Guilford, Connecticut Property Taxes
The median property tax rate in Guilford, CT is 2.59%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Guilford at $330,295, the typical annual property tax bill reaches $8,548, significantly exceeding the national median of $2,690. Property taxes in Guilford 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 Guilford'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 Guilford 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
Guilford, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.59%
Estimate Property Tax Bill
$8,555
Ownwell’s Guilford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guilford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guilford 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 Guilford, Connecticut
Property taxes in Guilford, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guilford is 2.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Guilford set these rates annually, and they can vary across different neighborhoods. Each year, Guilford 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 Guilford's effective property tax rate to other areas in New Haven County and the national median. For comparison, the 06437 zip code has the highest median property tax rate of 2.59%, while the lowest median tax rate is also 2.59%. Understanding how these areas compare with Guilford provides valuable insights into the varying tax landscape across New Haven County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Guilford Tax Rate
2.59%
Average New Haven County Tax Rate
3.48%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guilford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06437 | 2.59% | 2.59% | 2.59% | 2.59% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Guilford, Connecticut
In Guilford, 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 New Haven 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 Guilford, 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 Guilford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Guilford is $330,295, with tax bills ranging from $6,909 at the 25th percentile to $15,699 at the 90th percentile. The highest and lowest median tax bills in the area are both $8,548, found in the 06437 zip code.
Average Guilford Assessed Value
$330,295
Average New Haven County Assessed Value
$174,720
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Guilford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06437 | $204,680 | $266,752 | $330,295 | $442,698 | $606,585 |
Source: Ownwell
Property Tax Bills Across Guilford, Connecticut
In Guilford, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate, known as the mill rate, is applied to this assessed value to calculate the tax bill. Factors such as property size, location, and condition play significant roles in determining the assessed value. For homeowners, this means that the higher the market value of their property, the higher their tax bill will be. In Guilford, the median home price is $330,295, resulting in varying tax bills. Homeowners in the 25th percentile pay around $6,909, while those in the 75th percentile face bills of about $11,457. The top 10% of homeowners can expect to pay as much as $15,699. Comparatively, the median tax bill in Guilford is $8,548, which is significantly higher than the national median property tax rate of 0.99%. This underscores the importance for homeowners to understand how local property tax calculations impact their annual expenses.
Average Guilford Tax Bill
$8,548
Average New Haven County Tax Bill
$6,350
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Guilford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06437 | $5,301 | $6,909 | $8,548 | $11,457 | $15,699 |
Source: Ownwell