Example of Grand Isle County Property Tax Calculation
In Grand Isle County, property tax is calculated based on the value of the property. The county uses a tax rate of $1.75 per $100 of assessed value.
For example, if a property is assessed at $200,000, the calculation would be as follows:
$200,000 (assessed value) รท 100 = $2,000 $2,000 x $1.75 (tax rate) = $3,500 (property tax for the year)
Therefore, the property owner would owe $3,500 in property taxes for the year in Grand Isle County. It is important to note that property tax rates and assessment values may vary depending on location and other factors.
If you want appeal your property tax assessment - contact your local tax assessor.
Grand Isle County Property Tax Rates
The following table lists the Grand Isle County Property Tax Rates as of the current year:
| Tax | Rate per $100 Assessed Value |
|---|---|
| General Fund Tax | $1.9605 |
| Education Tax | $1.5187 |
| Municipal Tax | $0.5265 |
| Local Agreement Tax | $0.0234 |
| State Education Tax | $0.0087 |
Note that the rates may vary depending on the specific property and its assessed value. It is recommended to consult with a professional tax advisor for personalized advice.
Who sets property tax rates in Grand Isle County ?
Property tax rates in Grand Isle County are set by the Grand Isle County Board of Tax Commissioners. The board is responsible for assessing the value of all taxable property within the county and determining the tax rate necessary to fund local government services.
The board meets annually to determine the property tax rate for the upcoming fiscal year. They take into account factors such as the county's budgetary needs, property values, and any changes in state law or local ordinances that may affect the tax rate.
Once the tax rate is determined, property owners in Grand Isle County will receive a tax bill based on the assessed value of their property and the current tax rate. It's important for property owners to stay informed about the tax rate and any changes that may impact their tax bill.
When is Grand Isle County Property Tax due ?
Grand Isle County Property Tax is typically due on or before October 15th of each year. The tax bill is mailed out no later than September 15th. Property owners have several payment methods available to them, including:
| Payment Method | Details |
|---|---|
| Pay online | Property owners can pay their property taxes online through the Grand Isle County website using a credit card or e-check. |
| Pay by mail | Property owners can mail a check or money order to the Grand Isle County Treasurer's Office. The address is listed on the tax bill. |
| Pay in person | Property owners can pay in person at the Grand Isle County Treasurer's Office. The office is located in the County Courthouse at 9 Hyde Road in Grand Isle, Vermont. |
It is important to note that failure to pay property taxes on time can result in penalties and interest charges. Property owners who have questions about their tax bill or payment options should contact the Grand Isle County Treasurer's Office for assistance.
If you have more questions - contact your local tax collector.
Homestead exemptions in Grand Isle County ?
To help homeowners in Grand Isle County, Vermont take advantage of Homestead exemptions and deductions, the following table lists all county-specific information for exemption, eligibility, amount, and notes.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Primary residence | $10,000 | Available to all Vermont homeowners who declare their residence as their primary residence |
| Elderly and Disabled Homestead Exemption | Primary residence and 65+ years or disabled | $40,000 | Only available for the primary residence of those who are 65 years or older, or who are permanently disabled. Household income restrictions apply |
| Veteran's Exemption | Veteran and primary residence | $10,000 | Available to veterans who served during wartime or who were disabled in the line of duty. Must own and occupy the primary residence |
| Solar Energy System Exemption | Primary residence with solar energy system | 100% exemption | The exemption applies to solar energy systems installed after April 1, 2009, and is only available for primary residences |
| Farm Equipment Exemption | Farm property | 100% exemption | Available for farm equipment used for agriculture, such as tractors and farm implements |
| Forest Management Exemption | Forestland | 100% exemption | Available for forestland managed under a forest management plan |
| Current Use Program | Agricultural, forest land | Based on the use of the land | Available for agricultural and forest land that meets certain land use requirements. Enrollment in the program is required |
It is important to note that some exemptions and deductions may require additional documentation or qualifications, so homeowners in Grand Isle County should check with their local tax assessor for more information. By taking advantage of these exemptions and deductions, homeowners can potentially reduce their property tax burden and save money.
How is Grand Isle County Property Tax penalty calculated ?
Grand Isle County Property Tax Penalty Calculation
Grand Isle County imposes a penalty on property owners who fail to pay their property taxes on time. The penalty is calculated as a percentage of the unpaid taxes, and it accrues daily until the taxes are paid in full. Here's how it works:
Penalty Rate: The penalty rate is set by the County and may vary from year to year. As of 2021, the penalty rate in Grand Isle County is 1.5% per month, or 18% per year.
Example Calculation: Suppose a property owner owes $10,000 in property taxes for the 2020 tax year, which are due on September 1, 2020. If the owner fails to pay the taxes by the due date, the penalty begins to accrue on September 2, 2020, at a rate of 1.5% per month.
Here's how the penalty would be calculated:
| Date | Amount Due | Penalty Rate | Penalty Accrued | Total Due |
|---|---|---|---|---|
| Sept. 2 | $10,000 | 1.5% | $150 | $10,150 |
| Oct. 2 | $10,150 | 1.5% | $152.25 | $10,302.25 |
| Nov. 2 | $10,302.25 | 1.5% | $154.53 | $10,456.78 |
| Dec. 2 | $10,456.78 | 1.5% | $156.85 | $10,613.63 |
| Jan. 2 | $10,613.63 | 1.5% | $159.20 | $10,772.83 |
| Feb. 2 | $10,772.83 | 1.5% | $161.59 | $10,934.42 |
| Mar. 2 | $10,934.42 | 1.5% | $164.01 | $11,098.43 |
As you can see from this example, if the property owner fails to pay the taxes for six months, the penalty accrued would be $934.42, bringing the total amount due to $11,098.43. It's important to note that the penalty will continue to accrue until the taxes are paid in full.
In conclusion, property owners in Grand Isle County should make sure to pay their property taxes on time to avoid incurring penalties, which can add up quickly.
We recommend contacting the Grand Isle County Tax Office or a local tax professional for the most up-to-date and accurate information.