Jay, Orleans County, Vermont Property Taxes
The median property tax rate in Jay, VT is 1.82%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Jay at $186,700, the typical annual property tax bill reaches $3,404, exceeding the national median of $2,690. Property taxes in Jay 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 Jay'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 Jay 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
Jay, Orleans County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.82%
Estimate Property Tax Bill
$3,398
$3,153
Ownwell’s Jay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jay 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 Jay, Orleans County, Vermont
Property taxes in Jay, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jay is 1.82%, significantly higher than the U.S. national median of 0.99%. Local government entities within Jay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jay 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 Jay's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05859 in Jay has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these cities compare with Jay provides valuable insights into the varying tax landscape across Orleans County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jay Tax Rate
1.82%
Average Orleans County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jay, Orleans County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05859 | 1.82% | 1.82% | 1.82% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Jay, Orleans County, Vermont
In Jay, 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 Orleans 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 Jay, 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 Jay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Jay, the median home price is $186,700, with tax bills ranging from $2,313 at the 25th percentile to $5,958 at the 90th percentile. The highest and lowest median tax bill both stand at $3,404 in the 05859 zip code.
Property Tax Assessment Values Across Jay, Orleans County, Vermont
Source: Ownwell
$29,350
$131,600
$233,850
Average Jay Assessed Value
$186,700
Average Orleans County Assessed Value
$150,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jay, Orleans County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05859 | $66,240 | $126,900 | $186,700 | $238,500 | $326,480 |
Source: Ownwell
Property Tax Bills Across Jay, Orleans County, Vermont
In Jay, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the tax bill. For instance, the median home price in Jay is $186,700. Homeowners in Jay can expect property tax bills to vary significantly. For example, those in the 25th percentile pay around $2,313, while those in the 75th percentile face bills of approximately $4,348. The 90th percentile sees even higher bills, reaching up to $5,958. These figures highlight the variability in property tax bills that homeowners might encounter. The property tax rate in Jay is influenced by various factors, including local government budgets and the need to fund public services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Jay’s property tax rates may appear higher or lower depending on the specific assessed values and local tax rates. Homeowners should be aware of these factors, as they directly impact their annual financial obligations.
Average Jay Tax Bill
$3,404
Average Orleans County Tax Bill
$3,124
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Jay, Orleans County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05859 | $1,208 | $2,313 | $3,404 | $4,348 | $5,958 |
Source: Ownwell