North Pomfret, Vermont Property Taxes
The median property tax rate in North Pomfret, VT is 1.06%, slightly higher than the national median of 0.99% but significantly lower than the Vermont state median of 2.11%. With a median home value of $367,340 in North Pomfret, the typical annual property tax bill reaches $3,966, surpassing the national median of $2,690. Property taxes in North Pomfret are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Pomfret'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 North Pomfret 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
North Pomfret, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$3,894
Ownwell’s North Pomfret Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Pomfret with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Pomfret 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 Windsor County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across North Pomfret, Vermont
Property taxes in North Pomfret, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Pomfret is 1.06%, higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within North Pomfret set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Pomfret 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 North Pomfret's effective property tax rate to other areas in Vermont and the national median. For comparison, the 05053 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these areas compare with North Pomfret 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 North Pomfret Tax Rate
1.06%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Pomfret, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05053 | 0.35% | 0.63% | 1.06% | 1.76% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across North Pomfret, Vermont
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in North Pomfret, 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 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. 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 North Pomfret helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3966 in the 05053 zip code.
Average North Pomfret Assessed Value
$367,340
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 North Pomfret, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05053 | $191,606 | $260,290 | $367,340 | $577,970 | $878,596 |
Source: Ownwell
Property Tax Bills Across North Pomfret, Vermont
In North Pomfret, Windsor County, VT, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. For homeowners in North Pomfret, the median home price is $367,340. The tax rate in this region results in a variety of tax bills, with the 25th percentile paying around $3,439 annually, while those in the 75th percentile face bills as high as $6,926. The 90th percentile sees even higher bills, reaching up to $8,005. Several factors contribute to the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. These factors ensure that homeowners pay a fair share based on their property's value. Compared to the national median property tax rate of 0.99%, North Pomfret homeowners experience a relatively higher tax burden, reflecting the local property values and tax policies. This impacts homeowners by influencing overall housing costs and potentially affecting decisions related to buying or selling property in the area.
Average North Pomfret Tax Bill
$3,966
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across North Pomfret, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05053 | $2,524 | $3,439 | $3,966 | $6,926 | $8,005 |
Source: Ownwell