Woodbury, Connecticut Property Taxes
The median property tax rate in Woodbury, CT is 2.25%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Woodbury at $282,345, the typical annual property tax bill reaches $6,353, exceeding the national median of $2,690. Property taxes in Woodbury 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 Woodbury'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 Woodbury 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
Woodbury, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$6,353
Ownwell’s Woodbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodbury 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 Woodbury, Connecticut
Property taxes in Woodbury, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodbury is 2.25%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Woodbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodbury estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 Woodbury's effective property tax rate to other areas in Connecticut and the national median. For comparison, the zip code 06798 has the highest median property tax rate of 2.25%, while the same zip code also has the lowest median tax rate of 2.25%. Understanding how these areas compare with Woodbury 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 Woodbury Tax Rate
2.25%
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 Woodbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06798 | 2.25% | 2.25% | 2.25% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Woodbury, Connecticut
In Woodbury, 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 local authorities 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 Woodbury, 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. The median home price in Woodbury is $282,345, with tax bills ranging from $5,752 at the 25th percentile to $7,314 at the 90th percentile. The highest and lowest median tax bills are both $6,353 in the 06798 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Woodbury Assessed Value
$282,345
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 Woodbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06798 | $239,645 | $255,658 | $282,345 | $309,032 | $325,045 |
Source: Ownwell
Property Tax Bills Across Woodbury, Connecticut
In Woodbury, New Haven County, CT, 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 by the town's assessor. Multiple factors influence the assessed value, including the home's size, age, location, and condition. The local tax rate is set by the town and can vary annually based on budgetary needs. Homeowners in Woodbury face property tax bills that can significantly impact their finances. For instance, the median home price in Woodbury is $282,345, and property tax bills range from $5,752 at the 25th percentile to $7,314 at the 90th percentile. The highest and lowest median tax bills in the area are both $6,353, reflecting the town's consistent tax policy. Compared to the national median property tax rate of 0.99%, Woodbury's rates are relatively high, which can be a crucial consideration for current and prospective homeowners.
Average Woodbury Tax Bill
$6,353
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 Woodbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06798 | $5,392 | $5,752 | $6,353 | $6,954 | $7,314 |
Source: Ownwell