Bolton, Connecticut Property Taxes
The median property tax rate in Bolton, CT is 4.38%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Bolton, the typical annual property tax bill reaches $7,778, exceeding the national median of $2,690. Property taxes in Bolton 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 Bolton'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 Bolton 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
Bolton, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.38%
Estimate Property Tax Bill
$7,775
Ownwell’s Bolton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bolton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bolton to provide an accurate property tax bill estimate. This valuable tool helps you understand potential tax liabilities, ensuring you are well-prepared for any financial obligations. For those interested in exploring trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Bolton, Connecticut
Property taxes in Bolton, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bolton is 4.38%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Bolton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bolton 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 Bolton's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06043 zip code has the highest median property tax rate of 4.38%, while the same zip code also has the lowest median tax rate of 4.38%. Understanding how these cities compare with Bolton provides valuable insights into the varying tax landscape across Tolland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bolton Tax Rate
4.38%
Average Tolland County Tax Rate
3.34%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bolton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06043 | 4.38% | 4.38% | 4.38% | 4.38% | 4.38% |
Source: Ownwell
Property Tax Assessment Values Across Bolton, Connecticut
In Bolton, 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 Tolland County Assessor 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 Bolton, 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 Bolton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 06043, with a median tax bill of $7,778.
Average Bolton Assessed Value
$177,500
Average Tolland County Assessed Value
$164,900
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bolton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06043 | $109,000 | $137,500 | $177,500 | $230,200 | $294,100 |
Source: Ownwell
Property Tax Bills Across Bolton, Connecticut
In Bolton, CT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value typically represents a percentage of the property's market value. Homeowners in Bolton face property tax bills that are influenced by several factors, including the town’s tax rate and the assessed value of their property. For example, the median home price in Bolton is $177,500. Property tax bills can vary significantly, with the 25th percentile at $6,010 and the 75th percentile reaching $10,087. The highest median tax bill in the area is $7,778, with the lowest being the same, indicating a consistent tax rate across different properties. These tax rates can have a considerable impact on homeowners, affecting their annual expenses and potentially influencing their decisions on property investments. Compared to the national median property tax rate of 0.99%, Bolton’s property taxes are relatively high, which can be a crucial factor for prospective buyers and current homeowners to consider.
Average Bolton Tax Bill
$7,778
Average Tolland County Tax Bill
$5,464
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Bolton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06043 | $4,737 | $6,010 | $7,778 | $10,087 | $12,887 |
Source: Ownwell