North Concord, Essex County, Vermont Property Taxes
The median property tax rate in North Concord, VT is 2.36%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in North Concord, the typical annual property tax bill reaches $3,071, exceeding the national median of $2,690. Property taxes in North Concord 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 North Concord'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 North Concord 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
North Concord, Essex County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.36%
Estimate Property Tax Bill
$2,931
$2,720
Ownwell’s North Concord Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Concord with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Concord 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 North Concord, Essex County, Vermont
Property taxes in North Concord, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Concord is 2.36%, significantly higher than the U.S. national median of 0.99%. Local government entities within North Concord set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Concord 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 North Concord's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05858 zip code has both the highest and lowest median property tax rate of 2.36%. Understanding how these cities compare with North Concord 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 North Concord Tax Rate
2.36%
Average Essex County Tax Rate
2.23%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Concord, Essex County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05858 | 2.35% | 2.36% | 2.36% | 2.36% | 2.36% |
Source: Ownwell
Property Tax Assessment Values Across North Concord, Essex County, Vermont
In North Concord, 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 North Concord, 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 North Concord helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,071 in zip code 05858.
Property Tax Assessment Values Across North Concord, Essex County, Vermont
Source: Ownwell
$39,000
$136,600
$234,200
Average North Concord Assessed Value
$124,200
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 North Concord, Essex County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05858 | $35,780 | $70,200 | $124,200 | $161,950 | $228,180 |
Source: Ownwell
Property Tax Bills Across North Concord, Essex County, Vermont
In North Concord, located in Essex County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in North Concord is $124,200. The assessed value is determined by the local tax assessor and is meant 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. For homeowners, this means the amount they owe in property taxes can vary significantly. For instance, tax bills in North Concord range from the 25th percentile at $2,204 to the 75th percentile at $3,612, and even up to the 90th percentile at $4,886. These figures highlight the variability in tax burdens based on property values and assessment accuracy. Compared to the national median property tax rate of 0.99%, North Concord's tax obligations can be relatively high, impacting homeowners' annual expenses and potentially influencing their decisions regarding property investments and homeownership.
Average North Concord Tax Bill
$3,071
Average Essex County Tax Bill
$2,384
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across North Concord, Essex County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05858 | $948 | $2,204 | $3,071 | $3,612 | $4,886 |
Source: Ownwell