Middle Haddam, Connecticut Property Taxes
The median property tax rate in Middle Haddam, CT is 3.61%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Middle Haddam, the typical annual property tax bill reaches $7,234, exceeding the national median of $2,690. Property taxes in Middle Haddam 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 Middle Haddam'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 Middle Haddam 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
Middle Haddam, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.61%
Estimate Property Tax Bill
$7,242
Ownwell’s Middle Haddam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middle Haddam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middle Haddam 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 Middle Haddam, Connecticut
Property taxes in Middle Haddam, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middle Haddam is 3.61%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Middle Haddam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middle Haddam 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 Middle Haddam's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06456 zip code has the highest median property tax rate of 3.61%, while the same zip code also has the lowest median tax rate of 3.61%. Understanding how these cities compare with Middle Haddam provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middle Haddam Tax Rate
3.61%
Average Middlesex County Tax Rate
2.98%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middle Haddam, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06456 | 3.61% | 3.61% | 3.61% | 3.61% | 3.61% |
Source: Ownwell
Property Tax Assessment Values Across Middle Haddam, Connecticut
In Middle Haddam, 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 Middlesex 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 Middle Haddam, 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. Being aware of these valuation processes in Middle Haddam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 06456 has both the highest and lowest median tax bills at $7,234, underscoring the importance of understanding these concepts to manage property taxes effectively.
Property Tax Assessment Values Across Middle Haddam, Connecticut
Source: Ownwell
$152,250
$270,445
$388,640
Average Middle Haddam Assessed Value
$200,620
Average Middlesex County Assessed Value
$200,100
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middle Haddam, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06456 | $147,296 | $170,058 | $200,620 | $232,785 | $307,004 |
Source: Ownwell
Property Tax Bills Across Middle Haddam, Connecticut
In Middle Haddam, Middlesex County, CT, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value. Homeowners in this region see their tax bills influenced by the local tax rate applied to this assessed value. With a median home price of $200,620, residents face property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is around $6,132, while at the 75th percentile, it rises to approximately $8,394. At the higher end, the 90th percentile tax bill reaches $11,071. These figures highlight the substantial impact property taxes can have on homeowners' finances. Compared to the national median property tax rate of 0.99%, Middle Haddam's property tax bills are notably higher, reflecting the region's specific economic and policy conditions. Understanding these factors is crucial for homeowners planning their budgets and financial strategies.
Average Middle Haddam Tax Bill
$7,234
Average Middlesex County Tax Bill
$5,804
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Middle Haddam, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06456 | $5,311 | $6,132 | $7,234 | $8,394 | $11,071 |
Source: Ownwell