Norwalk, Connecticut Property Taxes
The median property tax rate in Norwalk, CT is 2.51%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Norwalk at $276,200, the typical annual property tax bill reaches $6,936, exceeding the national median of $2,690. Property taxes in Norwalk 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 Norwalk'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 Norwalk 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
Norwalk, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$6,933
$6,433
Ownwell’s Norwalk Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Norwalk using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norwalk to provide an estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. For those interested in more granular details, scroll down to explore trends at the neighborhood level. Your property’s assessed value is determined by Fairfield County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Norwalk, Connecticut
Property taxes in Norwalk, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norwalk is 2.51%, significantly higher than the U.S. national median of 0.99%. Local government entities within Norwalk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norwalk 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 Norwalk's effective property tax rate to other areas in Fairfield County and the national median. For comparison, the 06851 zip code has the highest median property tax rate of 2.51%, while the 06853 zip code has the lowest median tax rate of 2.39%. Understanding how these areas compare with Norwalk 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 Norwalk Tax Rate
2.51%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norwalk, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06850 | 2.49% | 2.50% | 2.50% | 2.52% | 2.52% |
| 06851 | 2.50% | 2.50% | 2.51% | 2.52% | 2.52% |
| 06853 | 2.39% | 2.39% | 2.39% | 2.39% | 2.39% |
| 06854 | 2.49% | 2.50% | 2.51% | 2.52% | 2.52% |
| 06855 | 2.49% | 2.51% | 2.51% | 2.51% | 2.51% |
Source: Ownwell
Property Tax Assessment Values Across Norwalk, Connecticut
In Norwalk, 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. 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. In Norwalk, the highest median tax bill is $19,128 in the 06853 zip code, while the lowest median tax bill is $6,003 in the 06854 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Norwalk Assessed Value
$276,200
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 Norwalk, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06850 | $132,614 | $203,870 | $267,360 | $367,870 | $484,487 |
| 06851 | $159,370 | $229,210 | $281,970 | $341,760 | $422,104 |
| 06853 | $444,939 | $580,048 | $799,534 | $1,132,952 | $1,650,229 |
| 06854 | $130,590 | $178,642 | $238,895 | $305,932 | $413,182 |
| 06855 | $186,880 | $246,402 | $307,830 | $407,152 | $577,907 |
Source: Ownwell
Property Tax Bills Across Norwalk, Connecticut
In Norwalk, CT, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The tax rate, or mill rate, is then applied to this assessed value to determine the annual tax bill. Factors such as location, property size, and improvements can influence the assessed value. Homeowners in Norwalk experience varying tax bills depending on their property's assessed value and the specific zip code. For instance, the median tax bill in the 06853 zip code is the highest at $19,128, while the 06854 zip code has the lowest median tax bill at $6,003. These figures highlight a significant range in tax obligations within the city. Compared to the national median property tax rate of 0.99%, Norwalk's tax bills tend to be higher, reflecting the city's property values and local tax policies. This variation in tax bills can significantly impact homeowners' annual expenses, influencing decisions on purchasing and maintaining properties in different parts of Norwalk.
Average Norwalk Tax Bill
$6,936
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Norwalk, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06850 | $3,310 | $5,119 | $6,724 | $9,225 | $12,110 |
| 06851 | $3,982 | $5,748 | $7,080 | $8,567 | $10,584 |
| 06853 | $10,695 | $13,879 | $19,128 | $27,106 | $39,481 |
| 06854 | $3,258 | $4,490 | $6,003 | $7,686 | $10,375 |
| 06855 | $4,651 | $6,181 | $7,718 | $10,213 | $14,498 |
Source: Ownwell