Barre, Vermont Property Taxes
The median property tax rate in Barre, VT is 2.18%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Barre at $173,660, the typical annual property tax bill reaches $3,484, exceeding the national median of $2,690. Property taxes in Barre 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 Barre'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 Barre 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
Barre, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.18%
Estimate Property Tax Bill
$3,786
Ownwell’s Barre Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barre with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barre 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 Barre, Vermont
Property taxes in Barre, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barre is 2.18%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Barre set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barre 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 Barre's effective property tax rate to other counties in Vermont and the national median. For comparison, the zip code 05641 has the highest median property tax rate of 2.18%, while the same zip code also has the lowest median tax rate of 2.18%. Understanding how these cities compare with Barre provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barre Tax Rate
2.18%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barre, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05641 | 0.66% | 0.84% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Barre, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Barre, 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 Washington 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 Barre, 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. For instance, the highest median tax bill in the area is $3,484 in the 05641 zip code. 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 Barre helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Barre Assessed Value
$173,660
Average Washington County Assessed Value
$205,330
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barre, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05641 | $97,935 | $131,945 | $173,660 | $240,505 | $322,611 |
Source: Ownwell
Property Tax Bills Across Barre, Vermont
In Barre, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Washington County. The assessed value is determined by the local tax assessor and is meant to reflect the market value of the property. Homeowners in Barre can expect a wide range of tax bills, depending on the value of their properties. The tax bill at the 25th percentile is $1,127, while those at the 75th percentile face bills around $5,280. At the high end, the 90th percentile tax bill reaches $7,018. These tax bills are influenced by various factors, including property size, location, and market conditions. The highest and lowest median tax bills in Barre both stand at $3,484, reflecting a consistent rate within the zip code 05641. Compared to the national median property tax rate of 0.99%, Barre's tax rates can significantly impact homeowners, potentially increasing their annual housing expenses. Understanding these factors helps residents anticipate their financial obligations and plan accordingly.
Average Barre Tax Bill
$3,484
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Barre, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05641 | $546 | $1,127 | $3,484 | $5,280 | $7,018 |
Source: Ownwell