Milldale, Connecticut Property Taxes
The median property tax rate in Milldale, CT is 3.04%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Milldale, the typical annual property tax bill reaches $5,269, exceeding the national median of $2,690. Property taxes in Milldale are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Milldale's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Milldale or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Milldale, Connecticut Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
3.14%
Estimate Property Tax Bill
$6,280
Ownwell’s Milldale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milldale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milldale to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Milldale, Connecticut
Property taxes in Milldale, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milldale is 3.04%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Milldale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milldale estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Milldale's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06467 zip code has the highest median property tax rate of 3.04%, while the 06467 zip code also has the lowest median tax rate of 3.04%. Understanding how these cities compare with Milldale provides valuable insights into the varying tax landscape across Hartford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milldale Tax Rate
3.04%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milldale, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06467 | 3.04% | 3.04% | 3.04% | 3.04% | 3.04% |
Source: Ownwell
Property Tax Assessment Values Across Milldale, Connecticut
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Milldale, Hartford County, Connecticut. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by local appraisal districts for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Milldale are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Milldale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Milldale, the zip code with the highest median tax bill is 06467, with a tax bill of $5,269. The zip code with the lowest median tax bill is also 06467, with the same tax bill value.
Average Milldale Assessed Value
$173,545
Average Hartford County Assessed Value
$166,460
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milldale, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06467 | $125,077 | $150,088 | $173,545 | $194,570 | $219,693 |
Source: Ownwell
Property Tax Bills Across Milldale, Connecticut
In Milldale, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is determined through periodic assessments by the local government. Factors influencing the tax bill include the home's market value, property type, and any applicable exemptions. For homeowners in Milldale, located in Hartford County, the property tax rate significantly impacts their annual financial obligations. With a median home price of $173,545, homeowners can expect varying tax bills depending on their property's valuation. The 25th percentile tax bill is around $4,557, while those in the 75th percentile face approximately $5,907. At the 90th percentile, the tax bill can reach up to $6,670. These tax bills are notably higher than the national median property tax rate of 0.99%, reflecting the region's higher property values and tax rates. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Milldale Tax Bill
$5,269
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Milldale, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06467 | $3,797 | $4,557 | $5,269 | $5,907 | $6,670 |
Source: Ownwell