Lowell, Vermont Property Taxes
The median property tax rate in Lowell, VT is 1.70%, which is significantly higher than the national median of 0.99% but lower than the Vermont state median of 2.11%. With the median home value in Lowell at $123,100, the typical annual property tax bill amounts to $1,997, which is below the national median of $2,690. Property taxes in Lowell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lowell'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 Lowell or another part of Orleans County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lowell, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$2,093
Ownwell’s Lowell Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Lowell with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lowell to provide an estimate of 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 Lowell, Vermont
Property taxes in Lowell, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lowell stands at 1.70%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Lowell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lowell 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 Lowell's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05847 zip code has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Lowell 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 Lowell Tax Rate
1.70%
Average Orleans County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lowell, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05847 | 0.36% | 0.89% | 1.70% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Lowell, Vermont
In Lowell, 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 Lowell, 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 Lowell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Lowell is $1997, both found in the 05847 zip code.
Average Lowell Assessed Value
$123,100
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 Lowell, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05847 | $50,550 | $78,725 | $123,100 | $176,600 | $246,000 |
Source: Ownwell
Property Tax Bills Across Lowell, Vermont
In Lowell, Vermont, property tax bills are calculated based on the assessed value of a property. This valuation is determined by the local assessor’s office, which evaluates the market value of homes in the area. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Lowell experience a range of property tax bills, influenced by factors such as property size, location, and market conditions. For instance, the 25th percentile tax bill is $955, while the 75th percentile reaches $2,735, and the 90th percentile can be as high as $5,055. These variations reflect differences in property values and individual assessments. Compared to the national median property tax rate of 0.99%, homeowners in Lowell may find their tax obligations vary significantly, affecting their annual financial planning. Understanding how these factors interplay can help homeowners better anticipate their property tax responsibilities and manage their budgets accordingly.
Average Lowell Tax Bill
$1,997
Average Orleans County Tax Bill
$3,124
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Lowell, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05847 | $291 | $955 | $1,997 | $2,735 | $5,055 |
Source: Ownwell