Ridgefield, Connecticut Property Taxes
The median property tax rate in Ridgefield, CT is 2.58%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Ridgefield, the typical annual property tax bill reaches $12,038, exceeding the national median of $2,690. Property taxes in Ridgefield 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 Ridgefield'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 Ridgefield 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
Ridgefield, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$12,033
Ownwell’s Ridgefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridgefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridgefield 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 Ridgefield, Connecticut
Property taxes in Ridgefield, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridgefield is 2.58%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Ridgefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgefield 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 Ridgefield's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06877 zip code has the highest median property tax rate of 2.58%, while the same 06877 zip code also has the lowest median tax rate of 2.58%. Understanding how these cities compare with Ridgefield 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 Ridgefield Tax Rate
2.58%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ridgefield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06877 | 2.58% | 2.58% | 2.58% | 2.58% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across Ridgefield, Connecticut
In Ridgefield, 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 Ridgefield, 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. Ridgefield's median home price is $466,410, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $9,208, while the 75th percentile tax bill climbs to $16,101. The highest and lowest median tax bills are both $12,038, located in the 06877 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Ridgefield, Connecticut
Source: Ownwell
$44,380
$583,940
$1,123,500
Average Ridgefield Assessed Value
$466,410
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 Ridgefield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06877 | $232,680 | $356,738 | $466,410 | $623,630 | $865,907 |
Source: Ownwell
Property Tax Bills Across Ridgefield, Connecticut
In Ridgefield, CT, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, also known as the mill rate, is then applied to this assessed value to determine the annual property tax bill. Several factors influence this calculation, including the property’s location, size, and any improvements made. For homeowners in Ridgefield, the median home price is $466,410. Property tax bills vary significantly, with the 25th percentile at $9,208 and the 75th percentile reaching $16,101. At the 90th percentile, homeowners can expect to pay around $22,349 annually. Compared to the national median property tax rate of 0.99%, Ridgefield’s rates are considerably higher, reflecting the town's desirable living conditions and robust public services. These property tax bills impact homeowners by contributing to local amenities such as schools, parks, and emergency services, thereby enhancing the overall quality of life in Ridgefield.
Average Ridgefield Tax Bill
$12,038
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridgefield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06877 | $6,005 | $9,208 | $12,038 | $16,101 | $22,349 |
Source: Ownwell