Danville, Vermont Property Taxes
The median property tax rate in Danville, VT is 2.28%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With a median home value of $209,100 in Danville, the typical annual property tax bill is $1,785, which is below the national median of $2,690. Property taxes in Danville are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Danville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Danville or another part of Caledonia County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Danville, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.28%
Estimate Property Tax Bill
$4,767
Ownwell’s DANVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DANVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DANVILLE 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 Danville, Vermont
Property taxes in Danville, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danville is 2.28%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Danville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danville 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 Danville's effective property tax rate to other areas in Vermont and the national median. For comparison, the 05828 zip code has both the highest and lowest median property tax rate of 2.28%. Understanding how these areas compare with Danville provides valuable insights into the varying tax landscape across Caledonia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danville Tax Rate
2.28%
Average Caledonia County Tax Rate
2.48%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05828 | 0.46% | 1.14% | 2.28% | 2.28% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Danville, Vermont
In Danville, 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 Caledonia 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. 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 Danville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Danville is $209,100, with tax bills ranging from $892 at the 25th percentile to $5,288 at the 90th percentile. The highest and lowest median tax bills are both $1,785 in the 05828 zip code.
Average Danville Assessed Value
$209,100
Average Caledonia County Assessed Value
$151,500
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05828 | $101,360 | $154,400 | $209,100 | $286,700 | $390,880 |
Source: Ownwell
Property Tax Bills Across Danville, Vermont
In Danville, VT, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the local tax assessor and reflects the property's worth for tax purposes. Homeowners in Danville can expect their tax bills to vary significantly, with the 25th percentile paying around $892 and the 90th percentile facing bills as high as $5,288. The median home price in Danville is approximately $209,100, which influences the tax bill directly. Several factors contribute to the final tax bill, including property size, location, and any applicable exemptions or abatements. The median property tax rate in Danville is notably higher than the national median of 0.99%, which can lead to substantial financial implications for homeowners. For instance, in the zip code 05828, the median tax bill stands at $1,785. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Danville Tax Bill
$1,785
Average Caledonia County Tax Bill
$3,630
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Danville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05828 | $357 | $892 | $1,785 | $3,974 | $5,288 |
Source: Ownwell