Example of Addison County Property Tax Calculation
Addison County Property Tax calculation can be explained in simple terms for a 10-year-old. The county determines property taxes based on the assessed value of the property. This means that county officials determine the value of the property, which is how much it is worth, and then use that value to calculate the tax owed.
For example, if a property is assessed at $100,000, and the tax rate is 1%, the property owner would owe $1,000 in taxes. The tax rate is usually expressed as a percentage of the assessed value. In Addison County, property taxes are due on October 15th and April 15th each year, and failure to pay can result in interest and penalties.
It is important to note that property taxes are used to fund local government services such as schools, roads, and public safety. Therefore, it is important for property owners to pay their fair share of taxes to support the community.
If you want appeal your property tax assessment - contact your local tax assessor.
Addison County Property Tax Rates
Here is a formatted table of Addison County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Town of Addison | $1.917 |
| City of Vergennes | $1.876 |
| Town of Bridport | $1.836 |
| Town of Bristol | $1.776 |
| Town of Cornwall | $1.850 |
| Town of Ferrisburgh | $1.867 |
| Town of Goshen | $1.807 |
| Town of Granville | $1.896 |
| Town of Hancock | $2.016 |
| Town of Leicester | $1.845 |
| Town of Lincoln | $1.850 |
| Town of Middlebury | $1.827 |
| Town of Monkton | $1.760 |
| Town of New Haven | $1.816 |
| Town of Orwell | $1.976 |
| Town of Panton | $1.810 |
| Town of Ripton | $1.917 |
| Town of Salisbury | $1.816 |
| Town of Shoreham | $1.810 |
| Town of Starksboro | $1.716 |
| Town of Waltham | $1.916 |
| Town of Weybridge | $1.890 |
| Town of Whiting | $1.966 |
These rates are subject to change, and individuals should consult with a local tax advisor for more specific and up-to-date information.
Who sets property tax rates in Addison County ?
Who sets property tax rates in Addison County?
The property tax rates in Addison County are determined by a few different entities, including:
| Entity | Role |
|---|---|
| Addison County Board of Supervisors | Sets the county tax rate based on the county budget |
| Local school boards | Set the school tax rate based on the school budget |
| Town selectboards | Set the town tax rate based on the town budget |
When are property tax rates set in Addison County?
The property tax rates in Addison County are typically set in the late summer or early fall, after the county, school, and town budgets have been finalized. Property owners will receive their tax bills in late August or early September, with payment due in two installments in November and May.
It's important to note that property tax rates can vary widely from town to town within Addison County, depending on factors like local budgets, property values, and the tax rates set by the state. Property owners should consult with their local assessor or tax collector for more information about their specific tax rate and payment schedule.
Homestead exemptions in Addison County ?
To help homeowners in Addison County, Vermont, understand their property tax exemptions and deductions, the following table presents all county-specific Homestead exemptions and deductions:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead | Primary | 10% deduction on property value | Applies to primary residences only |
| Prebate | Income-based | Varies based on income and property | Provides partial or full exemption based on household income and property value. Application required. |
| Elderly | 65+ years | Varies based on income and property | Provides partial or full exemption for seniors with limited income and property value. Application required. |
| Veteran | Service | $40,000 exemption on property value | Applies to veterans who served during wartime or received a Purple Heart. Must have lived in Vermont for at least 10 years. |
| Disability | Medical | $40,000 exemption on property value | Applies to homeowners with a permanent disability. Must have lived in Vermont for at least 10 years. |
| Solar energy | Property | 100% exemption on solar equipment | Applies to properties with solar energy systems installed. Must be approved by the Town Assessor. |
| Forest land | Property | Varies based on acreage and use | Provides property tax relief for land actively used for forestry purposes. |
Note that eligibility requirements and exemption amounts may differ depending on the specific town or city within Addison County. It's always a good idea to check with the local tax assessor's office for more information on available exemptions and deductions.
When is Addison County Property Tax due ?
Addison County Property Tax Due Date and Payment Methods
Addison County Property Tax is typically due on October 15th every year. However, taxpayers have the option to make two installment payments if their tax bill exceeds $100.
Here are the payment methods available for Addison County Property Tax:
| Payment Method | Details |
|---|---|
| Taxpayers may mail a check or money order to the Addison County Treasurer's Office. The mailing address is provided on the tax bill. | |
| In-Person | Taxpayers may pay in person at the Addison County Treasurer's Office. The office is located at 7 Mahady Court, Middlebury, Vermont. |
| Online | Taxpayers may pay online through the official website of Addison County, Vermont. A convenience fee may be charged for this service. |
It is important to note that late payments may result in penalties and interest charges. Taxpayers are advised to pay their property tax on time to avoid any additional fees.
In summary, Addison County Property Tax is typically due on October 15th with the option to make two installment payments. Taxpayers may pay their tax bill through mail, in-person or online methods. Late payments may result in additional fees.
If you have more questions - contact your local tax collector.
How is Addison County Property Tax penalty calculated ?
Addison County Property Tax Penalty Calculation
The Addison County Property Tax penalty is calculated based on the amount of tax owed and the number of days the payment is late. The penalty rate in Addison County is 1% per month, with a maximum penalty of 8%.
For example, if a homeowner in Addison County owes $3,000 in property taxes and fails to pay on time, the penalty calculation would be as follows:
| Amount of Tax Owed | Penalty Rate | Number of Months Late | Penalty Amount |
|---|---|---|---|
| $3,000 | 1% | 1 month | $30 |
| $3,000 | 1% | 2 months | $60 |
| $3,000 | 1% | 3 months | $90 |
| $3,000 | 1% | 4 months | $120 |
| $3,000 | 1% | 5 months | $150 |
| $3,000 | 1% | 6 months | $180 |
| $3,000 | 1% | 7 months | $210 |
| $3,000 | 1% | 8 or more months | $240 (maximum) |
In this example, if the homeowner paid their property tax payment 7 months late, they would owe an additional $210 in penalties on top of their original $3,000 tax bill.
It's important to pay property taxes on time to avoid penalties and interest charges, which can add up quickly over time. If you have questions or need more information about property taxes in Addison County, reach out to the county tax collector's office for assistance.
We recommend contacting the Addison County Tax Office or a local tax professional for the most up-to-date and accurate information.