East Hardwick, Vermont Property Taxes
The median property tax rate in East Hardwick, VT is 2.99%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in East Hardwick, the typical annual property tax bill reaches $4,280, exceeding the national median of $2,690. Property taxes in East Hardwick 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 East Hardwick'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 East Hardwick 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
East Hardwick, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.99%
Estimate Property Tax Bill
$4,684
Ownwell’s East Hardwick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Hardwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Hardwick 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 East Hardwick, Vermont
Property taxes in East Hardwick, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Hardwick is 2.99%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within East Hardwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Hardwick 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 East Hardwick's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05836 zip code has the highest median property tax rate of 2.99%, while the same zip code also has the lowest median tax rate of 2.99%. Understanding how these cities compare with East Hardwick 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 East Hardwick Tax Rate
2.99%
Average Caledonia County Tax Rate
2.48%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Hardwick, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05836 | 2.99% | 2.99% | 2.99% | 2.99% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across East Hardwick, Vermont
In East Hardwick, 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 local 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 East Hardwick, 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 East Hardwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in East Hardwick are both $4,280, found in the 05836 zip code.
Average East Hardwick Assessed Value
$156,650
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 East Hardwick, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05836 | $58,370 | $96,000 | $156,650 | $222,850 | $304,170 |
Source: Ownwell
Property Tax Bills Across East Hardwick, Vermont
In East Hardwick, VT, 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 home's size, age, location, and any improvements or renovations made. For homeowners in East Hardwick, the median home price is $156,650. The property tax bills can vary significantly, with the 25th percentile at $2,602 and the 75th percentile at $6,215, reflecting the range of property values in the area. At the higher end, the 90th percentile tax bill reaches $7,917. These property taxes fund essential community services such as schools, public safety, and infrastructure maintenance. Homeowners in East Hardwick experience a property tax rate that can be compared to the national median of 0.99%, impacting their overall cost of homeownership and influencing their financial planning.
Average East Hardwick Tax Bill
$4,280
Average Caledonia County Tax Bill
$3,630
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across East Hardwick, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05836 | $1,345 | $2,602 | $4,280 | $6,215 | $7,917 |
Source: Ownwell