Clerk/Treasurer’s Office

Tax Rates and Calculations

 
July 1, 2023- June 30, 2024

The appraised values are the basis for the distribution of the City's annual property tax levy. The Grand List Book is an inventory of approximately 10,689 taxable real estate parcels and 252 business personal property accounts. Property appraised values are based on an estimation of fair market value. The Assessor's Department has guidelines for insuring fair tax assessments for all property owners throughout the City.

Click here for the Property Tax Calculator →

FY 2024 Tax Rates

Education
   Homestead: 1.4485
   Non-Homestead: 1.4591

Municipal
   Tax Rate: 0.7523
   Local Agreement: 0.0005
 


 

For information about HS-122 and the Vermont Homestead, click here.  
​For instructions on calculating properties with partial Business and/or Rental use, please contact the Assessor's Department

Formula for Calculating Taxes for a Residential Property with no Business or Rental Use

[Appraised Value] ÷ 100 = [Grand List Value]

[Grand List Value] x [Education Rate] = [Education Tax]

[Grand List Value] x [Municipal Rate] = [Municipal Tax]

[Grand List Value] x Local Agreement Rate] = [Local Agreement Tax]

Total Property Tax = [Municipal Tax] + [Education Tax] + [Local Agreement Tax]

Formula for Calculating Taxes for a Commercial Property

[Appraised Value] ÷ 100 = [Appraised Grand List Value]

([Appraised Value] x 1.2) ÷ 100 = [Assessed Grand List Value]

[Assessed Grand List Value] x [Municipal Tax Rate] = [Municipal Tax]

[Appraised Grand List Value] x [Non-Homestead Education Rate] = [Education Tax]

[Appraised Grand List Value] x Local Agreement Rate] = [Local Agreement Tax]

Total Property Tax = [Municipal Tax] + [Education Tax] + [Local Agreement Tax]

Property taxes are divided into quarterly payments. Payments are due on the 12th of August, November, March, and June each year. In the event that the 12th falls on a weekend, payments are due the next business day.