Brandon, Rutland County, Vermont Property Taxes
The median property tax rate in Brandon, VT is 2.61%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Brandon at $162,400, the typical annual property tax bill reaches $4,147, far exceeding the national median of $2,690. Property taxes in Brandon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Brandon’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 Brandon or another part of Rutland County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brandon, Rutland County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$4,239
$3,933
Ownwell’s Brandon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brandon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brandon 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 Brandon, Rutland County, Vermont
Property taxes in Brandon, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brandon is 2.61%, significantly higher than the U.S. national median of 0.99%. Local government entities within Brandon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brandon 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 Brandon's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05733 has both the highest and lowest median property tax rate of 2.61%. Understanding how these areas compare with Brandon provides valuable insights into the varying tax landscape across Rutland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brandon Tax Rate
2.61%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brandon, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | 2.52% | 2.61% | 2.61% | 2.61% | 2.61% |
Source: Ownwell
Property Tax Assessment Values Across Brandon, Rutland County, Vermont
In Brandon, 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 Rutland 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 Brandon, 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. The median home price in Brandon is $162,400, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $3,012, while the 75th percentile tax bill reaches $5,420, and the 90th percentile tax bill is $7,157. The highest and lowest median tax bills in Brandon are both $4,147, found in the 05733 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Brandon, Rutland County, Vermont
Source: Ownwell
$78,800
$178,250
$277,700
Average Brandon Assessed Value
$162,400
Average Rutland County Assessed Value
$162,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brandon, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | $72,940 | $116,950 | $162,400 | $216,350 | $285,740 |
Source: Ownwell
Property Tax Bills Across Brandon, Rutland County, Vermont
Property tax bills in Brandon, Rutland County, VT, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, condition, and recent sales of similar properties in the area. Homeowners in Brandon can expect a median tax bill of $4,147, with tax bills ranging from $3,012 at the 25th percentile to $7,157 at the 90th percentile. This range indicates significant variability based on property values and specific circumstances. Compared to the national median property tax rate of 0.99%, Brandon's property tax bills can be relatively high, impacting homeowners' annual expenses. Understanding how these factors come together can help homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Brandon Tax Bill
$4,147
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Brandon, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | $1,899 | $3,012 | $4,147 | $5,420 | $7,157 |
Source: Ownwell