Grand Isle County, Vermont Property Taxes
The median property tax rate in Grand Isle is 1.98%, 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 Grand Isle at $222,800, the typical annual property tax bill reaches $4,237, surpassing the national median of $2,690. Property taxes in Grand Isle are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Grand Isle's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in a city or another part of Grand Isle, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grand Isle County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$4,411
$4,094
Ownwell’s Grand Isle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Isle with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Grand Isle 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 Grand Isle County, Vermont
Property taxes in Grand Isle County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Grand Isle County is 1.98%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Grand Isle County set these rates annually, and they can vary significantly between different areas within the county. Each year, Grand Isle County 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. The following data compares Grand Isle County's effective property tax rate with other areas. For comparison, the city of Alburgh has one of the higher property tax rates in the region at 2.04%, while the city of North Hero boasts one of the lowest at 1.98%. Analyzing how Grand Isle County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Grand Isle County Tax Rate
1.98%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Isle County, Vermont
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alburgh | 1.91% | 1.92% | 2.04% | 2.11% | 2.11% |
| Grand Isle | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% |
| Isle La Motte | N/A | N/A | N/A | N/A | N/A |
| North Hero | 1.95% | 1.98% | 1.98% | 1.98% | 1.98% |
| South Hero | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Grand Isle County, Vermont
In Grand Isle, 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 Grand Isle 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 Grand Isle 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. Being aware of these valuation processes in Grand Isle will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Grand Isle has a wide range of tax bills, with the highest median tax bill in the city of Grand Isle at $5,143, and the lowest in Alburgh at $2,815.
Property Tax Assessment Values Across Grand Isle County, Vermont
Source: Ownwell
$141,600
$202,100
$262,600
Average Grand Isle County Assessed Value
$222,800
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Isle County, Vermont
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alburgh | $6,630 | $63,225 | $141,600 | $230,650 | $328,040 |
| Grand Isle | $101,220 | $184,300 | $262,600 | $391,100 | $624,180 |
| Isle La Motte | N/A | N/A | N/A | N/A | N/A |
| North Hero | $115,080 | $184,600 | $255,800 | $382,900 | $549,100 |
| South Hero | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Grand Isle County, Vermont
In Grand Isle County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Grand Isle County is $222,800. Homeowners in Grand Isle County face varying tax bills, with the 25th percentile at $2,386 and the 75th percentile at $6,296. At the higher end, the 90th percentile tax bill reaches $9,597. The highest median tax bill in the county can be found in Grand Isle city at $5,143, while the lowest is in Alburgh at $2,815. Compared to the national median property tax rate of 0.99%, Grand Isle County's tax bills reflect the influence of local property values and tax rates, significantly impacting homeowners' annual expenses.
Average Grand Isle County Tax Bill
$4,237
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Isle County, Vermont
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alburgh | $125 | $1,225 | $2,815 | $4,638 | $6,714 |
| Grand Isle | $1,881 | $3,629 | $5,143 | $7,626 | $11,737 |
| Isle La Motte | N/A | N/A | N/A | N/A | N/A |
| North Hero | $2,208 | $3,601 | $5,037 | $7,593 | $10,778 |
| South Hero | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell