North Montpelier, Vermont Property Taxes
The median property tax rate in North Montpelier, VT is 1.16%, considerably higher than the national median of 0.99% but lower than the Vermont state median of 2.11%. With the median home value in North Montpelier at $169,900, the typical annual property tax bill reaches $1,229, which is below the national median of $2,690. Property taxes in North Montpelier are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Montpelier'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 North Montpelier or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Montpelier, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,971
Ownwell’s North Montpelier Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Montpelier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Montpelier 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 North Montpelier, Vermont
Property taxes in North Montpelier, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Montpelier is 1.16%, higher than the U.S. national median of 0.99%. Local government entities within North Montpelier set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Montpelier 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 North Montpelier's effective property tax rate to other areas and the national median. For comparison, the 05666 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these areas compare with North Montpelier 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 North Montpelier Tax Rate
1.16%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Montpelier, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05666 | 0.42% | 0.87% | 1.16% | 2.33% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across North Montpelier, Vermont
In North Montpelier, 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 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 North Montpelier, 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 North Montpelier helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 05666, with a median tax bill of $1,229.
Property Tax Assessment Values Across North Montpelier, Vermont
Source: Ownwell
$129,700
$525,850
$922,000
Average North Montpelier Assessed Value
$169,900
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 North Montpelier, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05666 | $117,340 | $127,250 | $169,900 | $274,450 | $380,740 |
Source: Ownwell
Property Tax Bills Across North Montpelier, Vermont
In North Montpelier, Washington County, VT, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessor and reflects the property's market value. Homeowners in North Montpelier experience varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is $1,011, while the 75th percentile tax bill reaches $1,819. The highest tax bills can soar up to $7,534, indicating significant variation based on property values and specific assessments. The local tax rate is applied to the assessed value to determine the annual tax bill. With a median home price of $169,900, homeowners in North Montpelier face a range of tax obligations. Compared to the national median property tax rate of 0.99%, the tax rates in this area can significantly impact homeowners' financial planning. Understanding these factors helps residents anticipate their property tax responsibilities and plan accordingly.
Average North Montpelier Tax Bill
$1,229
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across North Montpelier, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05666 | $527 | $1,011 | $1,229 | $1,819 | $7,534 |
Source: Ownwell