Barkhamsted, Connecticut Property Taxes
The median property tax rate in Barkhamsted, CT is 3.13%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Barkhamsted at $177,370, the typical annual property tax bill reaches $5,612, exceeding the national median of $2,690. Property taxes in Barkhamsted 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 Barkhamsted'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 Barkhamsted 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
Barkhamsted, Connecticut Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
3.14%
Estimate Property Tax Bill
$6,280
Ownwell’s Barkhamsted Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barkhamsted with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barkhamsted 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 Barkhamsted, Connecticut
Property taxes in Barkhamsted, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barkhamsted is 3.13%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Barkhamsted set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barkhamsted 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 Barkhamsted's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06063 zip code has the highest median property tax rate of 3.13%, while the same zip code also has the lowest median tax rate of 3.13%. Understanding how these cities compare with Barkhamsted provides valuable insights into the varying tax landscape across Hartford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barkhamsted Tax Rate
3.13%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barkhamsted, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06063 | 2.81% | 2.93% | 3.13% | 3.33% | 3.46% |
Source: Ownwell
Property Tax Assessment Values Across Barkhamsted, Connecticut
In Barkhamsted, 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 Hartford 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 Barkhamsted, 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 Barkhamsted is $177,370, with tax bills ranging from $5,027 at the 25th percentile to $6,548 at the 90th percentile. The highest and lowest median tax bills, both at $5,612, are found in zip code 06063. By understanding 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 Barkhamsted helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Barkhamsted, Connecticut
Source: Ownwell
$24,328
$180,489
$336,650
Average Barkhamsted Assessed Value
$177,370
Average Hartford County Assessed Value
$166,460
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barkhamsted, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06063 | $165,874 | $170,185 | $177,370 | $184,555 | $188,866 |
Source: Ownwell
Property Tax Bills Across Barkhamsted, Connecticut
In Barkhamsted, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The town's tax rate, also known as the mill rate, is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $177,370, homeowners can expect varying tax bills depending on their property's specific assessment and any applicable exemptions. Several factors influence the tax bill, including the property's location within Hartford County, the condition and size of the home, and any local improvements or amenities. The tax bill for the 25th percentile is approximately $5,027, while those in the 75th percentile can expect around $6,197. At the 90th percentile, the tax bill reaches about $6,548. For homeowners in Barkhamsted, understanding these factors is crucial as property taxes significantly impact annual expenses. Comparing these figures to the national median property tax rate of 0.99%, it is evident that local rates and assessed values play a pivotal role in determining the final tax obligation.
Average Barkhamsted Tax Bill
$5,612
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Barkhamsted, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06063 | $4,676 | $5,027 | $5,612 | $6,197 | $6,548 |
Source: Ownwell