Stevenson, Connecticut Property Taxes
The median property tax rate in Stevenson, CT is 3.76%, significantly higher than both the national median of 0.99% and Connecticut's state median of 3.14%. With the median home value in Stevenson at $145,800, the typical annual property tax bill reaches $5,475, far exceeding the national median of $2,690. Property taxes in Stevenson are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Stevenson’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 Stevenson 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
Stevenson, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.76%
Estimate Property Tax Bill
$5,482
$5,087
Ownwell’s Stevenson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stevenson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stevenson 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 Stevenson, Connecticut
Property taxes in Stevenson, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stevenson is 3.76%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Stevenson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stevenson 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. For comparison, the highest and lowest median property tax rates in Fairfield County are both 3.76%, the same as Stevenson, highlighting a uniform tax landscape within the area. Understanding how these cities compare with Stevenson 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 Stevenson Tax Rate
3.76%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stevenson, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06491 | 3.76% | 3.76% | 3.76% | 3.76% | 3.76% |
Source: Ownwell
Property Tax Assessment Values Across Stevenson, Connecticut
In Stevenson, 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 Stevenson, 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 Stevenson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 06491 in Stevenson shows the highest and lowest median tax bill, both at $5,475.
Property Tax Assessment Values Across Stevenson, Connecticut
Source: Ownwell
$44,380
$583,940
$1,123,500
Average Stevenson Assessed Value
$145,800
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 Stevenson, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06491 | $145,800 | $145,800 | $145,800 | $145,800 | $145,800 |
Source: Ownwell
Property Tax Bills Across Stevenson, Connecticut
In Stevenson, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Stevenson is $145,800, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including property location, home size, and any applicable exemptions or abatements. Stevenson homeowners face a median tax bill of $5,475, which is significantly higher than the national median property tax rate of 0.99%. This high tax rate can impact homeowners by increasing their annual expenses, potentially affecting their ability to afford other necessities or save for the future. The uniformity in tax bills, with the 25th, 75th, and 90th percentiles all at $5,475, suggests a consistent application of the tax rate across different properties. Homeowners in Stevenson should be aware of these factors to better understand their financial obligations and explore potential exemptions to reduce their tax burden.
Average Stevenson Tax Bill
$5,475
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Stevenson, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06491 | $5,475 | $5,475 | $5,475 | $5,475 | $5,475 |
Source: Ownwell