Wilton, Connecticut Property Taxes
The median property tax rate in Wilton, CT is 2.93%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With a median home value of $485,450 in Wilton, the typical annual property tax bill amounts to $14,202, far surpassing the national median of $2,690. Property taxes in Wilton are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Wilton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wilton or another part of Fairfield County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wilton, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.93%
Estimate Property Tax Bill
$14,224
$13,199
Ownwell’s Wilton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilton 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 Wilton, Connecticut
Property taxes in Wilton, Connecticut, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilton is 2.93%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wilton set these rates annually, and they can vary across different neighborhoods. Each year, Wilton 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 Wilton's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06897 in Wilton has the highest median property tax rate of 2.93%, while the same zip code also has the lowest median tax rate of 2.93%. Understanding how these cities compare with Wilton 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 Wilton Tax Rate
2.93%
Average Fairfield County Tax Rate
2.52%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06897 | 2.93% | 2.93% | 2.93% | 2.93% | 2.93% |
Source: Ownwell
Property Tax Assessment Values Across Wilton, Connecticut
In Wilton, 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 Wilton, 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 Wilton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Wilton is $485,450, with median tax bills ranging from $11,603 at the 25th percentile to $23,988 at the 90th percentile. The highest and lowest median tax bills are both $14,202 in the 06897 zip code.
Average Wilton Assessed Value
$485,450
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 Wilton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06897 | $317,534 | $396,620 | $485,450 | $623,630 | $820,120 |
Source: Ownwell
Property Tax Bills Across Wilton, Connecticut
In Wilton, Fairfield County, CT, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the mill rate set by the local government. This mill rate is influenced by the budgetary needs of the community, including funding for schools, infrastructure, and public services. Homeowners in Wilton face varying tax bills depending on their property's assessed value. For instance, the median home price in Wilton is $485,450. At the 25th percentile, homeowners can expect a tax bill of approximately $11,603, while those at the 75th percentile might pay around $18,229. At the 90th percentile, the tax bill can reach up to $23,988. These tax bills significantly impact homeowners, as they contribute to the overall cost of owning property in Wilton. Compared to the national median property tax rate of 0.99%, Wilton's rates are notably higher, reflecting the area's commitment to maintaining high-quality public services and infrastructure.
Average Wilton Tax Bill
$14,202
Average Fairfield County Tax Bill
$8,346
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06897 | $9,288 | $11,603 | $14,202 | $18,229 | $23,988 |
Source: Ownwell