05454 Property Tax Rate

Property owners in ZIP code 05454 (Fairfax, Vermont) pay a median of $4,748/year in property taxes on homes valued at $361,000. This translates to an effective tax rate of 1.32%, which is 22% below the Vermont state average of 1.69%.

The monthly property tax burden for a median-valued home in 05454 is approximately $396, which factors into escrow payments on mortgages. This ZIP code is located within Franklin County.

Compared to similar ZIP codes in Vermont, 05454 has higher property taxes. ZIP codes with similar effective rates include 05839 (1.31%) and 05747 (1.32%).

In Fairfax, property taxes represent approximately 4.0% of the median household income of $118,438, providing context for the relative tax burden on homeowners in this area.

Vermont has no statewide assessment cap; your home is subject to town reassessment at purchase price and annually thereafter. Franklin County municipalities provide a Homestead Property Tax Exemption and Education Tax Credit for qualifying primary residences — apply with your town assessor by April 15 to receive these exemptions. File your homestead claim with your Franklin County town assessor within 30 days of purchase to ensure timely processing and exemption eligibility.