Suffield, Connecticut Property Taxes
The median property tax rate in Suffield, CT is 2.86%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Suffield at $200,850, the typical annual property tax bill reaches $5,746, exceeding the national median of $2,690. Property taxes in Suffield 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 Suffield'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 Suffield 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
Suffield, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.86%
Estimate Property Tax Bill
$5,744
Ownwell’s Suffield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Suffield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Suffield 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 Suffield, Connecticut
Property taxes in Suffield, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Suffield is 2.86%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Suffield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Suffield 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 Suffield's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06078 zip code has the highest median property tax rate of 2.86%, while the same zip code also has the lowest median tax rate of 2.86%. Understanding how these cities compare with Suffield 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 Suffield Tax Rate
2.86%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Suffield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06078 | 2.86% | 2.86% | 2.86% | 2.86% | 2.86% |
Source: Ownwell
Property Tax Assessment Values Across Suffield, Connecticut
In Suffield, 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 Suffield, 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 Suffield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Suffield is $200,850, with the highest median tax bill being $5,746 in the 06078 zip code. The lowest median tax bill is also $5,746 in the same zip code. For comparison, the national median property tax rate is 0.99%.
Average Suffield Assessed Value
$200,850
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 Suffield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06078 | $112,056 | $151,060 | $200,850 | $272,528 | $357,105 |
Source: Ownwell
Property Tax Bills Across Suffield, Connecticut
In Suffield, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The local tax rate, known as the mill rate, is then applied to this assessed value to determine the tax owed. For example, with a median home price of $200,850, homeowners can expect to pay a substantial property tax bill. The tax bill can vary significantly, with the 25th percentile at $4,322 and the 75th percentile reaching $7,798. For those in the 90th percentile, the tax bill can soar to $10,217. Several factors influence these amounts, including property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Suffield homeowners face higher rates, reflecting the region's property values and local government funding needs. These taxes significantly impact homeowners, influencing decisions about buying, selling, and maintaining properties. Understanding these factors is crucial for managing financial obligations and planning for the future.
Average Suffield Tax Bill
$5,746
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Suffield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06078 | $3,206 | $4,322 | $5,746 | $7,798 | $10,217 |
Source: Ownwell