Franklin County Property Taxes
The median property tax rate in Franklin County is 2.01%, which is significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Franklin County at $195,300, the typical annual property tax bill reaches $2,567, which is still below the national median of $2,690. Property taxes in Franklin County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Franklin County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in St. Albans or another part of Franklin County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Franklin County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.01%
Estimate Property Tax Bill
$3,926
Ownwell’s Franklin County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Franklin County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Franklin County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Franklin County, Vermont
Property taxes in Franklin play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Franklin is 2.01%, which is higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Franklin set these rates annually, and they can vary significantly between different areas within the county. Each year, Franklin estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Fairfield has one of the higher property tax rates in Vermont at 2.48%, while the city of Fairfax boasts one of the lowest at 0.49%. Analyzing how Franklin's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Franklin County Tax Rate
2.01%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Franklin County, Vermont
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bakersfield | 2.26% | 2.26% | 2.26% | 2.26% | 2.26% |
| Cambridge | N/A | N/A | N/A | N/A | N/A |
| East Berkshire | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% |
| East Fairfield | 2.26% | 2.26% | 2.29% | 2.48% | 2.48% |
| Enosburg Falls | 2.03% | 2.04% | 2.04% | 2.26% | 2.26% |
| Fairfax | 0.13% | 0.36% | 0.49% | 0.55% | 0.63% |
| Fairfield | 2.01% | 2.48% | 2.48% | 2.48% | 2.48% |
| Franklin | 2.01% | 2.03% | 2.03% | 2.03% | 2.04% |
| Highgate | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% |
| Highgate Center | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% |
| Highgate Springs | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% |
| Jeffersonville | N/A | N/A | N/A | N/A | N/A |
| Milton | N/A | N/A | N/A | N/A | N/A |
| Montgomery | N/A | N/A | N/A | N/A | N/A |
| Montgomery Center | N/A | N/A | N/A | N/A | N/A |
| Richford | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% |
| Saint Albans | N/A | N/A | N/A | N/A | N/A |
| Saint Albans Bay | N/A | N/A | N/A | N/A | N/A |
| Sheldon | 2.01% | 2.11% | 2.11% | 2.11% | 2.11% |
| Swanton | 0.51% | 2.01% | 2.01% | 2.01% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Franklin County, Vermont
In Franklin County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Franklin County Appraisal District. The assessed value, however, 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 Franklin County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Franklin County, the highest median tax bill is found in Highgate Springs at $7,889, while the lowest is in Fairfax at $1,413. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Franklin County, Vermont
Source: Ownwell
$130,000
$260,850
$391,700
Average Franklin County Assessed Value
$195,300
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Franklin County, Vermont
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bakersfield | $65,430 | $122,425 | $167,400 | $218,875 | $290,520 |
| Cambridge | N/A | N/A | N/A | N/A | N/A |
| East Berkshire | $80,940 | $113,600 | $151,800 | $243,150 | $402,660 |
| East Fairfield | $95,480 | $136,350 | $186,800 | $240,690 | $300,300 |
| Enosburg Falls | $78,030 | $125,600 | $169,600 | $233,400 | $314,335 |
| Fairfax | $190,120 | $245,600 | $311,100 | $381,100 | $468,160 |
| Fairfield | $66,360 | $135,875 | $205,250 | $276,180 | $361,400 |
| Franklin | $54,290 | $104,175 | $153,250 | $223,000 | $303,870 |
| Highgate | $77,400 | $101,300 | $144,800 | $241,600 | $307,740 |
| Highgate Center | $87,740 | $143,850 | $182,700 | $233,125 | $299,860 |
| Highgate Springs | $391,700 | $391,700 | $391,700 | $391,700 | $391,700 |
| Jeffersonville | N/A | N/A | N/A | N/A | N/A |
| Milton | N/A | N/A | N/A | N/A | N/A |
| Montgomery | N/A | N/A | N/A | N/A | N/A |
| Montgomery Center | N/A | N/A | N/A | N/A | N/A |
| Richford | $63,300 | $94,000 | $130,000 | $181,500 | $269,300 |
| Saint Albans | N/A | N/A | N/A | N/A | N/A |
| Saint Albans Bay | N/A | N/A | N/A | N/A | N/A |
| Sheldon | $99,700 | $141,050 | $182,500 | $244,900 | $308,200 |
| Swanton | $97,080 | $153,000 | $195,400 | $271,300 | $352,420 |
Source: Ownwell
Property Tax Bills Across Franklin County, Vermont
In Franklin County, VT, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For example, the median home price in Franklin County stands at $195,300, and the tax bills can vary widely. Homeowners in the 25th percentile pay around $1,005, while those in the 75th percentile pay approximately $4,251. The top 10% of tax bills can reach up to $5,903. The highest median tax bill in the county is in Highgate Springs at $7,889, whereas Fairfax has the lowest median tax bill at $1,413. Compared to the national median property tax rate of 0.99%, Franklin County's tax bills reflect a significant range, affecting homeowners differently based on their property's assessed value and location.
Average Franklin County Tax Bill
$2,567
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Franklin County, Vermont
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bakersfield | $1,468 | $2,830 | $3,786 | $4,937 | $6,573 |
| Cambridge | N/A | N/A | N/A | N/A | N/A |
| East Berkshire | $1,476 | $2,199 | $2,712 | $3,418 | $6,333 |
| East Fairfield | $2,503 | $3,200 | $4,099 | $5,506 | $7,019 |
| Enosburg Falls | $2,037 | $2,992 | $4,199 | $5,530 | $7,554 |
| Fairfax | $336 | $990 | $1,413 | $1,955 | $2,399 |
| Fairfield | $1,314 | $2,833 | $4,572 | $6,422 | $8,173 |
| Franklin | $1,166 | $2,160 | $3,111 | $4,518 | $6,194 |
| Highgate | $1,559 | $2,040 | $2,916 | $4,866 | $6,198 |
| Highgate Center | $1,747 | $2,875 | $3,666 | $4,678 | $5,892 |
| Highgate Springs | $7,889 | $7,889 | $7,889 | $7,889 | $7,889 |
| Jeffersonville | N/A | N/A | N/A | N/A | N/A |
| Milton | N/A | N/A | N/A | N/A | N/A |
| Montgomery | N/A | N/A | N/A | N/A | N/A |
| Montgomery Center | N/A | N/A | N/A | N/A | N/A |
| Richford | $1,727 | $2,470 | $3,230 | $4,760 | $6,711 |
| Saint Albans | N/A | N/A | N/A | N/A | N/A |
| Saint Albans Bay | N/A | N/A | N/A | N/A | N/A |
| Sheldon | $2,036 | $2,928 | $3,784 | $5,068 | $6,402 |
| Swanton | $905 | $2,600 | $3,624 | $4,926 | $6,428 |
Source: Ownwell