Mount Tabor, Rutland County, Vermont Property Taxes
The median property tax rate in Mount Tabor, VT is 1.88%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Mount Tabor, the typical annual property tax bill reaches $3,257, exceeding the national median of $2,690. Property taxes in Mount Tabor 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 Mount Tabor'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 Mount Tabor 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
Mount Tabor, Rutland County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$3,500
$3,248
Ownwell’s Mount Tabor Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Mount Tabor. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Mount Tabor to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities clearly. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value, determined by the county, forms the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Mount Tabor, Rutland County, Vermont
Property taxes in Mount Tabor, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Tabor is 1.88%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mount Tabor set these rates annually, and they can vary across different neighborhoods. Each year, Mount Tabor estimates its required budget to maintain services for the upcoming fiscal year and 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 Mount Tabor's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05739 has the highest median property tax rate of 1.88%, while the same zip code also has the lowest median tax rate of 1.88%. Understanding how these areas compare with Mount Tabor 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 Mount Tabor Tax Rate
1.88%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Tabor, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05739 | 1.88% | 1.88% | 1.88% | 1.88% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Mount Tabor, Rutland County, Vermont
In Mount Tabor, 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 local authorities 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 Mount Tabor, 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 Mount Tabor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill in the area is 05739, with a median tax bill of $3,257.
Property Tax Assessment Values Across Mount Tabor, Rutland County, Vermont
Source: Ownwell
$78,800
$178,250
$277,700
Average Mount Tabor Assessed Value
$186,150
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 Mount Tabor, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05739 | $13,260 | $75,650 | $186,150 | $201,225 | $265,540 |
Source: Ownwell
Property Tax Bills Across Mount Tabor, Rutland County, Vermont
In Mount Tabor, located in Rutland County, VT, property tax bills are calculated based on the assessed value of a property and the local tax rate. The median home price in Mount Tabor is $186,150, which serves as a baseline for determining tax obligations. Property assessments consider various factors, including the property's size, location, and condition. The tax bill for homeowners can vary significantly. For instance, those in the 25th percentile of tax bills pay around $1,423, while those in the 75th percentile face a bill of approximately $3,785. Homeowners in the 90th percentile can see tax bills as high as $4,995. These tax rates impact homeowners by influencing their annual financial planning and the overall affordability of owning property in Mount Tabor. Compared to the national median property tax rate of 0.99%, the tax rates in Rutland County can be quite significant, affecting both new buyers and long-term residents.
Average Mount Tabor Tax Bill
$3,257
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Tabor, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05739 | $250 | $1,423 | $3,257 | $3,785 | $4,995 |
Source: Ownwell