Proctorsville, Vermont Property Taxes
The median property tax rate in Proctorsville, 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 Proctorsville at $182,100, the typical annual property tax bill reaches $4,429, significantly exceeding the national median of $2,690. Property taxes in Proctorsville 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 Proctorsville'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 Proctorsville or another part of Windsor County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Proctorsville, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.19%
Estimate Property Tax Bill
$3,988
Ownwell’s Proctorsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Proctorsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Proctorsville 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 Proctorsville, Vermont
Property taxes in Proctorsville, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Proctorsville is 2.19%, significantly higher than the U.S. national median of 0.99%. Local government entities within Proctorsville set these rates annually, and they can vary across different neighborhoods. Each year, Proctorsville 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 Proctorsville's effective property tax rate to other areas and the national median. For comparison, the 05153 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 areas compare with Proctorsville 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 Proctorsville 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 Proctorsville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05153 | 2.18% | 2.19% | 2.19% | 2.20% | 3.47% |
Source: Ownwell
Property Tax Assessment Values Across Proctorsville, Vermont
In Proctorsville, 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 local 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 Proctorsville, 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 Proctorsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Proctorsville are both $4429.00, found in the zip code 05153.
Average Proctorsville Assessed Value
$182,100
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 Proctorsville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05153 | $54,600 | $123,950 | $182,100 | $258,000 | $344,220 |
Source: Ownwell
Property Tax Bills Across Proctorsville, Vermont
In Proctorsville, located in Windsor County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the town's assessor and reflects the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Proctorsville, the median home price stands at $182,100. Property tax bills can vary significantly, with the 25th percentile at $2,950, the 75th percentile at $6,370, and the 90th percentile reaching up to $9,598. These variations depend on the property's assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Proctorsville's tax rates can result in higher tax bills, impacting homeowners' annual expenses. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Proctorsville Tax Bill
$4,429
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Proctorsville, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05153 | $1,195 | $2,950 | $4,429 | $6,370 | $9,598 |
Source: Ownwell