West Rutland, Rutland County, Vermont Property Taxes
The median property tax rate in West Rutland, VT is 2.27%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in West Rutland, the typical annual property tax bill reaches $3,257, exceeding the national median of $2,690. Property taxes in West Rutland 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 West Rutland'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 West Rutland 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
West Rutland, Rutland County, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.27%
Estimate Property Tax Bill
$3,355
$3,113
Ownwell’s West Rutland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Rutland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Rutland 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 West Rutland, Rutland County, Vermont
Property taxes in West Rutland, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Rutland is 2.27%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within West Rutland set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Rutland 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 West Rutland's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05777 has both the highest and lowest median property tax rate of 2.27%. Understanding how these cities compare with West Rutland 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 West Rutland Tax Rate
2.27%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Rutland, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05777 | 2.27% | 2.27% | 2.27% | 2.27% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across West Rutland, Rutland County, Vermont
In West Rutland, 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 West Rutland, 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 West Rutland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in West Rutland are both $3,257, found in zip code 05777.
Property Tax Assessment Values Across West Rutland, Rutland County, Vermont
Source: Ownwell
$78,800
$178,250
$277,700
Average West Rutland Assessed Value
$147,800
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 West Rutland, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05777 | $82,220 | $115,900 | $147,800 | $197,100 | $273,540 |
Source: Ownwell
Property Tax Bills Across West Rutland, Rutland County, Vermont
In West Rutland, 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, which evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in West Rutland can expect property tax bills to vary significantly depending on their property's value. For example, the median home price in the area is $147,800. Property tax bills can range from $2,616 at the 25th percentile to $4,050 at the 75th percentile, with the 90th percentile reaching up to $5,684. These taxes fund essential community services such as schools, emergency services, and infrastructure maintenance, impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, West Rutland's property taxes reflect the local government's efforts to provide and maintain these services.
Average West Rutland 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 West Rutland, Rutland County, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05777 | $1,952 | $2,616 | $3,257 | $4,050 | $5,684 |
Source: Ownwell