Guildhall, Vermont Property Taxes
The median property tax rate in Guildhall, VT is 1.96%, considerably higher than both the national median of 0.99% and Vermont's state median of 2.11%. With the median home value in Guildhall, the typical annual property tax bill reaches $1,535, exceeding the national median of $2,690. Property taxes in Guildhall 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 Guildhall'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 Guildhall 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
Guildhall, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$3,018
Ownwell’s Guildhall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guildhall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guildhall 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 Guildhall, Vermont
Property taxes in Guildhall, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guildhall is 1.96%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Guildhall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guildhall 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 Guildhall's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05905 has the highest median property tax rate of 1.96%, while the same zip code also has the lowest median tax rate of 1.96%. Understanding how these cities compare with Guildhall provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Guildhall Tax Rate
1.96%
Average Essex County Tax Rate
2.23%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guildhall, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05905 | 1.73% | 1.96% | 1.96% | 1.96% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Guildhall, Vermont
In Guildhall, 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 Essex 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 Guildhall, 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 Guildhall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $154,000, with tax bills ranging from $454 at the 25th percentile to $4,007 at the 90th percentile. The zip code 05905 has both the highest and lowest median tax bill of $1,535.
Average Guildhall Assessed Value
$154,000
Average Essex County Assessed Value
$115,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Guildhall, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05905 | $19,350 | $70,700 | $154,000 | $219,175 | $300,150 |
Source: Ownwell
Property Tax Bills Across Guildhall, Vermont
In Guildhall, Essex County, VT, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and represents a percentage of the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $154,000, homeowners can expect their tax bills to vary significantly. Factors such as property size, location, and improvements can influence the assessed value. In Guildhall, tax bills range widely, with the 25th percentile at $454 and the 75th percentile reaching $2,548, while the 90th percentile can go up to $4,007. This variation highlights the impact of differing property values and local tax rates on homeowners' finances. Understanding these factors is crucial for homeowners to anticipate their property tax obligations and manage their budgets effectively.
Average Guildhall Tax Bill
$1,535
Average Essex County Tax Bill
$2,384
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Guildhall, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05905 | $267 | $454 | $1,535 | $2,548 | $4,007 |
Source: Ownwell