Jeffersonville, Vermont Property Taxes
The median property tax rate in Jeffersonville, VT is 2.20%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Jeffersonville at $208,400, the typical annual property tax bill reaches $4,527, exceeding the national median of $2,690. Property taxes in Jeffersonville 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 Jeffersonville'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 Jeffersonville 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
Jeffersonville, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.2%
Estimate Property Tax Bill
$4,585
Ownwell’s Jeffersonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jeffersonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jeffersonville 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 Jeffersonville, Vermont
Property taxes in Jeffersonville, Vermont, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jeffersonville is 2.20%, significantly higher than the U.S. national median of 0.99%. Local government entities within Jeffersonville set these rates annually, and they can vary across different neighborhoods. Each year, Jeffersonville 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 Jeffersonville's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05464 has both the highest and lowest median property tax rate of 2.20%. Understanding how these areas compare with Jeffersonville provides valuable insights into the varying tax landscape across Lamoille County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jeffersonville Tax Rate
2.20%
Average Lamoille County Tax Rate
2.18%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jeffersonville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05464 | 2.20% | 2.20% | 2.20% | 2.20% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Jeffersonville, Vermont
In Jeffersonville, 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 Lamoille 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 Jeffersonville, 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 Jeffersonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,527, found in zip code 05464, and the lowest median tax bill is also $4,527 in the same zip code.
Property Tax Assessment Values Across Jeffersonville, Vermont
Source: Ownwell
$125,650
$285,025
$444,400
Average Jeffersonville Assessed Value
$208,400
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 Jeffersonville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05464 | $124,800 | $165,250 | $208,400 | $268,500 | $351,200 |
Source: Ownwell
Property Tax Bills Across Jeffersonville, Vermont
In Jeffersonville, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Jeffersonville is $208,400. Homeowners face a property tax rate that significantly impacts their annual tax bill, which can range from $3,588 at the 25th percentile to $7,722 at the 90th percentile. The highest median tax bill in the county is $4,527, which is notably above the national median property tax rate of 0.99%. Several factors determine a homeowner's property tax bill in Jeffersonville. These include the assessed value of the property, which is influenced by market conditions and property characteristics, and the local tax rate set by municipal authorities. Higher property values and tax rates result in higher tax bills, affecting homeowners' financial planning and overall cost of living. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and budget accordingly.
Average Jeffersonville Tax Bill
$4,527
Average Lamoille County Tax Bill
$3,189
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Jeffersonville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05464 | $2,690 | $3,588 | $4,527 | $5,870 | $7,722 |
Source: Ownwell