Marshfield, Vermont Property Taxes
The median property tax rate in Marshfield, VT is 2.15%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Marshfield at $268,200, the typical annual property tax bill reaches $5,764, far exceeding the national median of $2,690. Property taxes in Marshfield 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 Marshfield'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 Marshfield 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
Marshfield, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.15%
Estimate Property Tax Bill
$5,766
Ownwell’s Marshfield Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Marshfield. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Marshfield to provide an accurate estimate of your property tax bill. This valuable resource helps you anticipate potential tax liabilities with ease. For those interested in more detailed insights, including neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Marshfield, Vermont
Property taxes in Marshfield, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshfield is 2.15%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Marshfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshfield 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 Marshfield's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05658 has the highest median property tax rate of 2.15%, while the lowest median tax rate is also 2.15% in the same zip code. Understanding how these cities compare with Marshfield 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 Marshfield Tax Rate
2.15%
Average Caledonia County Tax Rate
2.48%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05658 | 2.15% | 2.15% | 2.15% | 2.15% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Marshfield, Vermont
In Marshfield, 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 Marshfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 05658 has the highest and lowest median tax bill, both at $5,764.
Average Marshfield Assessed Value
$268,200
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 Marshfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05658 | $164,110 | $189,350 | $268,200 | $394,675 | $431,300 |
Source: Ownwell
Property Tax Bills Across Marshfield, Vermont
In Marshfield, 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 is intended to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the size of the property, its location, and any improvements or renovations made. Homeowners in Marshfield can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $4,069, while at the 75th percentile, it rises to $8,482. At the 90th percentile, some homeowners may see tax bills as high as $9,268. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Marshfield's taxes can be a significant financial consideration for homeowners, impacting their overall cost of living and home affordability.
Average Marshfield Tax Bill
$5,764
Average Caledonia County Tax Bill
$3,630
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshfield, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05658 | $3,527 | $4,069 | $5,764 | $8,482 | $9,268 |
Source: Ownwell