West Burke, Vermont Property Taxes
The median property tax rate in West Burke, VT is 2.48%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in West Burke at $156,100, the typical annual property tax bill reaches $4,077, exceeding the national median of $2,690. Property taxes in West Burke 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 West Burke'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 West Burke 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
West Burke, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.48%
Estimate Property Tax Bill
$3,871
Ownwell’s West Burke Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Burke with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Burke 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 West Burke, Vermont
Property taxes in West Burke, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Burke is 2.48%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within West Burke set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Burke 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 West Burke's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05871 has the highest median property tax rate of 2.48%, while the same zip code also has the lowest median tax rate of 2.48%. Understanding how these areas compare with West Burke 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 West Burke Tax Rate
2.48%
Average Caledonia County Tax Rate
2.48%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Burke, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05871 | 2.48% | 2.48% | 2.48% | 2.48% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across West Burke, Vermont
In West Burke, 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. In West Burke, 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 West Burke helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in West Burke is $4,077 in zip code 05871, while the lowest median tax bill is also $4,077 in the same zip code.
Average West Burke Assessed Value
$156,100
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 West Burke, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05871 | $64,100 | $99,900 | $156,100 | $221,600 | $319,760 |
Source: Ownwell
Property Tax Bills Across West Burke, Vermont
In West Burke, VT, property tax bills are calculated based on the assessed value of a home, which is determined by the Caledonia County tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, a median home price in West Burke is $156,100. Homeowners in the 25th percentile of tax bills can expect to pay around $2,760 annually, while those in the 75th percentile might see bills as high as $5,592. At the 90th percentile, the tax bill can reach $8,300. Several factors influence the assessed value, including the property's market value, location, and any improvements made to the home. This system ensures that property taxes are proportionate to the value of the property, which can significantly impact homeowners. Compared to the national median property tax rate of 0.99%, West Burke's property tax rates can be relatively high, reflecting the local government's funding needs and public service provisions.
Average West Burke Tax Bill
$4,077
Average Caledonia County Tax Bill
$3,630
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across West Burke, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05871 | $1,857 | $2,760 | $4,077 | $5,592 | $8,300 |
Source: Ownwell