Guilford, Vermont Property Taxes
The median property tax rate in Guilford, VT is 2.31%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Guilford at $198,750, the typical annual property tax bill reaches $4,483, significantly exceeding the national median of $2,690. Property taxes in Guilford 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 Guilford'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 Guilford 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
Guilford, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$4,591
Ownwell’s Guilford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guilford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guilford 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 Guilford, Vermont
Property taxes in Guilford, Vermont, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guilford is 1.88%, significantly higher than the Vermont state median of 1.86% and the U.S. national median of 0.99%. Local government entities within Guilford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guilford 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 Guilford's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05301 zip code has the highest median property tax rate of 1.88%, while the 05301 zip code also has the lowest median tax rate of 1.88%. Understanding how these cities compare with Guilford provides valuable insights into the varying tax landscape across Windham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Guilford Tax Rate
2.31%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guilford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05301 | 2.04% | 2.31% | 2.31% | 2.31% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Guilford, Vermont
In Guilford, 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 Windham 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 Guilford, 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. The median home price in Guilford is $198,750, with tax bills ranging from $3,328 at the 25th percentile to $8,637 at the 90th percentile. The highest and lowest median tax bills are both $4,483 in the 05301 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Guilford Assessed Value
$198,750
Average Windham County Assessed Value
$195,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Guilford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05301 | $97,892 | $147,880 | $198,750 | $271,490 | $388,652 |
Source: Ownwell
Property Tax Bills Across Guilford, Vermont
In Guilford, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, size, location, and any improvements made. For homeowners in Guilford, the median home price is $198,750, and the property tax rate is higher than the national median of 0.99%. The tax bills in this area can vary significantly. For example, the 25th percentile of tax bills is $3,328, while the 75th percentile reaches up to $6,147. At the 90th percentile, homeowners might pay as much as $8,637. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding how these taxes are calculated can help homeowners better anticipate their annual expenses and make informed decisions about property investments.
Average Guilford Tax Bill
$4,483
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Guilford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05301 | $2,019 | $3,328 | $4,483 | $6,147 | $8,637 |
Source: Ownwell