Westfield, Orleans County, Vermont Property Taxes
The median property tax rate in Westfield, VT is 2.25%, significantly higher than both the national median of 0.99% and Vermont's state median of 2.11%. With the median home value in Westfield, the typical annual property tax bill reaches $3,596, surpassing the national median of $2,690. Property taxes in Westfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Westfield'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 Westfield or another part of Orleans County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westfield, Orleans County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$3,545
$3,290
Ownwell’s Westfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westfield 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 Westfield, Orleans County, Vermont
Property taxes in Westfield, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westfield is 2.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Westfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westfield 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. Understanding how these cities compare with Westfield 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 Westfield Tax Rate
2.25%
Average Orleans County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westfield, Orleans County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05874 | 2.24% | 2.24% | 2.25% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Westfield, Orleans County, Vermont
In Westfield, 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 Westfield, 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. The median home price in Westfield stands at $157,550. The tax bills can vary significantly, with the 25th percentile at $2,265 and the 75th percentile at $4,934. Notably, the highest and lowest median tax bills both amount to $3,596 in the 05874 zip code. 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 Westfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Westfield, Orleans County, Vermont
Source: Ownwell
$29,350
$131,600
$233,850
Average Westfield Assessed Value
$157,550
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 Westfield, Orleans County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05874 | $50,750 | $98,825 | $157,550 | $219,575 | $334,350 |
Source: Ownwell
Property Tax Bills Across Westfield, Orleans County, Vermont
In Westfield, located in 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 local assessor and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Homeowners in Westfield can expect varying tax bills depending on their property values. For instance, the tax bill at the 25th percentile is approximately $2,265, while at the 75th percentile, it rises to about $4,934. Those at the 90th percentile face even higher bills, around $7,511. The median home price in Westfield is $157,550, and the median tax bill is $3,596, which is higher than the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in Westfield.
Average Westfield Tax Bill
$3,596
Average Orleans County Tax Bill
$3,124
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Westfield, Orleans County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05874 | $1,156 | $2,265 | $3,596 | $4,934 | $7,511 |
Source: Ownwell