Richmond, Chittenden County, Vermont Property Taxes

Name: Property Tax Bills Across Richmond, Chittenden County, Vermont
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Richmond, VT effective property tax rate: 2.49%, significantly higher than the national median of 1.02%, but lower than the Vermont state median of 2.11%.
Median Richmond, VT home value: $251,850
Median annual Richmond, VT tax bill: $6,597, $4,197 higher than the national median property tax bill of $2,400.

How are property taxes in Chittenden calculated?

Property taxes in Richmond, VT are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Richmond’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Richmond, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Richmond, Chittenden County, Vermont Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.49%

Estimate Property Tax Bill

$6,271

$5,819

Ownwell’s Richmond Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richmond with just two data points. By entering your property's estimated assessed value, our calculator applies Richmond’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Chittenden County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Richmond, Chittenden County, Vermont

Local government entities in Vermont, like in many other states, determine tax rates that can vary significantly within the state. Each county, including Chittenden, estimates its required budget annually to provide essential services. This budget is divided by the total value of all taxable property within the jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process. In Richmond, located in Chittenden County, the effective property tax rate is 2.49%. This rate is notably higher than the national median of 1.02%, reflecting the local government's budgetary needs and property values. When compared to other cities in Vermont, Richmond's rate is consistent with the highest and lowest median rates within the state. This comparison underscores the importance of understanding local tax obligations and exploring potential tax appeal and exemption opportunities. By doing so, property owners can ensure they are not overpaying and can better manage their financial responsibilities.

Property Tax Rates Across Richmond, Chittenden County, Vermont

Source: Ownwell

0.51%

2.91%

5.31%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Richmond Tax Rate

2.49%

Median Effective Chittenden County Tax Rate

1.83%

Median Effective Vermont Tax Rate

2.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Richmond, Chittenden County, Vermont

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
05477	2.49%	2.49%	2.49%	2.50%	2.50%

Source: Ownwell

Property Tax Assessment Values Across Richmond, Chittenden County, Vermont

When examining property taxes in Richmond, Vermont, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Chittenden County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Chittenden County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Richmond. For example, the median home price in Richmond is $251,850, with tax bills ranging significantly across the county. Zip code 05477 has the highest median home price at $251,850.

Property Tax Assessment Values Across Richmond, Chittenden County, Vermont

Source: Ownwell

$183,250

$318,425

$453,600

Median Richmond Market Value

$251,850

Median Chittenden County Market Value

$281,900

Median Vermont Market Value

$199,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Richmond, Chittenden County, Vermont

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
05477	$59,700	$179,725	$251,850	$339,275	$448,950

Source: Ownwell

Property Tax Bills Across Richmond, Chittenden County, Vermont

In Richmond, located in Chittenden County, Vermont, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in Richmond is $251,850. Homeowners in this area face a median tax bill of $6,597, significantly higher than the national median of $2,400. This disparity is due to the local tax rate, which exceeds the national median rate of 1.02%. Factors such as property size, location, and improvements can also influence the assessed value, impacting the final tax bill. Homeowners in Richmond, especially those at the 90th percentile, face tax bills as high as $11,594, which can be a financial burden. Ownwell offers services to help homeowners in Richmond potentially save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing market trends and property assessments, Ownwell assists homeowners in ensuring their property is fairly assessed, potentially lowering their tax liabilities and alleviating financial pressure.

Property Tax Bills Across Richmond, Chittenden County, Vermont

Source: Ownwell

$4,441

$8,881

Median Richmond Tax Bill

$6,597

Median Chittenden County Tax Bill

$5,508

Median Vermont Tax Bill

$3,843

Median United States Tax Bill

$2,400

Property Tax Bills Across Richmond, Chittenden County, Vermont

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
05477	$1,524	$5,226	$6,597	$8,814	$11,594

Source: Ownwell