New Canaan, Fairfield County, Connecticut Property Taxes
Median New Canaan, CT effective property tax rate: 1.89%, significantly higher than the national median of 1.02%, but lower than the Connecticut state median of 3.14%.
Median New Canaan, CT home value: $878,255
Median annual New Canaan, CT tax bill: $16,639, $14,239 higher than the national median property tax bill of $2,400.
How are property taxes in Fairfield calculated?
Property taxes in New Canaan, CT are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding New Canaan’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Canaan, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Canaan, Fairfield County, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.89%
Estimate Property Tax Bill
$16,599
$15,403
Property Tax Rates Across New Canaan, Fairfield County, Connecticut
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
New Canaan in Fairfield County, CT, has an effective property tax rate that reflects the county's fiscal needs and the total assessed property value within its boundaries. Compared to the national median property tax rate of 1.02%, New Canaan's rate is notably higher. This can result in higher property tax bills for homeowners, exceeding the national median of $2,400. Understanding how these rates are set and how they compare to other areas in Connecticut and the U.S. can help property owners make informed decisions about their investments and potential savings through tax appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective New Canaan Tax Rate
1.89%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Fairfield County Tax Rate
2.52%
Median Effective Connecticut Tax Rate
3.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Canaan, Fairfield County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06840 | 1.89% | 1.89% | 1.89% | 1.89% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across New Canaan, Fairfield County, Connecticut
When examining property taxes in New Canaan, CT, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Fairfield County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Fairfield County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in New Canaan.
For example, the median home price in New Canaan is $878,255, with tax bills ranging significantly across the county. 06840 has the highest median home price at $878,255.
Property Tax Assessment Values Across New Canaan, Fairfield County, Connecticut
Source: Ownwell
$133,910
$628,705
$1,123,500
Median New Canaan Market Value
$878,255
Median Fairfield County Market Value
$310,800
Median Connecticut Market Value
$189,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Canaan, Fairfield County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06840 | $470,820 | $628,652 | $878,255 | $1,263,640 | $1,769,068 |
Source: Ownwell
Property Tax Bills Across New Canaan, Fairfield County, Connecticut
Property Tax Bills Across New Canaan, Fairfield County, Connecticut
Source: Ownwell
$4,549
$11,839
$19,128
Median New Canaan Tax Bill
$16,639
Median Fairfield County Tax Bill
$8,346
Median Connecticut Tax Bill
$6,162
Median United States Tax Bill
$2,400
Property Tax Bills Across New Canaan, Fairfield County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06840 | $8,917 | $11,914 | $16,639 | $23,934 | $33,506 |
Source: Ownwell