Waterbury, Vermont Property Taxes
The median property tax rate in Waterbury, VT is 2.15%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Waterbury, the typical annual property tax bill reaches $3,601, exceeding the national median of $2,690. Property taxes in Waterbury 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 Waterbury'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 Waterbury 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
Waterbury, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.15%
Estimate Property Tax Bill
$5,044
Ownwell’s Waterbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterbury 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 Waterbury, Vermont
Property taxes in Waterbury, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterbury is 2.15%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Waterbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterbury 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 Waterbury's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05676 zip code has the highest median property tax rate of 2.15%, while the 05671 zip code has the lowest median tax rate of 1.13%. Understanding how these cities compare with Waterbury 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 Waterbury Tax Rate
2.15%
Average Washington County Tax Rate
2.08%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterbury, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05671 | 0.42% | 0.86% | 1.13% | 2.23% | 2.28% |
| 05676 | 0.45% | 1.11% | 2.15% | 2.15% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Waterbury, Vermont
In Waterbury, 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 Waterbury, 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 Waterbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Washington County is $4,277 in the 05671 zip code, while the lowest median tax bill is $3,570 in the 05676 zip code.
Average Waterbury Assessed Value
$234,600
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 Waterbury, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05671 | $158,820 | $314,675 | $393,850 | $532,100 | $590,430 |
| 05676 | $105,400 | $168,200 | $232,000 | $307,325 | $430,140 |
Source: Ownwell
Property Tax Bills Across Waterbury, Vermont
In Waterbury, 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 town's assessor, who evaluates the property to estimate its market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Waterbury can expect a range of property tax bills. For instance, the median home price in the area is $234,600. Tax bills can vary significantly, with the 25th percentile paying around $1,768, while those in the 75th percentile might see bills as high as $5,373. The highest tax bills, in the 90th percentile, can reach up to $7,012. Comparatively, the highest median tax bill in the county is $4,277 in the 05671 zip code, while the lowest is $3,570 in the 05676 zip code. These taxes fund essential local services, impacting the overall quality of life for residents.
Average Waterbury Tax Bill
$3,601
Average Washington County Tax Bill
$3,773
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterbury, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05671 | $1,142 | $2,724 | $4,277 | $6,787 | $12,416 |
| 05676 | $335 | $1,752 | $3,570 | $5,364 | $6,948 |
Source: Ownwell