Bloomfield, Connecticut Property Taxes
The median property tax rate in Bloomfield, CT is 3.85%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Bloomfield, the typical annual property tax bill reaches $5,289, exceeding the national median of $2,690. Property taxes in Bloomfield 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 Bloomfield'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 Bloomfield 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
Bloomfield, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.85%
Estimate Property Tax Bill
$5,271
Ownwell’s Bloomfield Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bloomfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bloomfield to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed insights, scroll down to explore trends at the neighborhood level. 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 Bloomfield, Connecticut
Property taxes in Bloomfield, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bloomfield is 3.85%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Bloomfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomfield 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 Bloomfield's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06002 zip code has the highest median property tax rate of 3.85%, while the 06002 zip code also has the lowest median tax rate of 3.85%. Understanding how these cities compare with Bloomfield provides valuable insights into the varying tax landscape across Hartford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomfield Tax Rate
3.85%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bloomfield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06002 | 3.85% | 3.85% | 3.85% | 3.99% | 3.99% |
Source: Ownwell
Property Tax Assessment Values Across Bloomfield, Connecticut
In Bloomfield, 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 Hartford 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 Bloomfield, 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 Bloomfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 06002 has both the highest and lowest median tax bill at $5,289.
Average Bloomfield Assessed Value
$136,920
Average Hartford County Assessed Value
$166,460
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bloomfield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06002 | $88,487 | $106,120 | $136,920 | $171,632 | $233,030 |
Source: Ownwell
Property Tax Bills Across Bloomfield, Connecticut
In Bloomfield, Hartford County, CT, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate, also known as the mill rate, is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $136,920, homeowners can expect varying tax bills depending on their property's assessed value. Factors such as the property's location, size, and condition play a significant role in determining its assessed value. In Bloomfield, the tax bill at the 25th percentile is around $4,206, while at the 75th percentile, it climbs to $6,611. Those at the 90th percentile face tax bills as high as $8,995. The highest and lowest median tax bills in the area both stand at $5,289, which is significantly higher than the national median property tax rate of 0.99%. These property taxes can substantially impact homeowners, influencing their financial planning and the overall affordability of homeownership in the region.
Average Bloomfield Tax Bill
$5,289
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomfield, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06002 | $3,509 | $4,206 | $5,289 | $6,611 | $8,995 |
Source: Ownwell