Newtown, Connecticut Property Taxes
The median property tax rate in Newtown, CT is 2.62%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Newtown at $354,680, the typical annual property tax bill reaches $9,307, far exceeding the national median of $2,690. Property taxes in Newtown 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 Newtown'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 Newtown 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
Newtown, 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 Newtown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newtown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newtown 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 Newtown, Connecticut
Property taxes in Newtown, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newtown is 2.62%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Newtown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newtown 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 Newtown's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06470 zip code has the highest median property tax rate of 2.62%, while the same zip code also has the lowest median tax rate of 2.62%. Understanding how these cities compare with Newtown 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 Newtown Tax Rate
2.62%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newtown, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06470 | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Newtown, Connecticut
In Newtown, 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 county 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 Newtown, 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 Newtown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Newtown is $354,680, with the highest and lowest median tax bills both at $9,307 in the 06470 zip code.
Average Newtown Assessed Value
$354,680
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 Newtown, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06470 | $249,580 | $289,278 | $354,680 | $454,385 | $583,816 |
Source: Ownwell
Property Tax Bills Across Newtown, Connecticut
In Newtown, Fairfield County, CT, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Newtown is $354,680. Homeowners' tax bills are influenced by this assessed value and the local tax rate. For instance, the 25th percentile tax bill is $7,591, while the 75th percentile tax bill reaches $11,926. At the higher end, the 90th percentile tax bill climbs to $15,324. These tax bills are significantly higher than the national median property tax rate of 0.99%, reflecting the higher property values and tax rates in the area. The highest and lowest median tax bills in Newtown are both $9,307, indicating a relatively consistent tax burden across different properties. These taxes fund essential local services, such as public schools, emergency services, and infrastructure, directly impacting the community's quality of life. Homeowners in Newtown need to budget for these substantial property taxes, which are a key consideration when purchasing or owning a home in this area.
Average Newtown Tax Bill
$9,307
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Newtown, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06470 | $6,553 | $7,591 | $9,307 | $11,926 | $15,324 |
Source: Ownwell