Stamford, Connecticut Property Taxes
The median property tax rate in Stamford, CT is 2.49%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Stamford at $401,960, the typical annual property tax bill reaches $10,051, exceeding the national median of $2,690. Property taxes in Stamford 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 Stamford'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 Stamford 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
Stamford, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.49%
Estimate Property Tax Bill
$10,009
Ownwell’s Stamford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stamford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stamford 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 Stamford, Connecticut
Property taxes in Stamford, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stamford is 2.49%, significantly higher than the U.S. national median of 0.99%. Local government entities within Stamford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stamford 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 Stamford's effective property tax rate to other areas in Fairfield County and the national median. For comparison, the 06901 zip code has the highest median property tax rate of 2.52%, while the 06903 zip code has the lowest median tax rate of 2.45%. Understanding how these areas compare with Stamford 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 Stamford Tax Rate
2.49%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stamford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06901 | 2.52% | 2.52% | 2.52% | 2.52% | 2.67% |
| 06902 | 2.49% | 2.52% | 2.52% | 2.52% | 2.52% |
| 06903 | 2.45% | 2.45% | 2.45% | 2.45% | 2.45% |
| 06904 | 2.45% | 2.45% | 2.49% | 2.52% | 2.52% |
| 06905 | 2.49% | 2.49% | 2.49% | 2.52% | 2.52% |
| 06906 | 2.49% | 2.49% | 2.49% | 2.52% | 2.52% |
| 06907 | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Stamford, Connecticut
In Stamford, 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 Stamford, 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. For example, the median home price is $401,960, with tax bills ranging significantly. The 25th percentile tax bill is $6,697, while the 75th percentile tax bill is $13,131, and the 90th percentile tax bill is $17,017. The highest median tax bill of $14,078 is found in zip code 06903, whereas the lowest median tax bill of $4,549 is in zip code 06901. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stamford Assessed Value
$401,960
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 Stamford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06901 | $115,960 | $124,730 | $180,240 | $279,710 | $419,590 |
| 06902 | $132,150 | $203,660 | $354,060 | $505,695 | $718,448 |
| 06903 | $444,292 | $506,260 | $575,540 | $686,190 | $911,016 |
| 06904 | $356,482 | $422,262 | $532,040 | $598,490 | $835,102 |
| 06905 | $252,756 | $351,668 | $413,455 | $490,952 | $602,585 |
| 06906 | $196,480 | $273,230 | $358,380 | $428,125 | $492,888 |
| 06907 | $179,900 | $258,345 | $375,750 | $441,320 | $525,800 |
Source: Ownwell
Property Tax Bills Across Stamford, Connecticut
In Stamford, Fairfield County, CT, 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, or mill rate, is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax amount, including the home's location, size, and any applicable exemptions. For homeowners in Stamford, the median home price is $401,960. Property tax bills can vary significantly, with the 25th percentile at $6,697 and the 75th percentile at $13,131. The 90th percentile tax bill reaches up to $17,017, indicating a substantial range in property tax obligations. Certain areas within Stamford, such as the 06903 zip code, have the highest median tax bill at $14,078, while the 06901 zip code has the lowest median tax bill at $4,549. These property taxes impact homeowners by contributing to local services and infrastructure, but they also represent a significant annual expense, often influencing decisions about buying or selling homes in the area.
Average Stamford Tax Bill
$10,051
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Stamford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06901 | $2,927 | $3,148 | $4,549 | $7,120 | $10,815 |
| 06902 | $3,335 | $5,140 | $8,924 | $12,694 | $17,946 |
| 06903 | $10,871 | $12,384 | $14,078 | $16,786 | $22,283 |
| 06904 | $8,876 | $10,558 | $13,122 | $14,724 | $20,427 |
| 06905 | $6,379 | $8,791 | $10,306 | $12,236 | $15,009 |
| 06906 | $4,898 | $6,826 | $8,954 | $10,682 | $12,371 |
| 06907 | $4,472 | $6,422 | $9,341 | $10,960 | $13,048 |
Source: Ownwell