New Fairfield, Connecticut Property Taxes
The median property tax rate in New Fairfield, CT is 3.49%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in New Fairfield, the typical annual property tax bill reaches $7,755, exceeding the national median of $2,690. Property taxes in New Fairfield 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 New Fairfield'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 New Fairfield 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
New Fairfield, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.49%
Estimate Property Tax Bill
$7,755
$7,196
Ownwell’s New Fairfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Fairfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Fairfield 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 New Fairfield, Connecticut
Property taxes in New Fairfield, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Fairfield is 3.49%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Fairfield set these rates annually, and they can vary across different neighborhoods. Each year, New Fairfield 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 New Fairfield's effective property tax rate to other areas in Fairfield County and the national median. For comparison, the zip code 06812 has the highest median property tax rate of 3.49%, while the same zip code also has the lowest median tax rate of 3.49%. Understanding how these cities compare with New Fairfield 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 New Fairfield Tax Rate
3.49%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Fairfield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06812 | 3.49% | 3.49% | 3.49% | 3.49% | 3.49% |
Source: Ownwell
Property Tax Assessment Values Across New Fairfield, Connecticut
In New Fairfield, 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 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 New Fairfield, 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 New Fairfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in New Fairfield is $222,200, with the highest median tax bill found in zip code 06812 at $7,755.
Property Tax Assessment Values Across New Fairfield, Connecticut
Source: Ownwell
$44,380
$583,940
$1,123,500
Average New Fairfield Assessed Value
$222,200
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 New Fairfield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06812 | $142,380 | $178,200 | $222,200 | $288,900 | $388,540 |
Source: Ownwell
Property Tax Bills Across New Fairfield, Connecticut
In New Fairfield, CT, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate, or mill rate, is then applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For instance, in Fairfield County, the median home price is $222,200, and homeowners can expect a median tax bill of $7,755. This is significantly higher than the national median property tax rate of 0.99%, reflecting the area's higher property values and tax rates. The tax bill can vary widely; the 25th percentile tax bill is $6,219, while the 75th percentile reaches $10,083, and the 90th percentile can go up to $13,560. These figures indicate that property taxes can be a substantial financial consideration for homeowners in New Fairfield, impacting their overall cost of living and potentially influencing decisions about property purchases and improvements.
Average New Fairfield Tax Bill
$7,755
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across New Fairfield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06812 | $4,966 | $6,219 | $7,755 | $10,083 | $13,560 |
Source: Ownwell