Lamoille County Property Taxes
The median property tax rate in Lamoille County is 2.18%, 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 Lamoille County at $219,600, the typical annual property tax bill reaches $3,189, which exceeds the national median of $2,690. Property taxes in Lamoille 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 Lamoille 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 Stowe or another part of Lamoille County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lamoille County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$4,220
Ownwell’s Lamoille County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Lamoille County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lamoille 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 Lamoille County, Vermont
Property taxes in Lamoille County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lamoille County is 2.18%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Lamoille County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lamoille 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. For comparison, the city of Hardwick has one of the higher property tax rates in the region at 3.38%, while the city of Stowe boasts one of the lowest at 0.58%. Analyzing how Lamoille County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lamoille County Tax Rate
2.18%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamoille County, Vermont
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | N/A | N/A | N/A | N/A | N/A |
| Belvidere Center | 1.07% | 1.49% | 2.31% | 2.31% | 2.31% |
| Cambridge | 2.20% | 2.20% | 2.20% | 2.20% | 2.20% |
| Craftsbury | 1.88% | 2.37% | 2.37% | 2.37% | 2.37% |
| Eden | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% |
| Eden Mills | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% |
| Elmore | 2.15% | 2.15% | 2.15% | 2.15% | 2.15% |
| Hardwick | 2.57% | 2.88% | 3.38% | 3.89% | 4.19% |
| Hyde Park | N/A | N/A | N/A | N/A | N/A |
| Jeffersonville | 2.20% | 2.20% | 2.20% | 2.20% | 2.20% |
| Johnson | 2.37% | 2.37% | 2.37% | 2.37% | 2.37% |
| Lake Elmore | 2.15% | 2.15% | 2.15% | 2.15% | 2.15% |
| Morristown | 1.30% | 1.35% | 2.26% | 2.66% | 2.66% |
| Morrisville | 0.51% | 0.99% | 1.33% | 2.66% | 2.66% |
| Stowe | 0.20% | 0.55% | 0.58% | 0.65% | 2.28% |
| Underhill | 2.20% | 2.20% | 2.20% | 2.20% | 2.20% |
| Waterville | 2.20% | 2.31% | 2.31% | 2.31% | 2.31% |
| Wolcott | 2.15% | 2.37% | 2.37% | 2.37% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Lamoille County, Vermont
In Lamoille 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 Lamoille 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 Lamoille 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. For example, Morristown has the highest median tax bill at $8,402, while Stowe has the lowest at $2,532. Being aware of these valuation processes in Lamoille County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Lamoille County, Vermont
Source: Ownwell
$125,650
$285,025
$444,400
Average Lamoille County Assessed Value
$219,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamoille County, Vermont
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | N/A | N/A | N/A | N/A | N/A |
| Belvidere Center | $60,300 | $116,700 | $179,000 | $257,450 | $348,800 |
| Cambridge | $88,950 | $149,225 | $196,800 | $256,100 | $332,990 |
| Craftsbury | $131,400 | $219,900 | $255,600 | $647,440 | $668,536 |
| Eden | $53,545 | $85,555 | $128,750 | $172,740 | $232,720 |
| Eden Mills | $58,800 | $96,545 | $163,650 | $225,905 | $304,910 |
| Elmore | $164,800 | $242,900 | $356,200 | $510,200 | $697,200 |
| Hardwick | $112,640 | $120,500 | $133,600 | $146,700 | $154,560 |
| Hyde Park | N/A | N/A | N/A | N/A | N/A |
| Jeffersonville | $124,800 | $165,250 | $208,400 | $268,500 | $351,200 |
| Johnson | $18,440 | $82,500 | $154,300 | $218,750 | $292,400 |
| Lake Elmore | $117,830 | $227,525 | $295,200 | $387,925 | $412,190 |
| Morristown | $231,740 | $334,250 | $444,400 | $559,000 | $884,560 |
| Morrisville | $117,990 | $153,425 | $208,100 | $299,825 | $429,470 |
| Stowe | $171,730 | $252,950 | $381,000 | $581,300 | $952,350 |
| Underhill | $164,140 | $183,750 | $245,300 | $274,250 | $325,200 |
| Waterville | $63,040 | $115,325 | $160,650 | $221,250 | $280,220 |
| Wolcott | $79,480 | $124,750 | $180,500 | $246,650 | $321,260 |
Source: Ownwell
Property Tax Bills Across Lamoille County, Vermont
In Lamoille County, VT, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by local assessors based on various factors like property size, location, and condition. For instance, with a median home price of $219,600, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied by the local authorities. The tax bills in Lamoille County show significant variation. The 25th percentile tax bill stands at $1,538, while the 75th percentile reaches $5,158. The top 10% of tax bills can go as high as $7,981. This variability means that homeowners in different parts of the county, such as Morristown, which has the highest median tax bill of $8,402, and Stowe, with the lowest at $2,532, can experience vastly different financial impacts. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Lamoille County Tax Bill
$3,189
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamoille County, Vermont
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | N/A | N/A | N/A | N/A | N/A |
| Belvidere Center | $2,621 | $3,051 | $3,534 | $4,130 | $4,204 |
| Cambridge | $1,948 | $3,257 | $4,312 | $5,570 | $7,114 |
| Craftsbury | $3,116 | $5,214 | $6,060 | $10,080 | $13,742 |
| Eden | $1,192 | $1,896 | $2,847 | $3,802 | $4,986 |
| Eden Mills | $1,306 | $2,111 | $3,614 | $4,996 | $6,660 |
| Elmore | $3,500 | $5,214 | $7,662 | $10,974 | $14,997 |
| Hardwick | $3,882 | $4,021 | $4,252 | $4,484 | $4,623 |
| Hyde Park | N/A | N/A | N/A | N/A | N/A |
| Jeffersonville | $2,690 | $3,588 | $4,527 | $5,870 | $7,722 |
| Johnson | $438 | $1,954 | $3,640 | $5,160 | $6,944 |
| Lake Elmore | $2,534 | $4,894 | $6,350 | $8,344 | $8,866 |
| Morristown | $2,913 | $4,767 | $8,402 | $12,812 | $21,663 |
| Morrisville | $641 | $1,708 | $3,050 | $5,134 | $7,836 |
| Stowe | $419 | $1,297 | $2,532 | $5,009 | $10,690 |
| Underhill | $3,613 | $4,044 | $5,399 | $6,036 | $7,158 |
| Waterville | $1,450 | $2,648 | $3,740 | $4,962 | $6,358 |
| Wolcott | $1,850 | $2,906 | $4,166 | $5,698 | $7,458 |
Source: Ownwell