Greensboro Bend, Caledonia County, Vermont Property Taxes
The median property tax rate in Greensboro Bend, 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 $115,800 in Greensboro Bend, the typical annual property tax bill reaches $3,046, surpassing the national median of $2,690. Property taxes in Greensboro Bend 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 Greensboro Bend'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 Greensboro Bend 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
Greensboro Bend, Caledonia County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.28%
Estimate Property Tax Bill
$2,640
$2,450
Ownwell’s Greensboro Bend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greensboro Bend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greensboro Bend 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 Greensboro Bend, Caledonia County, Vermont
Property taxes in Greensboro Bend, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greensboro Bend is 1.73%, significantly higher than both the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within Greensboro Bend set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greensboro Bend 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 Greensboro Bend's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05842 has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Greensboro Bend 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 Greensboro Bend 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 Greensboro Bend, Caledonia County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05842 | 2.28% | 2.28% | 2.28% | 2.46% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Greensboro Bend, Caledonia County, Vermont
In Greensboro Bend, 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 local appraisal authorities 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 Greensboro Bend, 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 Greensboro Bend helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 05842 has the highest median tax bill at $3,046, which is a significant figure to consider for local homeowners.
Property Tax Assessment Values Across Greensboro Bend, Caledonia County, Vermont
Source: Ownwell
$63,600
$165,900
$268,200
Average Greensboro Bend Assessed Value
$115,800
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 Greensboro Bend, Caledonia County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05842 | $50,480 | $67,375 | $115,800 | $165,900 | $260,210 |
Source: Ownwell
Property Tax Bills Across Greensboro Bend, Caledonia County, Vermont
In Greensboro Bend, located in Caledonia 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 and reflects the market value of the property. Homeowners then multiply this assessed value by the local tax rate to determine their annual tax bill. For example, the median home price in Greensboro Bend is $115,800. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. The tax bill can vary significantly, with homeowners in the 25th percentile paying around $1,536, while those in the 75th percentile face bills as high as $4,339. At the 90th percentile, tax bills can reach up to $6,612. Compared to the national median property tax rate of 0.99%, homeowners in Greensboro Bend may find their tax rates to be relatively high, impacting their overall cost of homeownership and potentially influencing their decisions on property investments.
Property Tax Bills Across Greensboro Bend, Caledonia County, Vermont
Source: Ownwell
$1,512
$10,944
$20,375
Average Greensboro Bend Tax Bill
$3,046
Average Caledonia County Tax Bill
$3,630
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Greensboro Bend, Caledonia County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05842 | $1,024 | $1,536 | $3,046 | $4,339 | $6,612 |
Source: Ownwell