Addison - Housing Costs - Vermonthomesandtowns.com

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Addison County

Addison
Housing Costs

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Categories: Buying a Home Property Taxes

BUYING A HOME

The average cost of homes sold within the last year was:

$123,750 for a residence with under 6 acres

$84,450 for a residence with over 6 acres

$139,900 for a vacation home with under 6 acres

$505,000 for a vacation home with over 6 acres

PROPERTY TAXES

The 2001-2002 residential property tax rate for every $100 of assessed value was: $0.42 for municipal services and $1.68 for schools

ACT 60

In 1997, the Vermont Legislature passed Act 60, a property tax reform bill designed to equalize educational opportunity among towns. Tax rates for all towns are $1.10 as of July 1, 1999. Each town's tax rates can increase above $1.10 based on school spending decisions made by voters on the local level. Property tax payment might be less for those with household incomes of less than $88,000.

Home costs and Act 60 source: Vermont Department of Taxes

Town tax rate source: Vermont Department of Taxes