reflect the local government's need to fund public services and infrastructure. Homeowners should be aware of these factors to budget effectively and understand the financial implications of owning property in this area.
Average Brandon Tax Bill
$6,029
Average Addison County Tax Bill
$5,451
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Brandon, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | $2,368 | $4,123 | $6,029 | $8,680 | $10,792 |
Source: Ownwell