Alburgh, Vermont Property Taxes
The median property tax rate in Alburgh, 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 Alburgh, the typical annual property tax bill reaches $2,815, exceeding the national median of $2,690. Property taxes in Alburgh 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 Alburgh'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 Alburgh 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
Alburgh, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.04%
Estimate Property Tax Bill
$2,889
Ownwell's Alburgh Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Alburgh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alburgh 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 Alburgh, Vermont
Property taxes in Alburgh, Vermont, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Alburgh is 1.60%, which is higher than the Vermont state median of 1.59% and the U.S. national median of 0.99%. Local government entities within Alburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alburgh 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 Alburgh's effective property tax rate to other counties in Vermont and the national median. For comparison, the ZIP code 05440 has the highest median property tax rate of 1.60%, while the same ZIP code also has the lowest median tax rate of 1.60%. Understanding how these areas compare with Alburgh provides valuable insights into the varying tax landscape across Grand Isle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alburgh Tax Rate
2.04%
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 Alburgh, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05440 | 1.91% | 1.92% | 2.04% | 2.11% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Alburgh, Vermont
In Alburgh, 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 Grand Isle 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 Alburgh, 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 Alburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Alburgh is $141,600, with the 25th percentile tax bill at $1,225 and the 75th percentile tax bill at $4,638. The highest and lowest median tax bills are both in the 05440 zip code, valued at $2,815.
Average Alburgh Assessed Value
$141,600
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 Alburgh, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05440 | $6,630 | $63,225 | $141,600 | $230,650 | $328,040 |
Source: Ownwell
Property Tax Bills Across Alburgh, Vermont
In Alburgh, located in Grand Isle County, VT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor and reflects the market value of the property. Homeowners in Alburgh typically face property tax bills that vary widely depending on their property's assessed value and the specific tax rate applied by the local government. For example, the median home price in Alburgh is $141,600. Property tax bills can range significantly, with the 25th percentile tax bill at $1,225 and the 75th percentile reaching $4,638. The 90th percentile tax bill can be as high as $6,714. These figures indicate a broad spectrum of tax burdens, influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Alburgh's property tax rates can result in significantly higher or lower bills for homeowners. This variability impacts homeowners' financial planning, as their annual tax obligations can be substantial, especially for higher-valued properties.
Average Alburgh Tax Bill
$2,815
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 Alburgh, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05440 | $125 | $1,225 | $2,815 | $4,638 | $6,714 |
Source: Ownwell