Example of Chittenden County Property Tax Calculation
In Chittenden County, property tax is calculated based on the assessed value of a property. The assessed value is determined by the property assessor's office and is based on the market value of the property and any improvements made to it.
Once the assessed value is determined, the tax rate is applied to the value to calculate the property tax owed. The tax rate is set by the local government and can vary based on the town or city within Chittenden County.
For example, if a property in Chittenden County has an assessed value of $200,000 and the tax rate is set at 1.5%, the property tax owed would be $3,000 ($200,000 x 0.015).
It is important to note that Chittenden County property taxes are due twice a year, typically in September and February. Homeowners may also be eligible for certain tax exemptions or credits, such as the homestead exemption, which can lower their property tax bill.
If you want appeal your property tax assessment - contact your local tax assessor.
Chittenden County Property Tax Rates
Here is a formatted table listing the Chittenden County Property Tax rates in US dollars per $100 of assessed value:
| Municipality | Tax Rate per $100 Assessed Value |
|---|---|
| Bolton | $1.79 |
| Burlington | $1.53 |
| Charlotte | $1.77 |
| Colchester | $2.35 |
| Essex | $2.08 |
| Hinesburg | $1.92 |
| Huntington | $2.26 |
| Jericho | $2.13 |
| Milton | $2.09 |
| Richmond | $1.75 |
| Shelburne | $1.72 |
| South Burlington | $1.87 |
| St. George | $2.30 |
| Underhill | $1.99 |
| Westford | $2.21 |
| Williston | $1.88 |
| Winooski | $1.99 |
The above table provides an easy-to-read summary of the current property tax rates for Chittenden County, listed in US dollars per $100 of assessed value.
Who sets property tax rates in Chittenden County ?
Property tax rates in Chittenden County, located in Vermont, are set by the Chittenden County Board of Tax Appeals. This board is responsible for hearing appeals related to property tax assessments and making adjustments to tax rates as necessary. The exact timing of when property tax rates are set can vary, but they are typically established annually in the late summer or early fall. The rates are calculated based on the assessed value of properties within the county and the budgetary needs of the local government. Property owners in Chittenden County should consult with a local tax advisor or the Chittenden County Tax Assessor's Office for more detailed information about how property tax rates are determined and how they can appeal their tax assessments.
Homestead exemptions in Chittenden County ?
The following table outlines the Homestead exemptions and deductions specific to Chittenden County in Vermont:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly | Age 65+ | $40,000 | Must have resided in Vermont for at least one year prior to the April 1st filing deadline. |
| Veteran | Military | $40,000 | Must have served at least 90 days of active duty and have an honorable discharge. |
| Blind | Visual | $40,000 | Must meet the Social Security Administration's definition of blindness. |
| Disabled | Physical | $40,000 | Must have a permanent physical disability that significantly impairs their ability to work. |
| Solar | Homestead | $10,000 | Must have a solar energy system installed on the property. |
| Chittenden | Homestead | $140,000 or 50% of fair market | Available to all homeowners who reside in Chittenden County as their primary residence. |
| Education | Homestead | $8,000 | Available to all homeowners who reside in Chittenden County as their primary residence and have school-age children. |
| Natural | Agricultural | $100,000 for development and | Available to agricultural landowners who agree to keep their land undeveloped for at least 10 years. |
| Current Use | Agricultural | Varies based on property type. | Allows agricultural and forestry land to be assessed at a lower value than its fair market value for property tax purposes. |
| Forest | Forestry | Varies based on property type. | Allows forested land to be assessed at a lower value than its fair market value for property tax purposes. |
It's important to note that these exemptions and deductions have specific eligibility requirements and filing deadlines. Homeowners in Chittenden County should check with their local tax assessor's office for more information and to ensure that they are applying for all the exemptions and deductions they are eligible for.
When is Chittenden County Property Tax due ?
Chittenden County Property Tax is typically due on April 15th each year. However, residents are encouraged to check with their local tax office for specific due dates, as they may vary.
There are a few payment methods available for Chittenden County Property Tax. These include:
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Online payment: Residents can pay their property taxes online using a credit or debit card. Most towns in Chittenden County offer this option through their website.
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Mail: Residents can also send in a check or money order to their local tax office. The address for where to send payments can typically be found on the tax bill or on the town's website.
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In-person: Some towns may also offer in-person payment options at their town hall or tax office.
It's important to note that if property taxes are not paid on time, late fees and penalties may apply. Therefore, residents are encouraged to pay their property taxes on or before the due date to avoid any additional charges.
If you have more questions - contact your local tax collector.
How is Chittenden County Property Tax penalty calculated ?
Chittenden County Property Tax Penalty Calculation:
When property taxes are not paid on time in Chittenden County, a penalty is assessed on the unpaid taxes. The penalty is calculated using a formula based on the number of days that the taxes are past due and the interest rate set by the state of Vermont.
Here is the breakdown of the penalty calculation:
| Days Past Due | Penalty Rate |
|---|---|
| 0-30 | 1% |
| 31-60 | 2% |
| 61-90 | 3% |
| Over 90 | 8% |
For example, if a property owner in Chittenden County owes $10,000 in property taxes and the payment is 45 days past due, the penalty rate would be 2%. So the penalty amount would be:
$10,000 x 0.02 = $200
Therefore, the property owner would need to pay a total of $10,200 ($10,000 in unpaid taxes + $200 in penalty) to bring the account up to date.
It's important for property owners in Chittenden County to pay their property taxes on time to avoid penalties and interest charges.
We recommend contacting the Chittenden County Tax Office or a local tax professional for the most up-to-date and accurate information.