East Granby, Connecticut Property Taxes
The median property tax rate in East Granby, CT is 3.63%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in East Granby, the typical annual property tax bill reaches $6,206, exceeding the national median of $2,690. Property taxes in East Granby 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 East Granby'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 East Granby 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
East Granby, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.63%
Estimate Property Tax Bill
$6,205
Ownwell’s East Granby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Granby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Granby 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 East Granby, Connecticut
Property taxes in EAST GRANBY, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in EAST GRANBY is 3.63%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within EAST GRANBY set these rates annually, and they can vary significantly across different neighborhoods. Each year, EAST GRANBY 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 EAST GRANBY's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06026 zip code has the highest median property tax rate of 3.63%, while the same 06026 zip code has the lowest median tax rate of 3.63%. Understanding how these cities compare with EAST GRANBY 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 East Granby Tax Rate
3.63%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Granby, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06026 | 3.63% | 3.63% | 3.63% | 3.63% | 3.63% |
Source: Ownwell
Property Tax Assessment Values Across East Granby, Connecticut
In East Granby, 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 East Granby, 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 East Granby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 06026 has the highest and lowest median tax bill, both at $6,206.
Property Tax Assessment Values Across East Granby, Connecticut
Source: Ownwell
$24,328
$180,489
$336,650
Average East Granby Assessed Value
$170,950
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 East Granby, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06026 | $68,400 | $142,225 | $170,950 | $214,650 | $265,450 |
Source: Ownwell
Property Tax Bills Across East Granby, Connecticut
In East Granby, located in Hartford County, CT, property tax bills are calculated based on the assessed value of a home, which is typically 70% of its market value. For instance, with a median home price of $170,950, the assessed value would be approximately $119,665. The local mill rate is then applied to this assessed value to determine the tax bill. Factors like property improvements, neighborhood developments, and market trends can influence the assessed value, causing fluctuations in the annual tax bill. Homeowners in East Granby experience a range of tax bills. At the 25th percentile, tax bills are around $5,159, while those at the 75th percentile see bills of about $7,792. The 90th percentile tax bill goes up to $9,636. Compared to the national median property tax rate of 0.99%, East Granby's tax rates reflect the local government's funding needs and the area's property values. These property taxes significantly impact homeowners, influencing their financial planning and the overall cost of homeownership.
Average East Granby Tax Bill
$6,206
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across East Granby, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06026 | $2,483 | $5,159 | $6,206 | $7,792 | $9,636 |
Source: Ownwell