North Grosvenordale, Connecticut Property Taxes
The median property tax rate in North Grosvenordale, CT is 2.60%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in North Grosvenordale, the typical annual property tax bill reaches $3,479, exceeding the national median of $2,690. Property taxes in North Grosvenordale 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 North Grosvenordale'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 North Grosvenordale 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
North Grosvenordale, 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 North Grosvenordale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Grosvenordale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Grosvenordale 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 North Grosvenordale, Connecticut
Property taxes in North Grosvenordale, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Grosvenordale is 2.60%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within North Grosvenordale set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Grosvenordale 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 North Grosvenordale's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06255 has both the highest and lowest median property tax rate of 2.60%. Understanding how these cities compare with North Grosvenordale provides valuable insights into the varying tax landscape across Windham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Grosvenordale Tax Rate
2.60%
Average Windham County Tax Rate
2.75%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Grosvenordale, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06255 | 2.60% | 2.60% | 2.60% | 2.60% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across North Grosvenordale, Connecticut
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in North Grosvenordale, Connecticut. 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 Windham 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 North Grosvenordale, 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. The highest median tax bill in North Grosvenordale is $3,479 in the 06255 zip code, which is also the lowest median tax bill. 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 North Grosvenordale, Connecticut
Source: Ownwell
$61,135
$147,188
$233,240
Average North Grosvenordale Assessed Value
$133,800
Average Windham County Assessed Value
$144,900
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Grosvenordale, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06255 | $90,980 | $109,525 | $133,800 | $177,875 | $223,540 |
Source: Ownwell
Property Tax Bills Across North Grosvenordale, Connecticut
In North Grosvenordale, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. The tax rate, also known as the mill rate, is then applied to this assessed value to calculate the tax bill. Various factors influence the assessed value, including the property's size, location, condition, and any improvements made. Homeowners in North Grosvenordale can expect a range of property tax bills. For instance, the 25th percentile tax bill is approximately $2,848, while the 75th percentile tax bill is around $4,624. At the higher end, the 90th percentile tax bill reaches $5,812. These figures reflect how property taxes can vary significantly depending on individual property assessments. Compared to the national median property tax rate of 0.99%, homeowners in North Grosvenordale experience a higher tax burden. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average North Grosvenordale Tax Bill
$3,479
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across North Grosvenordale, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06255 | $2,366 | $2,848 | $3,479 | $4,624 | $5,812 |
Source: Ownwell