Pittsfield, Rutland County, Vermont Property Taxes
The median property tax rate in Pittsfield, VT is 1.68%, significantly higher than the national median of 0.99% but lower than the Vermont state median of 2.11%. With a median home value of $266,000 in Pittsfield, the typical annual property tax bill reaches $4,536, which exceeds the national median of $2,690. Property taxes in Pittsfield are calculated based on the tax assessed value, usually lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Pittsfield'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 Pittsfield 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
Pittsfield, Rutland County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$4,469
$4,147
Ownwell’s Pittsfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pittsfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pittsfield 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 Pittsfield, Rutland County, Vermont
Property taxes in Pittsfield, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pittsfield is 1.68%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Pittsfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pittsfield 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 Pittsfield's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05762 zip code has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these cities compare with Pittsfield 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 Pittsfield Tax Rate
1.68%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pittsfield, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05762 | 1.42% | 1.61% | 1.68% | 1.73% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Pittsfield, Rutland County, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pittsfield, Vermont. 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 local 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. Assessment notices in Pittsfield 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 Pittsfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Pittsfield is $4,536 in the 05762 zip code, which is also the lowest median tax bill for the area.
Property Tax Assessment Values Across Pittsfield, Rutland County, Vermont
Source: Ownwell
$78,800
$178,250
$277,700
Average Pittsfield Assessed Value
$266,000
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 Pittsfield, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05762 | $80,620 | $185,700 | $266,000 | $340,700 | $440,980 |
Source: Ownwell
Property Tax Bills Across Pittsfield, Rutland County, Vermont
In Pittsfield, Rutland 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's office and reflects the market value of the property. Homeowners in Pittsfield experience a variety of tax bills, with the 25th percentile paying around $3,410 and the 75th percentile paying approximately $5,730. For those at the 90th percentile, the tax bill can reach up to $7,298. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions. The highest median tax bill in the area is $4,536, found in the 05762 zip code, which also represents the lowest median tax bill. Compared to the national median property tax rate of 0.99%, Pittsfield's property tax rates can significantly impact homeowners, making it essential for them to understand their assessments and potential exemptions to manage their financial obligations effectively.
Average Pittsfield Tax Bill
$4,536
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Pittsfield, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05762 | $1,842 | $3,410 | $4,536 | $5,730 | $7,298 |
Source: Ownwell