Townshend, Vermont Property Taxes
The median property tax rate in Townshend, VT is 2.08%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Townshend at $180,900, the typical annual property tax bill reaches $3,838, exceeding the national median of $2,690. Property taxes in Townshend 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 Townshend'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 Townshend 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
Townshend, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$3,763
Ownwell’s Townshend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Townshend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Townshend 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 Townshend, Vermont
Property taxes in Townshend, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Townshend is 2.08%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Townshend set these rates annually, and they can vary significantly across different neighborhoods. Each year, Townshend 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 Townshend's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05353 zip code has the highest median property tax rate of 2.08%, while the same zip code also has the lowest median tax rate of 2.08%. Understanding how these cities compare with Townshend 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 Townshend Tax Rate
2.08%
Average Windham County Tax Rate
2.04%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Townshend, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05353 | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Townshend, Vermont
In Townshend, 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 Townshend, 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 Townshend helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 05353 has the highest and lowest median tax bill at $3,838, reflecting the area's property value consistency.
Average Townshend Assessed Value
$180,900
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 Townshend, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05353 | $70,940 | $124,400 | $180,900 | $248,300 | $343,300 |
Source: Ownwell
Property Tax Bills Across Townshend, Vermont
In Townshend, located in Windham County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Townshend stands at $180,900, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Townshend experience a wide range of property tax bills. For instance, the 25th percentile tax bill is approximately $2,758, while the 75th percentile tax bill reaches around $5,220. At the 90th percentile, homeowners might see tax bills as high as $7,169. Comparatively, the national median property tax rate is 0.99%, highlighting the variance in tax burdens across different regions. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Townshend Tax Bill
$3,838
Average Windham County Tax Bill
$3,712
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Townshend, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05353 | $1,637 | $2,758 | $3,838 | $5,220 | $7,169 |
Source: Ownwell