Brookfield, Orange County, Vermont Property Taxes
The median property tax rate in Brookfield, VT is 1.70%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Brookfield at $253,200, the typical annual property tax bill reaches $4,301, exceeding the national median of $2,690. Property taxes in Brookfield 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 Brookfield'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 Brookfield 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
Brookfield, Orange County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$4,304
$3,994
Ownwell’s BROOKFIELD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BROOKFIELD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BROOKFIELD 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 Brookfield, Orange County, Vermont
Property taxes in Brookfield, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookfield is 1.70%, significantly higher than the U.S. national median of 0.99%. Local government entities within Brookfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookfield 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 Brookfield's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05036 has both the highest and lowest median property tax rate of 1.70%. Understanding how these cities compare with Brookfield provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brookfield Tax Rate
1.70%
Average Orange County Tax Rate
2.24%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookfield, Orange County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05036 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Brookfield, Orange County, Vermont
In Brookfield, 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 local 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 Brookfield, 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. For instance, the median home price in Brookfield is $253,200, with tax bills ranging from $2,851 at the 25th percentile to $8,068 at the 90th percentile. The highest and lowest median tax bills, both at $4,301, are found in the 05036 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Brookfield, Orange County, Vermont
Source: Ownwell
$135,700
$218,350
$301,000
Average Brookfield Assessed Value
$253,200
Average Orange County Assessed Value
$178,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brookfield, Orange County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05036 | $93,750 | $164,575 | $253,200 | $360,650 | $469,800 |
Source: Ownwell
Property Tax Bills Across Brookfield, Orange County, Vermont
In Brookfield, Orange 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 town's assessor and reflects the market value of the property. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the size of the property, its location, and any improvements made. For homeowners in Brookfield, the median home price is $253,200. Property tax bills can vary significantly, with the 25th percentile tax bill at $2,851 and the 75th percentile tax bill at $6,130. At the 90th percentile, homeowners might see tax bills as high as $8,068. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Higher property taxes can impact homeowners by increasing the overall cost of owning a home, potentially affecting affordability and long-term financial planning.
Average Brookfield Tax Bill
$4,301
Average Orange County Tax Bill
$3,722
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookfield, Orange County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05036 | $1,591 | $2,851 | $4,301 | $6,130 | $8,068 |
Source: Ownwell