Property Tax Lawyers in Lyndon
Laws of Lyndon, Vermont require all property owners to pay a tax on the value of their property. Property taxes only apply to real property (as opposed to personal property). This includes land, buildings, and assets that are permanently or semi-permanently attached to the land.
The property tax in Lyndon, Vermont is simply a percentage of a piece of property's appraised value, paid to the state and/or local government on a periodic - usually annual - basis.
Usually, the federal government does not collect property taxes anywhere in the U.S. Property taxes are collected almost exclusively by state and local authorities.
How Property Tax is Calculated in Lyndon, Vermont
Most often, property taxes in Lyndon, Vermont are simply a set percentage of the property's value. Across the country, state authorities impose a wide range of different tax rates. The highest rates in the country are in the area of 5% of the property's value, and the lowest are less than 1%.
To collect the property tax in a fair and consistent manner, Lyndon, Vermont tax authorities need to have an objective formula for determining the value of land under its jurisdiction.
In many ways, the value of a piece of land is relative. After all, many people ascribe sentimental value to their homes, which goes well beyond its market value. To ensure that the system is fair, the government uses only objective standards to determine value.
To this end, the Lyndon, Vermont appraiser will look at things like the state of the real estate market, the size of the land, the presence of additions to the land such as buildings, and the way in which the property is zoned.
How A Lyndon, Vermont Property Tax Attorney Can Help.
In Lyndon, Vermont, property taxes can become pretty complex. Legal disputes can arise in the property tax context, even if there is no wrongdoing, and the dispute arises from an honest misunderstanding. You might have a good reason to suspect that a mistake was made when your property was appraised, resulting in a higher tax bill than you believe you legally owe, for example.
If you are affected by one of these, or any other, property tax legal issues in Lyndon, Vermont, you should deal with it properly. If you fail to do so, a relatively minor issue can become much more expensive and inconvenient than it might otherwise have been. So, the assistance of a good tax attorney in Lyndon, Vermont is highly useful in avoiding these issues in the first place, or handling them if they do arise.