Old Greenwich, Fairfield County, Connecticut Property Taxes

Local government entities set tax rates, which can vary widely within a state. Why? Annually, 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. Below, you can compare Old Greenwich’s effective property tax rate to other cities in Connecticut and the median property tax rates in Connecticut and the U.S.

In Old Greenwich, located in Fairfield County, property owners encounter a median property tax rate of 1.16%, which is above the national median of 1.02%. This rate reflects the local government's commitment to funding essential services and infrastructure. Compared to other regions in Connecticut, Old Greenwich shares its median property tax rate with other areas in the state, showcasing consistency in how property taxes are assessed. Understanding how these rates are determined and how they compare nationally can empower homeowners to make informed decisions about their property investments.

In Old Greenwich, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as home improvements, neighborhood developments, and changes in market conditions can influence the assessed value, potentially raising the tax bill. With a median property tax bill of $11,724, Old Greenwich homeowners face higher costs compared to the national median of $2,400. This substantial difference underscores the importance of ensuring that your property is not over-assessed.

Ownwell assists homeowners in Old Greenwich by providing expert property tax appeal services. By analyzing market data and assessment records, Ownwell identifies opportunities to challenge over-assessments, potentially lowering tax bills. With a success rate that speaks for itself, Ownwell’s services can lead to significant savings, ensuring that homeowners only pay their fair share. This can be particularly beneficial in a region where property taxes are notably above the national average.