Montgomery Center, Orleans County, Vermont Property Taxes
The median property tax rate in Montgomery Center, VT is 2.24%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Montgomery Center, the typical annual property tax bill reaches $3,480, exceeding the national median of $2,690. Property taxes in Montgomery Center 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 Montgomery Center'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 Montgomery Center 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
Montgomery Center, Orleans County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.24%
Estimate Property Tax Bill
$3,472
$3,222
Ownwell’s Montgomery Center Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montgomery Center with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montgomery Center 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 Montgomery Center, Orleans County, Vermont
Property taxes in Montgomery Center, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montgomery Center is 2.24%, significantly higher than the U.S. national median of 0.99%. Local government entities within Montgomery Center set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montgomery Center 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 Montgomery Center's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05471 has both the highest and lowest median property tax rate of 2.24%. Understanding how these areas compare with Montgomery Center 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 Montgomery Center Tax Rate
2.24%
Average Orleans County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montgomery Center, Orleans County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05471 | 2.20% | 2.24% | 2.24% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery Center, Orleans County, Vermont
In Montgomery Center, 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 Montgomery Center, 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 Montgomery Center helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 05471, with a median tax bill of $3,480.
Property Tax Assessment Values Across Montgomery Center, Orleans County, Vermont
Source: Ownwell
$29,350
$131,600
$233,850
Average Montgomery Center Assessed Value
$155,000
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 Montgomery Center, Orleans County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05471 | $123,500 | $139,900 | $155,000 | $189,000 | $301,140 |
Source: Ownwell
Property Tax Bills Across Montgomery Center, Orleans County, Vermont
In Montgomery Center, Orleans 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 applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For example, a home with a median price of $155,000 in Montgomery Center can expect a tax bill ranging from $3,140 at the 25th percentile to $5,680 at the 90th percentile. This can significantly impact homeowners, as property taxes are a substantial annual expense that must be budgeted for. Comparing this to the national median property tax rate of 0.99%, homeowners in Montgomery Center may find their property taxes to be relatively high, emphasizing the importance of understanding and managing these costs effectively.
Average Montgomery Center Tax Bill
$3,480
Average Orleans County Tax Bill
$3,124
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery Center, Orleans County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05471 | $2,415 | $3,140 | $3,480 | $4,244 | $5,680 |
Source: Ownwell