Ferrisburgh, Vermont Property Taxes
The median property tax rate in Ferrisburgh, VT is 1.88%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Ferrisburgh at $280,500, the typical annual property tax bill reaches $5,288, exceeding the national median of $2,690. Property taxes in Ferrisburgh 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 Ferrisburgh'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 Ferrisburgh 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
Ferrisburgh, 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 Ferrisburgh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferrisburgh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferrisburgh 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 Ferrisburgh, Vermont
Property taxes in Ferrisburgh, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferrisburgh is 1.88%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ferrisburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferrisburgh 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 Ferrisburgh's effective property tax rate to other areas in Vermont and the national median. For comparison, the 05456 zip code has the highest median property tax rate of 1.88%, while the same zip code also has the lowest median tax rate of 1.88%. Understanding how these figures compare with Ferrisburgh 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 Ferrisburgh Tax Rate
1.88%
Average Addison County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferrisburgh, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05456 | 1.88% | 1.88% | 1.88% | 1.88% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Ferrisburgh, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ferrisburgh, 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 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 Ferrisburgh, 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 example, the median home price in Ferrisburgh is $280,500, with tax bills ranging from $3,992 at the 25th percentile to $8,972 at the 90th percentile. Notably, the zip code 05456 has both the highest and lowest median tax bill, which stands at $5,288. 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 Ferrisburgh Assessed Value
$280,500
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 Ferrisburgh, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05456 | $147,020 | $212,100 | $280,500 | $378,700 | $478,500 |
Source: Ownwell
Property Tax Bills Across Ferrisburgh, Vermont
In Ferrisburgh, VT, located in Addison County, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the size, age, and condition of the property, as well as its location and market trends. Homeowners in Ferrisburgh can expect varying tax bills depending on these assessments. For instance, the 25th percentile tax bill is $3,992, while the 75th percentile reaches $7,132, and the 90th percentile can go up to $8,972. These figures highlight a significant range in tax obligations, reflecting the diversity in property values within the area. Compared to the national median property tax rate of 0.99%, homeowners in Ferrisburgh may find their tax rates to be relatively higher or lower, impacting their overall financial planning and homeownership costs. Understanding these factors is crucial for homeowners to anticipate their annual property tax expenses accurately.
Average Ferrisburgh Tax Bill
$5,288
Average Addison County Tax Bill
$5,451
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferrisburgh, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05456 | $2,765 | $3,992 | $5,288 | $7,132 | $8,972 |
Source: Ownwell