Oakdale, Connecticut Property Taxes
The median property tax rate in Oakdale, CT is 2.78%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Oakdale, the typical annual property tax bill reaches $4,502, exceeding the national median of $2,690. Property taxes in Oakdale 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 Oakdale'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 Oakdale 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
Oakdale, 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 Oakdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakdale 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 Oakdale, Connecticut
Property taxes in Oakdale, Connecticut, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakdale is 2.78%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Oakdale set these rates annually, and they can vary across different neighborhoods. Each year, Oakdale 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 Oakdale's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06370 zip code has the highest median property tax rate of 2.78%, while the 06370 zip code also has the lowest median tax rate of 2.78%. Understanding how these cities compare with Oakdale provides valuable insights into the varying tax landscape across New London County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakdale Tax Rate
2.78%
Average New London County Tax Rate
2.72%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakdale, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06370 | 2.78% | 2.78% | 2.78% | 2.78% | 2.78% |
Source: Ownwell
Property Tax Assessment Values Across Oakdale, Connecticut
In Oakdale, 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 London 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 Oakdale, 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 Oakdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Oakdale, the zip code 06370 has the highest and lowest median tax bill at $4,502.
Average Oakdale Assessed Value
$162,120
Average New London County Assessed Value
$177,100
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakdale, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06370 | $114,520 | $134,295 | $162,120 | $222,565 | $267,400 |
Source: Ownwell
Property Tax Bills Across Oakdale, Connecticut
In Oakdale, New London County, CT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local authorities and is typically a percentage of the market value of the property. Homeowners in Oakdale experience varying tax bills, with the 25th percentile paying around $3,729 and those in the 75th percentile facing bills up to $6,181. The highest median tax bill in the area is $4,502, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and improvements. These taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. Consequently, higher property taxes can impact homeowners by increasing their annual expenses, but they also contribute to the overall quality of life in the community. Understanding these elements is crucial for homeowners to anticipate their financial obligations and the benefits they receive in return.
Average Oakdale Tax Bill
$4,502
Average New London County Tax Bill
$4,738
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakdale, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06370 | $3,180 | $3,729 | $4,502 | $6,181 | $7,426 |
Source: Ownwell