Sudbury, Rutland County, Vermont Property Taxes
The median property tax rate in Sudbury, VT is 2.43%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Sudbury, the typical annual property tax bill reaches $3,183, exceeding the national median of $2,690. Property taxes in Sudbury 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 Sudbury'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 Sudbury 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
Sudbury, Rutland County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.43%
Estimate Property Tax Bill
$5,539
$5,140
Ownwell’s Sudbury Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sudbury with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Sudbury to provide an accurate estimate of your property tax bill. This valuable tool offers clear insights into potential tax liabilities, making financial planning easier. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Rutland County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Sudbury, Rutland County, Vermont
Property taxes in Sudbury, Vermont, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Sudbury is 2.43%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Sudbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sudbury 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 Sudbury's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05733 zip code has the highest median property tax rate of 2.43%, while the 05733 zip code also has the lowest median tax rate of 2.43%. Understanding how these cities compare with Sudbury 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 Sudbury Tax Rate
2.43%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sudbury, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | 2.43% | 2.43% | 2.43% | 2.43% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Sudbury, Rutland County, Vermont
In Sudbury, 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 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 Sudbury 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 Sudbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $3,183 in the 05733 zip code.
Property Tax Assessment Values Across Sudbury, Rutland County, Vermont
Source: Ownwell
$78,800
$178,250
$277,700
Average Sudbury Assessed Value
$227,950
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 Sudbury, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | $124,280 | $170,162 | $227,950 | $321,614 | $402,384 |
Source: Ownwell
Property Tax Bills Across Sudbury, Rutland County, Vermont
In Sudbury, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home. For example, with a median home price of $227,950, the assessed value would be a portion of this amount, depending on local assessment practices. The local tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location and the specific tax rate set by the local government. In Sudbury, homeowners can expect to pay property taxes ranging from $2,439 at the 25th percentile to $4,015 at the 75th percentile, with the 90th percentile reaching up to $4,545. These amounts are significantly higher than the national median property tax rate of 0.99%, reflecting the local economic conditions and public service funding needs. High property taxes can impact homeowners by increasing their annual housing costs, making budgeting for other expenses more challenging.
Average Sudbury Tax Bill
$3,183
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Sudbury, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05733 | $666 | $2,439 | $3,183 | $4,015 | $4,545 |
Source: Ownwell