Canton, Connecticut Property Taxes
The median property tax rate in Canton, CT is 3.54%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Canton, the typical annual property tax bill reaches $6,645, exceeding the national median of $2,690. Property taxes in Canton 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 Canton'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 Canton 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
Canton, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.54%
Estimate Property Tax Bill
$6,656
Ownwell’s Canton Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Canton. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Canton to provide an accurate estimate of your property tax bill. This user-friendly tool helps you anticipate tax liabilities and plan your finances accordingly. For those interested in more detailed information, including neighborhood-level trends, more localized data is available. Your property's assessed value is determined by the county and factors in any applicable exemptions, ensuring a fair and accurate calculation for your property tax responsibilities.
Property Tax Rates Across Canton, Connecticut
Property taxes in Canton, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canton is 3.54%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Canton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canton 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 Canton's effective property tax rate to other areas in Hartford County and the national median. For comparison, the zip code 06019 has the highest median property tax rate of 3.54%, while the same zip code also has the lowest median tax rate of 3.54%. Understanding how these areas compare with Canton 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 Canton Tax Rate
3.54%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06019 | 3.54% | 3.54% | 3.54% | 3.54% | 3.54% |
Source: Ownwell
Property Tax Assessment Values Across Canton, Connecticut
In Canton, 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 Canton, 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 Canton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $6,645 in the 06019 zip code, while the lowest is also $6,645 in the same zip code, reflecting a consistent tax landscape.
Average Canton Assessed Value
$188,020
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 Canton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06019 | $89,920 | $146,635 | $188,020 | $245,215 | $328,320 |
Source: Ownwell
Property Tax Bills Across Canton, Connecticut
In Canton, located in Hartford County, CT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. Canton’s property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements or renovations. For example, the median home price in Canton is $188,020, and the median tax bill is $6,645, which is significantly higher than the national median property tax rate of 0.99%. Homeowners in Canton can expect to pay within a range, with the 25th percentile tax bill at $5,184 and the 75th percentile at $8,674. This high property tax rate can affect homeowners by increasing the overall cost of owning a home and potentially impacting affordability. Homeowners need to budget for these taxes as part of their annual expenses, which can be a substantial financial consideration.
Average Canton Tax Bill
$6,645
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Canton, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06019 | $3,180 | $5,184 | $6,645 | $8,674 | $11,613 |
Source: Ownwell