East Hampton, Connecticut Property Taxes
The median property tax rate in East Hampton, CT is 3.61%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in East Hampton at $168,345, the typical annual property tax bill reaches $6,050, far exceeding the national median of $2,690. Property taxes in East Hampton 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 East Hampton'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 East Hampton 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
East Hampton, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.61%
Estimate Property Tax Bill
$6,077
Ownwell’s East Hampton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Hampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Hampton 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 East Hampton, Connecticut
Property taxes in East Hampton, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Hampton is 3.61%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within East Hampton set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Hampton 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 East Hampton's effective property tax rate to other areas in Connecticut and the national median. For comparison, the zip code 06424 has the highest median property tax rate of 3.61%, while the same zip code also has the lowest median tax rate of 3.61%. Understanding how these cities compare with East Hampton provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Hampton Tax Rate
3.61%
Average Middlesex County Tax Rate
2.98%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Hampton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06424 | 3.61% | 3.61% | 3.61% | 3.61% | 3.61% |
Source: Ownwell
Property Tax Assessment Values Across East Hampton, Connecticut
In East Hampton, 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 local 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 East Hampton, 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. East Hampton's median home price is $168,345, with tax bills ranging from $4,817 at the 25th percentile to $9,962 at the 90th percentile. The highest and lowest median tax bills are both $6,050, found in zip code 06424. 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 East Hampton, Connecticut
Source: Ownwell
$152,250
$270,445
$388,640
Average East Hampton Assessed Value
$168,345
Average Middlesex County Assessed Value
$200,100
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Hampton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06424 | $105,913 | $133,735 | $168,345 | $218,212 | $276,715 |
Source: Ownwell
Property Tax Bills Across East Hampton, Connecticut
In East Hampton, CT, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The tax rate, known as the mill rate, is applied to this assessed value to determine the annual property tax bill. Various factors influence the assessed value, including the property's size, location, and condition. Homeowners in East Hampton can expect varying tax bills. For instance, the tax bill at the 25th percentile is $4,817, while at the 75th percentile, it reaches $7,854. At the 90th percentile, the tax bill can be as high as $9,962. These figures indicate a significant range in property tax burdens, reflecting the diversity in property values within the area. Compared to the national median property tax rate of 0.99%, East Hampton's property tax bills can be relatively high, impacting homeowners' annual expenses. Understanding these factors is crucial for homeowners as they plan their finances and consider the long-term costs of owning property in this region.
Average East Hampton Tax Bill
$6,050
Average Middlesex County Tax Bill
$5,804
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across East Hampton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06424 | $3,816 | $4,817 | $6,050 | $7,854 | $9,962 |
Source: Ownwell