Somersville, Connecticut Property Taxes
The median property tax rate in Somersville, CT is 2.83%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Somersville at $172,100, the typical annual property tax bill reaches $4,872, exceeding the national median of $2,690. Property taxes in Somersville 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 Somersville'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 Somersville 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
Somersville, 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 Somersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Somersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Somersville 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 Somersville, Connecticut
Property taxes in Somersville, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Somersville is 2.83%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Somersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Somersville 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 Somersville's effective property tax rate to other areas in Connecticut and the national median. For comparison, the zip code 06072 has the highest median property tax rate of 2.83%, while the same zip code also has the lowest median tax rate of 2.83%. Understanding how these areas compare with Somersville provides valuable insights into the varying tax landscape across Tolland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Somersville Tax Rate
2.83%
Average Tolland County Tax Rate
3.34%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Somersville, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06072 | 2.83% | 2.83% | 2.83% | 2.83% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Somersville, Connecticut
In Somersville, 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 Tolland 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 Somersville, 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 Somersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 06072, amounting to $4,872, while the lowest median tax bill is also in the same zip code at $4,872.
Property Tax Assessment Values Across Somersville, Connecticut
Source: Ownwell
$20,800
$274,665
$528,530
Average Somersville Assessed Value
$172,100
Average Tolland County Assessed Value
$164,900
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Somersville, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06072 | $125,250 | $132,075 | $172,100 | $211,450 | $219,500 |
Source: Ownwell
Property Tax Bills Across Somersville, Connecticut
In Somersville, Tolland County, CT, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the market value, which is determined by local assessors. Homeowners in Somersville face property tax bills that can vary significantly. For instance, the 25th percentile tax bill is $3,739, while the 75th percentile tax bill reaches $5,986. At the 90th percentile, homeowners might see bills as high as $6,214. Compared to the national median property tax rate of 0.99%, homeowners in Somersville experience a higher tax burden. This higher rate can significantly impact household budgets, making it crucial for homeowners to understand how their tax bills are determined. Factors such as property improvements, neighborhood changes, and local budget requirements also play a role in these calculations. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan accordingly.
Average Somersville Tax Bill
$4,872
Average Tolland County Tax Bill
$5,464
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Somersville, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06072 | $3,546 | $3,739 | $4,872 | $5,986 | $6,214 |
Source: Ownwell