Strafford, Vermont Property Taxes
The median property tax rate in Strafford, VT is 2.23%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With a median home value of $258,600 in Strafford, the typical annual property tax bill reaches $5,817, surpassing the national median of $2,690. Property taxes in Strafford are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Strafford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Strafford or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Strafford, Vermont 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 Strafford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Strafford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Strafford 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 Strafford, Vermont
Property taxes in Strafford, Vermont, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Strafford is 1.68%, higher than both the Vermont state median of 1.59% and the U.S. national median of 0.99%. Local government entities within Strafford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Strafford 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 Strafford's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05070 zip code has the highest median property tax rate of 1.68%, while the 05072 zip code has the lowest median tax rate of 1.68%. Understanding how these areas compare with Strafford 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 Strafford Tax Rate
2.23%
Average Orange County Tax Rate
2.24%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Strafford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05070 | 2.23% | 2.23% | 2.23% | 2.23% | 2.23% |
| 05072 | 2.23% | 2.23% | 2.23% | 2.23% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Strafford, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Strafford, Vermont. 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 Strafford, 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. For instance, the median home price in Strafford is $258,600. The annual tax bill can vary significantly, with the 25th percentile at $3,961 and the 75th percentile at $8,529. The highest median tax bill is $12,078 in the 05070 zip code, while the lowest median tax bill is $5,767 in the 05072 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Strafford Assessed Value
$258,600
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 Strafford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05070 | $541,600 | $541,600 | $541,600 | $541,600 | $541,600 |
| 05072 | $111,370 | $177,625 | $258,200 | $379,475 | $516,100 |
Source: Ownwell
Property Tax Bills Across Strafford, Vermont
In Strafford, located in 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 typically reflects a percentage of the market value. The local tax rate, applied to this assessed value, determines the final tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. Market trends and recent sales of comparable properties also play a significant role. Homeowners in Strafford can expect varying tax bills: at the 25th percentile, the tax bill is $3,961, while at the 75th percentile, it rises to $8,529. For those at the 90th percentile, it reaches $11,694. Compared to the national median property tax rate of 0.99%, Strafford's rates can result in higher tax bills, depending on the property's assessed value. This can significantly affect homeowners, influencing their overall housing costs and financial planning.
Average Strafford Tax Bill
$5,817
Average Orange County Tax Bill
$3,722
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Strafford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05070 | $12,078 | $12,078 | $12,078 | $12,078 | $12,078 |
| 05072 | $2,480 | $3,949 | $5,767 | $8,507 | $11,518 |
Source: Ownwell