Broad Brook, Connecticut Property Taxes
The median property tax rate in Broad Brook, CT is 3.44%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Broad Brook at $135,865, the typical annual property tax bill reaches $4,671, exceeding the national median of $2,690. Property taxes in Broad Brook 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 Broad Brook'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 Broad Brook 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
Broad Brook, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.44%
Estimate Property Tax Bill
$4,674
Ownwell’s Broad Brook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Broad Brook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Broad Brook 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 Broad Brook, Connecticut
Property taxes in Broad Brook, Connecticut, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Broad Brook is 3.44%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Broad Brook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Broad Brook 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 Broad Brook's effective property tax rate to other areas in Hartford County and the national median. For comparison, the 06016 zip code has the highest median property tax rate of 3.44%, while the same zip code also has the lowest median tax rate of 3.44%. Understanding how these areas compare with Broad Brook 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 Broad Brook Tax Rate
3.44%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Broad Brook, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06016 | 3.44% | 3.44% | 3.44% | 3.44% | 3.44% |
Source: Ownwell
Property Tax Assessment Values Across Broad Brook, Connecticut
In Broad Brook, 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 Broad Brook, 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 example, the median home price is $135,865, with tax bills ranging from $3,715 at the 25th percentile to $7,721 at the 90th percentile. The highest and lowest median tax bills are both $4,671 in zip code 06016. 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 Broad Brook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Broad Brook, Connecticut
Source: Ownwell
$24,328
$180,489
$336,650
Average Broad Brook Assessed Value
$135,865
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 Broad Brook, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06016 | $91,412 | $108,070 | $135,865 | $179,720 | $224,582 |
Source: Ownwell
Property Tax Bills Across Broad Brook, Connecticut
In Broad Brook, Hartford County, CT, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in Broad Brook, the property tax bills vary significantly, reflecting differences in property values and individual assessments. For instance, the tax bill at the 25th percentile is $3,715, while at the 75th percentile, it rises to $6,179. The 90th percentile sees tax bills as high as $7,721. Comparing these figures to the national median property tax rate of 0.99%, Broad Brook's property taxes can be relatively high, impacting homeowners' annual expenses significantly. The highest and lowest median tax bills in the area are both recorded at $4,671 in zip code 06016, highlighting a consistent tax burden across different properties.
Average Broad Brook Tax Bill
$4,671
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Broad Brook, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06016 | $3,143 | $3,715 | $4,671 | $6,179 | $7,721 |
Source: Ownwell