New Britain, Connecticut Property Taxes
The median property tax rate in New Britain, CT is 3.83%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in New Britain at $152,110, the typical annual property tax bill reaches $5,823, far exceeding the national median of $2,690. Property taxes in New Britain 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 New Britain'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 New Britain 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
New Britain, 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 New Britain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Britain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Britain 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 New Britain, Connecticut
Property taxes in New Britain, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Britain is 3.83%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within New Britain set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Britain 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 New Britain's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06053 has the highest median property tax rate of 3.83%, while zip code 06052 has the lowest median tax rate of 3.83%. Understanding how these areas compare with New Britain 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 New Britain Tax Rate
3.83%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Britain, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06051 | 3.83% | 3.83% | 3.83% | 3.83% | 3.83% |
| 06052 | 3.83% | 3.83% | 3.83% | 3.83% | 3.83% |
| 06053 | 3.83% | 3.83% | 3.83% | 3.83% | 3.83% |
Source: Ownwell
Property Tax Assessment Values Across New Britain, Connecticut
In New Britain, 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 New Britain, 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. For instance, the highest median tax bill in New Britain is $6,838 in zip code 06052, whereas the lowest median tax bill is $5,592 in zip code 06051. 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 New Britain, Connecticut
Source: Ownwell
$24,328
$180,489
$336,650
Average New Britain Assessed Value
$152,110
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 New Britain, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06051 | $90,230 | $120,330 | $146,090 | $178,220 | $208,152 |
| 06052 | $116,550 | $144,270 | $178,710 | $216,580 | $253,680 |
| 06053 | $106,722 | $128,100 | $150,150 | $178,640 | $207,060 |
Source: Ownwell
Property Tax Bills Across New Britain, Connecticut
In New Britain, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. Homeowners in New Britain can expect their property taxes to be influenced by various factors, including the local mill rate and the assessed value of their property. The median home price in New Britain is $152,110, but tax bills can vary significantly. For instance, homeowners in the 25th percentile face tax bills around $4,869, while those in the 75th percentile see bills closer to $7,055. At the 90th percentile, tax bills can reach up to $8,261. The highest median tax bill in New Britain is $6,838 in the 06052 zip code, whereas the lowest is $5,592 in the 06051 zip code. These property taxes are crucial for funding local services such as schools and public safety, making them a significant consideration for homeowners. The local property tax rate often exceeds the national median rate of 0.99%, reflecting the region's specific funding needs and property values.
Average New Britain Tax Bill
$5,823
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across New Britain, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06051 | $3,454 | $4,606 | $5,592 | $6,822 | $7,968 |
| 06052 | $4,462 | $5,523 | $6,838 | $8,288 | $9,711 |
| 06053 | $4,084 | $4,904 | $5,748 | $6,836 | $7,919 |
Source: Ownwell