Bridgeport, Connecticut Property Taxes
The median property tax rate in Bridgeport, CT is 4.35%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Bridgeport, the typical annual property tax bill reaches $6,475, exceeding the national median of $2,690. Property taxes in Bridgeport 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 Bridgeport'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 Bridgeport 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
Bridgeport, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.35%
Estimate Property Tax Bill
$6,483
$6,016
Ownwell’s Bridgeport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bridgeport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bridgeport 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 Bridgeport, Connecticut
Property taxes in Bridgeport, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgeport is 4.35%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Bridgeport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgeport 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 Bridgeport's effective property tax rate to other areas in Connecticut and the national median. For comparison, the 06602 zip code has the highest median property tax rate of 4.35%, while the 06610 zip code has the lowest median tax rate of 4.34%. Understanding how these areas compare with Bridgeport provides valuable insights into the varying tax landscape across Fairfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bridgeport Tax Rate
4.35%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgeport, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06602 | 4.34% | 4.34% | 4.35% | 4.35% | 4.35% |
| 06604 | 4.34% | 4.34% | 4.35% | 4.35% | 4.35% |
| 06605 | 4.34% | 4.34% | 4.35% | 4.35% | 4.35% |
| 06606 | 4.34% | 4.34% | 4.35% | 4.35% | 4.35% |
| 06607 | 4.34% | 4.34% | 4.34% | 4.35% | 4.35% |
| 06608 | 4.34% | 4.34% | 4.35% | 4.35% | 4.35% |
| 06610 | 4.34% | 4.34% | 4.34% | 4.35% | 4.35% |
Source: Ownwell
Property Tax Assessment Values Across Bridgeport, Connecticut
In Bridgeport, 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 Fairfield County Assessor's Office 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 Bridgeport, 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 Bridgeport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $9,939 in zip code 06602, while the lowest is $5,818 in zip code 06610.
Property Tax Assessment Values Across Bridgeport, Connecticut
Source: Ownwell
$44,380
$583,940
$1,123,500
Average Bridgeport Assessed Value
$149,030
Average Fairfield County Assessed Value
$310,800
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bridgeport, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06602 | $175,437 | $195,428 | $228,745 | $262,062 | $282,053 |
| 06604 | $46,590 | $75,070 | $146,595 | $178,836 | $206,119 |
| 06605 | $99,148 | $134,195 | $173,490 | $227,348 | $270,565 |
| 06606 | $74,190 | $129,232 | $153,300 | $177,090 | $205,499 |
| 06607 | $83,996 | $104,045 | $134,009 | $157,608 | $175,431 |
| 06608 | $56,629 | $97,626 | $137,420 | $167,520 | $192,298 |
| 06610 | $46,080 | $92,540 | $133,910 | $159,645 | $188,180 |
Source: Ownwell
Property Tax Bills Across Bridgeport, Connecticut
In Bridgeport, property tax bills are calculated based on the assessed value of the home, which is a percentage of the market value. The median home price in Bridgeport is $149,030. Homeowners in Fairfield County, where Bridgeport is located, experience a range of property tax bills. For example, homes in the 25th percentile have tax bills around $4,867, while those in the 75th percentile face bills of approximately $7,723. The 90th percentile sees tax bills as high as $9,173. The highest median tax bill in Bridgeport is $9,939, found in the 06602 zip code, while the lowest median tax bill is $5,818 in the 06610 zip code. These tax bills significantly impact homeowners by influencing their overall housing costs and potentially affecting their decisions on buying or selling property. Compared to the national median property tax rate of 0.99%, Bridgeport's rates can be considerably higher, reflecting the local government's need for revenue to fund public services.
Average Bridgeport Tax Bill
$6,475
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgeport, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06602 | $7,623 | $8,492 | $9,939 | $11,386 | $12,255 |
| 06604 | $2,024 | $3,262 | $6,370 | $7,770 | $8,956 |
| 06605 | $4,308 | $5,831 | $7,538 | $9,878 | $11,756 |
| 06606 | $3,224 | $5,614 | $6,661 | $7,695 | $8,929 |
| 06607 | $3,650 | $4,521 | $5,822 | $6,848 | $7,622 |
| 06608 | $2,460 | $4,242 | $5,971 | $7,279 | $8,355 |
| 06610 | $2,002 | $4,020 | $5,818 | $6,936 | $8,176 |
Source: Ownwell