Hardwick, Vermont Property Taxes
The median property tax rate in Hardwick, VT is 2.99%, significantly higher than both the national median of 0.99% and Vermont's state median of 2.11%. With the median home value in Hardwick at $113,800, the typical annual property tax bill reaches $3,329, surpassing the national median of $2,690. Property taxes in Hardwick are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding 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 Hardwick or another part of Caledonia County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hardwick, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.99%
Estimate Property Tax Bill
$3,403
Ownwell’s Hardwick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hardwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in 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 Hardwick, Vermont
Property taxes in 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 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 Hardwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, 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 Hardwick's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05843 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 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 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 Hardwick, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05843 | 2.99% | 2.99% | 2.99% | 2.99% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Hardwick, Vermont
In 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 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 in Hardwick 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 Hardwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 05843, both at $3,329.
Average Hardwick Assessed Value
$113,800
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 Hardwick, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05843 | $44,990 | $77,650 | $113,800 | $165,475 | $224,500 |
Source: Ownwell
Property Tax Bills Across Hardwick, Vermont
In Hardwick, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local assessors who evaluate the property's market value. The property tax rate in Hardwick is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax amount, including the property's location, size, and any applicable exemptions or deductions. For instance, the median home price in Hardwick is $113,800. Property tax bills in the 25th percentile are around $2,298, while those in the 75th percentile can reach up to $4,758. The highest tax bills, in the 90th percentile, can go as high as $6,579. This variability significantly impacts homeowners, especially when compared to the national median property tax rate of 0.99%. Homeowners in Hardwick may find their tax bills higher than the national average, depending on their property's assessed value and specific circumstances. This makes understanding local property tax assessments crucial for effective financial planning.
Average Hardwick Tax Bill
$3,329
Average Caledonia County Tax Bill
$3,630
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Hardwick, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05843 | $1,224 | $2,298 | $3,329 | $4,758 | $6,579 |
Source: Ownwell