Brooklyn, Connecticut Property Taxes
The median property tax rate in Brooklyn, Connecticut is 2.86%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Brooklyn at $157,000, the typical annual property tax bill reaches $4,498, exceeding the national median of $2,690. Property taxes in Brooklyn 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 Brooklyn'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 Brooklyn 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
Brooklyn, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.86%
Estimate Property Tax Bill
$4,490
Ownwell’s Brooklyn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brooklyn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brooklyn 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 Brooklyn, Connecticut
Property taxes in Brooklyn, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brooklyn is 2.86%, significantly higher than both the Connecticut state median of 1.79% and the U.S. national median of 0.99%. Local government entities within Brooklyn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brooklyn 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 Brooklyn's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06234 has the highest median property tax rate of 2.86%, while the same zip code also has the lowest median tax rate of 2.86%. Understanding how these cities compare with Brooklyn provides valuable insights into the varying tax landscape across Windham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brooklyn Tax Rate
2.86%
Average Windham County Tax Rate
2.75%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brooklyn, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06234 | 2.86% | 2.86% | 2.86% | 2.86% | 2.86% |
Source: Ownwell
Property Tax Assessment Values Across Brooklyn, Connecticut
In Brooklyn, 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 local 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 Brooklyn, 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. For instance, the median home price in Brooklyn is $157,000, with tax bills ranging from $3,506 at the 25th percentile to $7,082 at the 90th percentile. The zip code 06234 has the highest median tax bill of $4,498. 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 Brooklyn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brooklyn Assessed Value
$157,000
Average Windham County Assessed Value
$144,900
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brooklyn, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06234 | $100,030 | $122,200 | $157,000 | $199,000 | $247,220 |
Source: Ownwell
Property Tax Bills Across Brooklyn, Connecticut
In Brooklyn, Windham 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. Factors such as property size, location, and improvements can influence this assessed value. For instance, with a median home price of $157,000, homeowners in Brooklyn can expect a range of tax bills. The 25th percentile tax bill is around $3,506, while at the 75th percentile, it rises to $5,687. The 90th percentile tax bill can reach up to $7,082. Comparatively, the national median property tax rate is 0.99%, which highlights how local rates can vary significantly. These tax bills impact homeowners by influencing their overall housing costs. Higher property taxes can increase monthly mortgage payments, while lower taxes can make homeownership more affordable. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average Brooklyn Tax Bill
$4,498
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Brooklyn, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06234 | $2,897 | $3,506 | $4,498 | $5,687 | $7,082 |
Source: Ownwell