Northfield, Connecticut Property Taxes
The median property tax rate in Northfield, CT is 2.67%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Northfield at $166,500, the typical annual property tax bill reaches $4,446, exceeding the national median of $2,690. Property taxes in Northfield 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 Northfield'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 Northfield 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
Northfield, 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 Northfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Northfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Northfield 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 Northfield, Connecticut
Property taxes in Northfield, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Northfield is 2.67%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Northfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Northfield 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 Northfield's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06778 zip code has the highest median property tax rate of 2.67%, while the same zip code also has the lowest median tax rate of 2.67%. Understanding how these cities compare with Northfield provides valuable insights into the varying tax landscape across Litchfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Northfield Tax Rate
2.67%
Average Litchfield County Tax Rate
2.91%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Northfield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06778 | 2.67% | 2.67% | 2.67% | 2.67% | 2.67% |
Source: Ownwell
Property Tax Assessment Values Across Northfield, Connecticut
In Northfield, 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 Litchfield 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 Northfield, 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. The highest median tax bill in Northfield is found in the 06778 zip code, amounting to $4,446. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Northfield Assessed Value
$166,500
Average Litchfield County Assessed Value
$166,200
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Northfield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06778 | $111,642 | $133,470 | $166,500 | $219,745 | $289,162 |
Source: Ownwell
Property Tax Bills Across Northfield, Connecticut
In Northfield, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the mill rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or modifications made to the home. Homeowners in Northfield, located in Litchfield County, experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $3,564, while at the 75th percentile, it rises to $5,867. At the 90th percentile, homeowners may face a tax bill as high as $7,721. These figures are notably higher than the national median property tax rate of 0.99%. Understanding these factors and how they impact the tax bill is crucial for homeowners in Northfield. Higher property taxes can affect overall affordability and long-term financial planning, making it essential to stay informed and possibly seek exemptions or appeals to manage costs effectively.
Average Northfield Tax Bill
$4,446
Average Litchfield County Tax Bill
$5,031
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Northfield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06778 | $2,981 | $3,564 | $4,446 | $5,867 | $7,721 |
Source: Ownwell