Gaylordsville, Connecticut Property Taxes
The median property tax rate in Gaylordsville, CT is 2.90%, significantly higher than both the national median of 0.99% and Connecticut's state median of 3.14%. With the median home value in Gaylordsville at $206,850, the typical annual property tax bill reaches $5,994, far exceeding the national median of $2,690. Property taxes in Gaylordsville 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 Gaylordsville'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 Gaylordsville 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
Gaylordsville, 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 Gaylordsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gaylordsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gaylordsville 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 Gaylordsville, Connecticut
Property taxes in Gaylordsville, Connecticut, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gaylordsville is 2.90%, significantly higher than the U.S. national median of 0.99%. Local government entities within Gaylordsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gaylordsville 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 Gaylordsville's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06755 zip code has the highest median property tax rate of 2.90%, while the 06755 zip code also has the lowest median tax rate of 2.90%. Understanding how these cities compare with Gaylordsville provides valuable insights into the varying tax landscape across Litchfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gaylordsville Tax Rate
2.90%
Average Litchfield County Tax Rate
2.91%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gaylordsville, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06755 | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Gaylordsville, Connecticut
In Gaylordsville, Connecticut, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 the Litchfield County Appraisal District 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. In Gaylordsville, assessment notices 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. For example, the highest median tax bill in the area is $5,994 in the 06755 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Gaylordsville, Connecticut
Source: Ownwell
$66,800
$516,050
$965,300
Average Gaylordsville Assessed Value
$206,850
Average Litchfield County Assessed Value
$166,200
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gaylordsville, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06755 | $141,699 | $172,542 | $206,850 | $248,615 | $286,751 |
Source: Ownwell
Property Tax Bills Across Gaylordsville, Connecticut
In Gaylordsville, located in Litchfield County, CT, property tax bills are calculated based on the assessed value of a property and the local mill rate. The assessed value is typically a percentage of the market value of the home. For instance, with a median home price of $206,850, the property’s assessed value is determined by local tax assessors. The mill rate, which is set by the local government, is then applied to this assessed value to calculate the property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Gaylordsville can expect a range of tax bills, with the 25th percentile paying around $5,000 and the 75th percentile facing bills up to $7,205. At the 90th percentile, tax bills can reach as high as $8,310. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the local economic conditions and funding requirements for public services in the area. This substantial tax burden can significantly impact homeowners' financial planning and overall cost of living.
Average Gaylordsville Tax Bill
$5,994
Average Litchfield County Tax Bill
$5,031
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Gaylordsville, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06755 | $4,106 | $5,000 | $5,994 | $7,205 | $8,310 |
Source: Ownwell