Westport, Connecticut Property Taxes
The median property tax rate in Westport, CT is 1.84%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Westport at $737,000, the typical annual property tax bill reaches $13,586, significantly exceeding the national median of $2,690. Property taxes in Westport 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 Westport'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 Westport 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
Westport, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$13,561
Ownwell’s Westport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westport 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 Westport, Connecticut
Property taxes in Westport, Connecticut, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Westport is 1.84%, significantly higher than the U.S. national median of 0.99%. Local government entities within Westport set these rates annually, and they can vary across different neighborhoods. Each year, Westport 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 Westport's effective property tax rate to other areas and the national median. For comparison, the zip code 06880 has the highest median property tax rate of 1.84%, while the same zip code also has the lowest median tax rate of 1.84%. Understanding how these cities compare with Westport 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 Westport Tax Rate
1.84%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westport, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06880 | 1.83% | 1.83% | 1.84% | 1.84% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Westport, Connecticut
In Westport, 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 Westport, 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. The median home price in Westport is $737,000, with property tax bills ranging from $9,509 at the 25th percentile to $30,391 at the 90th percentile. The highest and lowest median tax bills are both $13,586 in zip code 06880. 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 Westport Assessed Value
$737,000
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 Westport, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06880 | $383,900 | $514,550 | $737,000 | $1,130,050 | $1,654,800 |
Source: Ownwell
Property Tax Bills Across Westport, Connecticut
In Westport, CT, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local mill rate, which is the amount of tax payable per thousand dollars of assessed value. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Westport, the median home price is $737,000. The property tax rates in the area result in tax bills that vary significantly, with the 25th percentile at $9,509 and the 75th percentile reaching $20,779. The highest median tax bill in the region is $13,586, which is notably higher than the national median property tax rate of 0.99%. These tax bills can have a considerable impact on homeowners, affecting their overall housing costs and potentially influencing decisions about buying or selling property.
Average Westport Tax Bill
$13,586
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Westport, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06880 | $7,116 | $9,509 | $13,586 | $20,779 | $30,391 |
Source: Ownwell