Central Village, Connecticut Property Taxes
The median property tax rate in Central Village, CT is 2.31%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Central Village, the typical annual property tax bill reaches $3,840, exceeding the national median of $2,690. Property taxes in Central Village 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 Central Village'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 Central Village 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
Central Village, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.31%
Estimate Property Tax Bill
$3,846
Ownwell’s Central Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Central Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Central Village 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 Central Village, Connecticut
Property taxes in Central Village, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Central Village is 2.31%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Central Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Central Village 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 Central Village's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06332 zip code has the highest median property tax rate of 2.31%, while the same zip code also has the lowest median tax rate of 2.31%. Understanding how these cities compare with Central Village 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 Central Village Tax Rate
2.31%
Average Windham County Tax Rate
2.75%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Central Village, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06332 | 2.31% | 2.31% | 2.31% | 2.31% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Central Village, Connecticut
In Central Village, 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 Central Village, 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. In Central Village, the highest median tax bill is $3,840 in the 06332 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Central Village, Connecticut
Source: Ownwell
$61,135
$147,188
$233,240
Average Central Village Assessed Value
$166,500
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 Central Village, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06332 | $121,618 | $145,590 | $166,500 | $190,060 | $223,834 |
Source: Ownwell
Property Tax Bills Across Central Village, Connecticut
In Central Village, 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, known as the mill rate, is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $166,500, homeowners can expect property taxes to range significantly. The 25th percentile tax bill is approximately $3,358, while the 75th percentile tax bill reaches around $4,384, and the 90th percentile tax bill can be as high as $5,163. These tax bills impact homeowners by contributing to their overall housing costs, influencing decisions on buying, selling, or investing in property. Compared to the national median property tax rate of 0.99%, the property taxes in Central Village can be relatively high, reflecting the local government's funding needs for public services such as schools, infrastructure, and emergency services. Understanding these factors helps homeowners budget accordingly and anticipate future expenses.
Average Central Village Tax Bill
$3,840
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Central Village, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06332 | $2,805 | $3,358 | $3,840 | $4,384 | $5,163 |
Source: Ownwell