Woodbridge, Connecticut Property Taxes
The median property tax rate in Woodbridge, CT, is 4.51%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Woodbridge at $261,660, the typical annual property tax bill reaches $11,796, far exceeding the national median of $2,690. Property taxes in Woodbridge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Woodbridge'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 Woodbridge 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
Woodbridge, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.51%
Estimate Property Tax Bill
$11,801
Ownwell’s Woodbridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodbridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodbridge 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 Woodbridge, Connecticut
Property taxes in Woodbridge, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodbridge is 4.51%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Woodbridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodbridge 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 Woodbridge's effective property tax rate to other areas in Connecticut and the national median. For comparison, the 06525 zip code has the highest median property tax rate of 4.51%, while the same zip code also represents the lowest median tax rate of 4.51%. Understanding how these areas compare with Woodbridge provides valuable insights into the varying tax landscape across New Haven County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodbridge Tax Rate
4.51%
Average New Haven County Tax Rate
3.48%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodbridge, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06525 | 4.51% | 4.51% | 4.51% | 4.51% | 4.51% |
Source: Ownwell
Property Tax Assessment Values Across Woodbridge, Connecticut
In Woodbridge, 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 New Haven 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 Woodbridge, 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 Woodbridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $11,796, found in the 06525 zip code, which also has the lowest median tax bill of the same amount.
Average Woodbridge Assessed Value
$261,660
Average New Haven County Assessed Value
$174,720
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodbridge, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06525 | $175,364 | $215,740 | $261,660 | $324,800 | $437,332 |
Source: Ownwell
Property Tax Bills Across Woodbridge, Connecticut
In Woodbridge, CT, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Woodbridge is $261,660. Property taxes are determined by multiplying the assessed value by the local tax rate. The tax rate in Woodbridge is significantly higher than the national median of 0.99%, resulting in substantial tax bills for homeowners. Several factors influence the final tax bill, including property size, location, and improvements. For instance, the 25th percentile tax bill in Woodbridge is $9,713, while the 75th percentile reaches $14,633, and the 90th percentile soars to $19,715. The highest median tax bill in the area is $11,796, recorded in the 06525 zip code. High property taxes can impact homeowners by increasing the cost of owning a home, potentially affecting affordability and long-term financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances effectively.
Average Woodbridge Tax Bill
$11,796
Average New Haven County Tax Bill
$6,350
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodbridge, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06525 | $7,900 | $9,713 | $11,796 | $14,633 | $19,715 |
Source: Ownwell