South Glastonbury, Connecticut Property Taxes
The median property tax rate in South Glastonbury, CT is 3.25%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in South Glastonbury, the typical annual property tax bill reaches $12,615, exceeding the national median of $2,690. Property taxes in South Glastonbury 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 South Glastonbury'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 South Glastonbury 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
South Glastonbury, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.25%
Estimate Property Tax Bill
$12,631
Ownwell’s South Glastonbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Glastonbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Glastonbury 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 Middlesex County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across South Glastonbury, Connecticut
Property taxes in South Glastonbury, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Glastonbury is 3.25%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within South Glastonbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Glastonbury 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 South Glastonbury's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06073 zip code has both the highest and lowest median property tax rate of 3.25%. Understanding how these areas compare with South Glastonbury 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 South Glastonbury Tax Rate
3.25%
Average Middlesex County Tax Rate
2.98%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Glastonbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06073 | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% |
Source: Ownwell
Property Tax Assessment Values Across South Glastonbury, Connecticut
In South Glastonbury, 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 South Glastonbury, 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 South Glastonbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $12,615, found in the 06073 zip code.
Property Tax Assessment Values Across South Glastonbury, Connecticut
Source: Ownwell
$152,250
$270,445
$388,640
Average South Glastonbury Assessed Value
$388,640
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 South Glastonbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06073 | $270,452 | $285,320 | $388,640 | $461,580 | $504,882 |
Source: Ownwell
Property Tax Bills Across South Glastonbury, Connecticut
In South Glastonbury, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the home's location, size, and any improvements made to the property. Homeowners in South Glastonbury, located in Middlesex County, experience varying tax bills depending on these factors. For instance, the tax bill at the 25th percentile is $9,261, while at the 75th percentile, it reaches $14,983. The highest median tax bill in the area is $12,615, which is significantly above the national median property tax rate of 0.99%. These high tax bills can impact homeowners by increasing the overall cost of owning a home, potentially affecting affordability and long-term financial planning.
Average South Glastonbury Tax Bill
$12,615
Average Middlesex County Tax Bill
$5,804
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across South Glastonbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06073 | $8,779 | $9,261 | $12,615 | $14,983 | $16,389 |
Source: Ownwell