Bridgewater, Vermont Property Taxes
The median property tax rate in Bridgewater, VT is 2.19%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Bridgewater, the typical annual property tax bill reaches $3,661, exceeding the national median of $2,690. Property taxes in Bridgewater 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 Bridgewater'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 Bridgewater 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
Bridgewater, Vermont Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$4,220
Ownwell’s Bridgewater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bridgewater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bridgewater 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 Bridgewater, Vermont
Property taxes in Bridgewater, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgewater is 2.19%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within Bridgewater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgewater 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 Bridgewater's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05034 zip code has the highest median property tax rate of 2.19%, while the same zip code also has the lowest median tax rate of 2.19%. Understanding how these cities compare with Bridgewater provides valuable insights into the varying tax landscape across Windsor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgewater Tax Rate
2.19%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgewater, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05034 | 2.19% | 2.19% | 2.19% | 2.19% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Bridgewater, Vermont
In Bridgewater, 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 Windsor 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 Bridgewater, 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. The median home price in Bridgewater is $167,000, with tax bills ranging from $2,217 at the 25th percentile to $9,963 at the 90th percentile. The highest and lowest median tax bills are both $3,661 in zip code 05034. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bridgewater Assessed Value
$167,000
Average Windsor County Assessed Value
$205,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgewater, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05034 | $53,900 | $101,150 | $167,000 | $259,200 | $454,500 |
Source: Ownwell
Property Tax Bills Across Bridgewater, Vermont
In Bridgewater, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $167,000 in Bridgewater, homeowners can expect their property tax bills to vary significantly, ranging from $2,217 at the 25th percentile to $9,963 at the 90th percentile. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, Bridgewater's rates can be considerably higher, impacting homeowners' annual expenses. The highest and lowest median tax bills in the area both stand at $3,661, indicating a consistent tax rate across different properties. Understanding these factors can help homeowners better anticipate their financial obligations and manage their budgets effectively.
Average Bridgewater Tax Bill
$3,661
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgewater, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05034 | $1,181 | $2,217 | $3,661 | $5,682 | $9,963 |
Source: Ownwell