Manchester, Connecticut Property Taxes
The median property tax rate in Manchester, CT is 3.72%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Manchester at $149,600, the typical annual property tax bill reaches $5,565, far exceeding the national median of $2,690. Property taxes in Manchester 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 Manchester'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 Manchester 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
Manchester, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.72%
Estimate Property Tax Bill
$5,565
Ownwell’s Manchester Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Manchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manchester to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more localized trends, scroll down to find detailed neighborhood information. Your property’s assessed value is the value assigned by Hartford County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Manchester, Connecticut
Property taxes in Manchester, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manchester is 3.72%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Manchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manchester 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 Manchester's effective property tax rate to other areas in Connecticut and the national median. For comparison, the 06040 zip code has the highest median property tax rate of 3.72%, while the 06040 zip code also has the lowest median tax rate of 3.72%. Understanding how these areas compare with Manchester 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 Manchester 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 Manchester, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06040 | 3.72% | 3.72% | 3.72% | 3.72% | 3.72% |
| 06042 | 3.72% | 3.72% | 3.72% | 3.72% | 3.72% |
Source: Ownwell
Property Tax Assessment Values Across Manchester, Connecticut
In Manchester, 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 Manchester, 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 Manchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the zip code 06040 has the highest median tax bill at $5,848, while the zip code 06042 has the lowest median tax bill at $5,342. With the national median property tax rate at 0.99%, understanding these local nuances can significantly impact your financial planning.
Average Manchester Assessed Value
$149,600
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 Manchester, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06040 | $88,720 | $128,900 | $157,200 | $205,975 | $257,790 |
| 06042 | $102,600 | $125,900 | $143,600 | $170,100 | $207,600 |
Source: Ownwell
Property Tax Bills Across Manchester, Connecticut
In Manchester, Hartford County, CT, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate, known as the mill rate, is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location within specific zip codes and its valuation. For instance, the highest median tax bill in Manchester is $5,848 in the 06040 zip code, while the lowest is $5,342 in the 06042 zip code. Homeowners in Manchester face property tax bills that can vary significantly. The 25th percentile tax bill stands at $4,747, while the 75th percentile reaches $7,046, and the 90th percentile goes up to $8,832. These figures highlight the range of property tax burdens homeowners may encounter. Compared to the national median property tax rate of 0.99%, Manchester's property taxes can be relatively high, impacting homeowners' annual expenses and overall affordability of living in the area.
Average Manchester Tax Bill
$5,565
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Manchester, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06040 | $3,301 | $4,795 | $5,848 | $7,662 | $9,590 |
| 06042 | $3,817 | $4,683 | $5,342 | $6,328 | $7,719 |
Source: Ownwell