Bolton, Connecticut Property Taxes
The median property tax rate in Bolton, CT is 3.72%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With a median home value of $296,700 in Bolton, the typical annual property tax bill reaches $11,037, far exceeding the national median of $2,690. Property taxes in Bolton 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 Bolton'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 Bolton or another part of Hartford County, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bolton, Connecticut Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
3.14%
Estimate Property Tax Bill
$6,280
Ownwell’s Bolton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bolton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bolton 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 Bolton, Connecticut
Property taxes in Bolton, Connecticut, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Bolton is 3.72%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Bolton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bolton 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 Bolton's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06043 zip code has the highest median property tax rate of 3.72%, while the same zip code also has the lowest median tax rate of 3.72%. Understanding how these cities compare with Bolton 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 Bolton Tax Rate
3.72%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bolton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06043 | 3.72% | 3.72% | 3.72% | 3.72% | 3.72% |
Source: Ownwell
Property Tax Assessment Values Across Bolton, Connecticut
In Bolton, 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 Bolton, 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 instance, the median home price in Bolton is $296,700, with tax bills ranging from $10,378 at the 25th percentile to $13,323 at the 90th percentile. The highest and lowest median tax bills are both $11,037, found in the 06043 zip code. By understanding 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 Bolton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bolton Assessed Value
$296,700
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 Bolton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06043 | $268,380 | $279,000 | $296,700 | $335,100 | $358,140 |
Source: Ownwell
Property Tax Bills Across Bolton, Connecticut
In Bolton, CT, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Bolton is $296,700. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, homeowners in Bolton can expect to pay between $10,378 and $13,323 in property taxes, depending on their property's assessed value and specific circumstances. Several factors influence property tax bills, including property size, location, and any improvements made to the property. These elements are assessed periodically to ensure tax bills reflect current market conditions. The highest and lowest median tax bills in Bolton are both $11,037, found in the zip code 06043, indicating a relatively uniform tax rate across the area. High property taxes can significantly impact homeowners, affecting affordability and the overall cost of living. Comparing this to the national median property tax rate of 0.99%, Bolton's rates are notably higher, which can be a crucial consideration for current and prospective homeowners.
Average Bolton Tax Bill
$11,037
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Bolton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06043 | $9,983 | $10,378 | $11,037 | $12,466 | $13,323 |
Source: Ownwell