Lincoln, Vermont Property Taxes
The median property tax rate in Lincoln, VT is 2.24%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Lincoln, the typical annual property tax bill reaches $5,438, exceeding the national median of $2,690. Property taxes in Lincoln 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 Lincoln'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 Lincoln 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
Lincoln, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.24%
Estimate Property Tax Bill
$5,453
Ownwell’s Lincoln Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a quick way to estimate annual property taxes in Lincoln. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Lincoln to provide an accurate estimate of your property tax bill. This valuable tool helps you gauge potential tax liabilities with ease. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value, determined by Addison County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Lincoln, Vermont
Property taxes in Lincoln, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln is 1.59%, higher than both the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within Lincoln set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincoln 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 Lincoln's effective property tax rate to other counties in Vermont and the national median. For comparison, the ZIP code 05443 has the highest median property tax rate of 1.59%, while the ZIP code 05443 has the lowest median tax rate of 1.59%. Understanding how these cities compare with Lincoln 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 Lincoln Tax Rate
2.24%
Average Addison County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05443 | 2.24% | 2.24% | 2.24% | 2.24% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln, Vermont
In Lincoln, 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 Lincoln, 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. The median home price in Lincoln is $243,450, with annual tax bills ranging from $3,892 at the 25th percentile to $9,684 at the 90th percentile. 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 Lincoln helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lincoln Assessed Value
$243,450
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 Lincoln, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05443 | $125,250 | $174,050 | $243,450 | $321,400 | $432,900 |
Source: Ownwell
Property Tax Bills Across Lincoln, Vermont
In Lincoln, Addison 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, reflecting the property's market value. To calculate the tax bill, this assessed value is multiplied by the local tax rate, which can vary annually based on budgetary needs and voter-approved measures. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Lincoln can expect tax bills that range significantly. For instance, the 25th percentile tax bill is $3,892, while the 75th percentile reaches $7,176. The 90th percentile tax bill can be as high as $9,684. These property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Lincoln’s property taxes reflect the town's commitment to maintaining high-quality public services.
Average Lincoln Tax Bill
$5,438
Average Addison County Tax Bill
$5,451
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05443 | $2,796 | $3,892 | $5,438 | $7,176 | $9,684 |
Source: Ownwell