Randolph Center, Vermont Property Taxes
The median property tax rate in Randolph Center, VT is 2.62%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in Randolph Center, the typical annual property tax bill reaches $4,655, exceeding the national median of $2,690. Property taxes in Randolph Center 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 Randolph Center'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 Randolph Center 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
Randolph Center, 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 Randolph Center Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph Center with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph Center 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 Randolph Center, Vermont
Property taxes in Randolph Center, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph Center stands at 2.62%, significantly higher than the U.S. national median of 0.99%. Local government entities within Randolph Center set these rates annually, and they can vary across different neighborhoods. Each year, Randolph Center 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 Randolph Center's effective property tax rate to other regions in Vermont and the national median. For comparison, the 05061 zip code has both the highest and lowest median property tax rate of 2.62%. Understanding how these areas compare with Randolph Center 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 Randolph Center Tax Rate
2.62%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05061 | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Randolph Center, Vermont
In Randolph Center, 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 Randolph Center, 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 Randolph Center helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 05061 has both the highest and lowest median tax bills at $4,655, providing a benchmark for homeowners in the area.
Property Tax Assessment Values Across Randolph Center, Vermont
Source: Ownwell
$52,800
$511,925
$971,050
Average Randolph Center Assessed Value
$177,400
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 Randolph Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05061 | $174,360 | $175,500 | $177,400 | $179,300 | $180,440 |
Source: Ownwell
Property Tax Bills Across Randolph Center, Vermont
Property tax bills in Randolph Center, situated in Windsor County, VT, are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the town's assessor, who evaluates the property's market value. In Randolph Center, the median home price stands at $177,400. Homeowners in this region face a property tax bill that typically falls between $4,605 and $4,735, with the highest median tax bill recorded at $4,655 in the 05061 zip code. These figures are significantly higher than the national median property tax rate of 0.99%, reflecting the local tax rate and the assessed property values. Factors such as property improvements, neighborhood developments, and changes in the local economy can influence the assessed value, thereby affecting the tax bill. For homeowners, understanding these factors is crucial as they can significantly impact annual property tax expenses.
Average Randolph Center Tax Bill
$4,655
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph Center, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05061 | $4,575 | $4,605 | $4,655 | $4,705 | $4,735 |
Source: Ownwell