Canterbury, Connecticut Property Taxes
The median property tax rate in Canterbury, CT is 2.30%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With a median home value of $157,400 in Canterbury, the typical annual property tax bill reaches $3,627, surpassing the national median of $2,690. Property taxes in Canterbury are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Canterbury's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Canterbury or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Canterbury, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$3,620
Ownwell’s Canterbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canterbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canterbury 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 Canterbury, Connecticut
Property taxes in Canterbury, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canterbury is 2.30%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Canterbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canterbury 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 Canterbury's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06331 has the highest median property tax rate of 2.30%, while the same zip code has the lowest median tax rate of 2.30%. Understanding how these cities compare with Canterbury 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 Canterbury Tax Rate
2.30%
Average Windham County Tax Rate
2.75%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canterbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06331 | 2.30% | 2.30% | 2.30% | 2.30% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Canterbury, Connecticut
In Canterbury, 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 Windham 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 Canterbury, 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 Canterbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $3,627, found in the 06331 zip code.
Average Canterbury Assessed Value
$157,400
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 Canterbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06331 | $101,100 | $127,800 | $157,400 | $200,800 | $250,900 |
Source: Ownwell
Property Tax Bills Across Canterbury, Connecticut
In Canterbury, located in Windham County, CT, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate, or mill rate, is then applied to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, a median home price in Canterbury is $157,400, and the tax bill can vary significantly across different percentiles. Homeowners in the 25th percentile face an annual tax bill of approximately $2,942, while those in the 75th percentile pay around $4,653. The 90th percentile sees tax bills as high as $5,789. The national median property tax rate is 0.99%, making Canterbury's tax burden relatively high. These property taxes fund essential local services, including schools, public safety, and infrastructure, directly impacting the quality of life for Canterbury residents.
Average Canterbury Tax Bill
$3,627
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Canterbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06331 | $2,328 | $2,942 | $3,627 | $4,653 | $5,789 |
Source: Ownwell