Granby, Connecticut Property Taxes
The median property tax rate in Granby, CT is 3.19%, significantly higher than both the national median of 0.99% and Connecticut's state median of 3.14%. With a median home value of $223,755 in Granby, the typical annual property tax bill reaches $7,162, far exceeding the national median of $2,690. Property taxes in Granby are determined based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Granby'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 Granby or another part of Hartford County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Granby, 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 Granby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in 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 Granby, Connecticut
Property taxes in Granby, Connecticut, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granby is 3.19%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Granby set these rates annually, and they can vary across different neighborhoods. Each year, 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 Granby's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06035 zip code has the highest median property tax rate of 3.19%, while the same zip code also has the lowest median tax rate of 3.19%. Understanding how these cities compare with 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 Granby Tax Rate
3.19%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granby, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06035 | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% |
Source: Ownwell
Property Tax Assessment Values Across Granby, Connecticut
In 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 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 Granby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 06035, with a median tax bill of $7,162.
Average Granby Assessed Value
$223,755
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 Granby, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06035 | $155,001 | $182,122 | $223,755 | $273,788 | $331,195 |
Source: Ownwell
Property Tax Bills Across Granby, Connecticut
In Granby, located in Hartford County, CT, property tax bills are calculated based on the assessed value of a home, which is determined by the town's assessor. This assessed value is a percentage of the property's market value. Granby’s property tax rate is applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $223,755, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is approximately $5,830, while the 75th percentile tax bill reaches around $8,759, and the 90th percentile tax bill can be as high as $10,634. These tax rates and bills are notably higher than the national median property tax rate of 0.99%, reflecting the local government's funding needs for public services such as schools, infrastructure, and emergency services. Homeowners in Granby should be aware of these factors as they significantly impact their annual expenses, influencing both affordability and long-term financial planning.
Average Granby Tax Bill
$7,162
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Granby, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06035 | $4,997 | $5,830 | $7,162 | $8,759 | $10,634 |
Source: Ownwell