East Berkshire, Franklin County, Vermont Property Taxes
The median property tax rate in East Berkshire, VT is 2.04%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in East Berkshire at $151,800, the typical annual property tax bill reaches $2,712, slightly above the national median of $2,690. Property taxes in East Berkshire 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 East Berkshire'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 East Berkshire 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
East Berkshire, Franklin County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$3,097
$2,874
Ownwell’s East Berkshire Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Berkshire with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Berkshire 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 East Berkshire, Franklin County, Vermont
Property taxes in East Berkshire, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Berkshire is 2.04%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within East Berkshire set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Berkshire 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. For comparison, the 05447 zip code has the highest median property tax rate of 2.04%, while the same zip code also has the lowest median tax rate of 2.04%. Understanding how these cities compare with East Berkshire provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Berkshire Tax Rate
2.04%
Average Franklin County Tax Rate
2.01%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Berkshire, Franklin County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05447 | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across East Berkshire, Franklin County, Vermont
In East Berkshire, 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 Franklin 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 East Berkshire, 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 East Berkshire helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 05447 has the highest and lowest median tax bill, both at $2,712.
Property Tax Assessment Values Across East Berkshire, Franklin County, Vermont
Source: Ownwell
$130,000
$220,550
$311,100
Average East Berkshire Assessed Value
$151,800
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 East Berkshire, Franklin County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05447 | $80,940 | $113,600 | $151,800 | $243,150 | $402,660 |
Source: Ownwell
Property Tax Bills Across East Berkshire, Franklin County, Vermont
In East Berkshire, property tax bills are calculated based on the assessed value of homes and the local tax rate set by Franklin County. The median home price in East Berkshire is $151,800, and the property tax rate is applied to this value to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value, which in turn affects the tax bill. Homeowners in East Berkshire can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $2,199, while at the 75th percentile, it is $3,418. Those at the 90th percentile face a tax bill as high as $6,333. These variations highlight how different factors, including property size and location, impact the amount homeowners owe. Compared to the national median property tax rate of 0.99%, East Berkshire's rates reflect the specific economic and regulatory conditions of the area, influencing how much residents pay annually.
Average East Berkshire Tax Bill
$2,712
Average Franklin County Tax Bill
$2,567
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across East Berkshire, Franklin County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05447 | $1,476 | $2,199 | $2,712 | $3,418 | $6,333 |
Source: Ownwell