Southport, Connecticut Property Taxes
The median property tax rate in Southport, CT is 2.75%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Southport, the typical annual property tax bill reaches $15,685, exceeding the national median of $2,690. Property taxes in Southport 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 Southport'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 Southport 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
Southport, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.75%
Estimate Property Tax Bill
$15,679
$14,550
Ownwell’s Southport Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Southport quickly and easily. By entering your property's estimated assessed value, the calculator uses the median tax rate in Southport to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making financial planning more straightforward. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes, considering any applicable exemptions.
Property Tax Rates Across Southport, Connecticut
Property taxes in Southport, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Southport is 2.75%, significantly higher than the U.S. national median of 0.99%. Local government entities within Southport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southport 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 Southport's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06890 has the highest median property tax rate of 2.75%, while the same zip code also has the lowest median tax rate of 2.75%. Understanding how these cities compare with Southport 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 Southport Tax Rate
2.75%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Southport, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06890 | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
Source: Ownwell
Property Tax Assessment Values Across Southport, Connecticut
In Southport, 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 Southport, 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. Southport has a median home price of $570,150, with tax bills ranging from $9,764 at the 25th percentile to $32,074 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Southport, Connecticut
Source: Ownwell
$44,380
$583,940
$1,123,500
Average Southport Assessed Value
$570,150
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 Southport, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06890 | $253,470 | $354,935 | $570,150 | $761,670 | $1,165,906 |
Source: Ownwell
Property Tax Bills Across Southport, Connecticut
In Southport, Fairfield County, CT, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. This assessed value is then multiplied by the local mill rate to determine the tax bill. The median home price in Southport is $570,150, and homeowners can expect a significant tax bill due to the area's high property values. Several factors influence the tax bill, including the home's market value, the local mill rate, and any applicable exemptions. For instance, the tax bill at the 25th percentile is $9,764, while at the 75th percentile, it rises to $20,954. At the 90th percentile, homeowners could see tax bills as high as $32,074. These substantial tax bills impact homeowners significantly, making it essential for them to understand the factors affecting their property taxes. Comparatively, the national median property tax rate is 0.99%, highlighting the relatively high tax burdens in Southport. The highest and lowest median tax bill in the area is $15,685, found in the 06890 zip code.
Average Southport Tax Bill
$15,685
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Southport, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06890 | $6,973 | $9,764 | $15,685 | $20,954 | $32,074 |
Source: Ownwell