Halifax, Vermont Property Taxes
The median property tax rate in Halifax, VT is 2.64%, significantly higher than both the national median of 0.99% and the Vermont state median of 2.11%. With a median home value of $228,200 in Halifax, the typical annual property tax bill reaches $6,027, far exceeding the national median of $2,690. Property taxes in Halifax are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Halifax'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 Halifax 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
Halifax, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.64%
Estimate Property Tax Bill
$6,024
Ownwell’s Halifax Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Halifax with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Halifax 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 Halifax, Vermont
Property taxes in Halifax, Vermont, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Halifax is 2.64%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Halifax set these rates annually, and they can vary significantly across different neighborhoods. Each year, Halifax 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 Halifax's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05358 zip code has the highest median property tax rate of 2.64%, while the same zip code also has the lowest median tax rate of 2.64%. Understanding how these rates compare with Halifax 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 Halifax Tax Rate
2.64%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Halifax, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05358 | 2.64% | 2.64% | 2.64% | 2.64% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Halifax, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Halifax, 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 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 Halifax, 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 Halifax helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 05358, at $6,027, while the lowest is also 05358, showing a uniform tax structure within the area.
Average Halifax Assessed Value
$228,200
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 Halifax, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05358 | $152,300 | $178,700 | $228,200 | $234,700 | $291,220 |
Source: Ownwell
Property Tax Bills Across Halifax, Vermont
In Halifax, Windham County, VT, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, the median home price in Halifax is $228,200. Homeowners in the 25th percentile can expect to pay approximately $4,719, while those in the 75th percentile might see tax bills around $6,198. At the 90th percentile, tax bills can reach up to $7,691. Several factors influence the assessed value, including the property's size, location, and condition. Unlike the national median property tax rate of 0.99%, Halifax's property tax rates can lead to significantly higher tax bills. Homeowners in the ZIP code 05358, for instance, face the highest median tax bill of $6,027. These tax rates directly impact homeowners by affecting their annual expenses and, potentially, their property's market value. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Halifax Tax Bill
$6,027
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Halifax, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05358 | $4,022 | $4,719 | $6,027 | $6,198 | $7,691 |
Source: Ownwell