Port Chester, Connecticut Property Taxes
The median property tax rate in Port Chester, CT is 1.14%, considerably higher than the national median of 0.99% but significantly lower than Connecticut's state median of 3.14%. With the median home value in Port Chester, the typical annual property tax bill reaches $505, which is below the national median of $2,690. Property taxes in Port Chester 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 Port Chester'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 Port Chester 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
Port Chester, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$506
$469
Ownwell’s Port Chester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Port Chester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Chester 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 Port Chester, Connecticut
Property taxes in Port Chester, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Chester is 1.14%, which is higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Port Chester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Chester 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 Port Chester's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 10573 zip code has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Port Chester 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 Port Chester Tax Rate
1.14%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Chester, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10573 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Port Chester, Connecticut
In Port Chester, 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 Port Chester, 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 Port Chester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 10573, with a tax bill of $505.00, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Port Chester, Connecticut
Source: Ownwell
$44,380
$583,940
$1,123,500
Average Port Chester Assessed Value
$44,380
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 Port Chester, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10573 | $44,380 | $44,380 | $44,380 | $44,380 | $44,380 |
Source: Ownwell
Property Tax Bills Across Port Chester, Connecticut
In Port Chester, Fairfield County, CT, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is a percentage of the property's market value. The tax rate, also known as the mill rate, is then applied to the assessed value to determine the annual property tax bill. For homeowners in Port Chester, the median home price is $44,380, and the median property tax bill is $505, which is significantly lower than the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. This relatively low tax burden can be beneficial for homeowners, making it more affordable to maintain property ownership in the area. However, it’s essential for homeowners to stay informed about any changes in tax rates or property assessments that could impact their annual tax obligations.
Average Port Chester Tax Bill
$505
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Chester, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 10573 | $505 | $505 | $505 | $505 | $505 |
Source: Ownwell