Winsted, Connecticut Property Taxes
The median property tax rate in Winsted, CT is 2.64%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Winsted, the typical annual property tax bill reaches $3,938, exceeding the national median of $2,690. Property taxes in Winsted 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 Winsted'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 Winsted 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
Winsted, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.64%
Estimate Property Tax Bill
$3,931
Ownwell’s Winsted Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winsted with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winsted 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 Winsted, Connecticut
Property taxes in Winsted, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winsted is 2.64%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Winsted set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winsted 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 Winsted's effective property tax rate to other areas in Connecticut and the national median. For comparison, the 06063 zip code has the highest median property tax rate of 3.39%, while the 06098 zip code has the lowest median tax rate of 2.64%. Understanding how these areas compare with Winsted 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 Winsted Tax Rate
2.64%
Average Litchfield County Tax Rate
2.91%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winsted, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06063 | 3.39% | 3.39% | 3.39% | 3.39% | 3.39% |
| 06098 | 2.64% | 2.64% | 2.64% | 2.64% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Winsted, Connecticut
In Winsted, 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 Assessor's Office 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 Winsted, 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. The median home price in Winsted is $148,890, with the 25th percentile tax bill at $3,104 and the 75th percentile tax bill at $5,494. The highest median tax bill is $6,492 in the 06063 zip code, while the lowest median tax bill is $3,929 in the 06098 zip code. 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 Winsted helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Winsted Assessed Value
$148,890
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 Winsted, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06063 | $132,000 | $157,710 | $191,280 | $215,450 | $239,850 |
| 06098 | $95,669 | $117,128 | $148,715 | $206,500 | $344,505 |
Source: Ownwell
Property Tax Bills Across Winsted, Connecticut
In Winsted, located in Litchfield County, CT, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. This assessed value is typically a percentage of the property's market value. Homeowners in Winsted face property tax bills that vary significantly, with the 25th percentile tax bill at $3,104 and the 75th percentile reaching $5,494. For those in the 90th percentile, tax bills can soar to $9,078. These figures are notably higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any improvements made. For instance, the highest median tax bill in the area is $6,492 in the 06063 zip code, while the lowest is $3,929 in the 06098 zip code. These property taxes directly impact homeowners by affecting their overall housing costs and potentially influencing their decisions on property investments and home improvements.
Average Winsted Tax Bill
$3,938
Average Litchfield County Tax Bill
$5,031
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Winsted, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06063 | $4,480 | $5,353 | $6,492 | $7,312 | $8,140 |
| 06098 | $2,524 | $3,098 | $3,929 | $5,456 | $9,104 |
Source: Ownwell