Sunderland, Vermont Property Taxes
The median property tax rate in Sunderland, VT is 1.42%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Sunderland at $299,900, the typical annual property tax bill reaches $2,700, close to the national median of $2,690. Property taxes in Sunderland 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 Sunderland'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 Sunderland 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
Sunderland, 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 Sunderland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sunderland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sunderland 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 Sunderland, Vermont
Property taxes in Sunderland, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sunderland is 1.42%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Sunderland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sunderland 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 Sunderland's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05250 zip code has the highest median property tax rate of 1.42%, while the lowest median tax rate in the same zip code is also 1.42%. Understanding how these cities compare with Sunderland provides valuable insights into the varying tax landscape across Bennington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sunderland Tax Rate
1.42%
Average Bennington County Tax Rate
2.14%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sunderland, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05250 | 0.49% | 0.84% | 1.42% | 1.46% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Sunderland, Vermont
In Sunderland, 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 Bennington 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. 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. In Sunderland, the median home price is $299,900, with tax bills ranging from $1,917 at the 25th percentile to $4,202 at the 90th percentile. The highest and lowest median tax bills both stand at $2,700 in the 05250 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sunderland Assessed Value
$299,900
Average Bennington County Assessed Value
$189,500
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sunderland, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05250 | $198,010 | $270,250 | $299,900 | $311,775 | $367,890 |
Source: Ownwell
Property Tax Bills Across Sunderland, Vermont
In Sunderland, Vermont, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Sunderland is $299,900. To determine the tax bill, the assessed value is multiplied by the local tax rate. Homeowners in Sunderland can expect tax bills to vary significantly depending on the value of their property. For instance, the 25th percentile tax bill is $1,917, while the 75th percentile tax bill reaches $3,638, and the 90th percentile tax bill can go up to $4,202. These figures indicate that Sunderland's property tax rates can result in higher tax bills compared to the national median property tax rate of 0.99%. Factors such as local government budgets, school funding requirements, and public services influence the tax rate. Consequently, homeowners must consider these taxes when budgeting for homeownership, as they can significantly impact annual expenses. Understanding these elements is crucial for anyone looking to buy a home in Sunderland.
Average Sunderland Tax Bill
$2,700
Average Bennington County Tax Bill
$4,152
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Sunderland, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05250 | $1,448 | $1,917 | $2,700 | $3,638 | $4,202 |
Source: Ownwell