Property taxes vary town, building type, and of course, assessed value. And yes, property taxes are high in Vermont, whether you’re talking about residential or investment property.
For properties listed for sale on the Multiple Listing Service, the tax bills are usually available. But if not, or for properties that aren’t listed for sale, there are always ways of finding the assessed value and the amount of the tax. Call or email Green Light Real Estate, and we can look those up for you in about 15 seconds.
While it is possible to challenge the assessed value of a property, it doesn’t actually happen very often. And when it does, the change is pretty small. Safe to figure that whatever the current tax liability is, you’re going to be paying that same amount. Except when it goes up next year. Because it’s going to.
Examples:
A recent $150,000 listing in Barre City had a tax bill of $6126. And a recent $190,000 duplex that sold in Montpelier had a tax bill of $5054. (link to GLRE sold multi-family custom search)
Make sure to put accurate numbers into your analysis. Or at least accurate estimates. A couple thousand dollars error in your estimate can wipe out a lot of monthly cash flow.