North Granby, Connecticut Property Taxes
The median property tax rate in North Granby, CT is 3.19%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in North Granby at $307,965, the typical annual property tax bill reaches $9,856, far exceeding the national median of $2,690. Property taxes in North Granby 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 North Granby'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 North Granby 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
North Granby, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.19%
Estimate Property Tax Bill
$9,824
Ownwell’s North Granby Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in North Granby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Granby 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 North Granby, Connecticut
Property taxes in North Granby, Connecticut, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Granby is 3.19%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within North Granby set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Granby 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 North Granby's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06060 has both the highest and lowest median property tax rate of 3.19%. Understanding how these cities compare with North Granby 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 North Granby Tax Rate
3.19%
Average Hartford County Tax Rate
3.54%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Granby, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06060 | 3.19% | 3.19% | 3.19% | 3.19% | 3.19% |
Source: Ownwell
Property Tax Assessment Values Across North Granby, Connecticut
In North Granby, Connecticut, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 North Granby, 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 North Granby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in North Granby both stand at $9,856, found in the 06060 zip code.
Property Tax Assessment Values Across North Granby, Connecticut
Source: Ownwell
$24,328
$180,489
$336,650
Average North Granby Assessed Value
$307,965
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 North Granby, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06060 | $208,915 | $259,630 | $307,965 | $362,582 | $431,515 |
Source: Ownwell
Property Tax Bills Across North Granby, Connecticut
Property tax bills in North Granby, Hartford County, CT, are calculated based on the assessed value of the property, which is a percentage of its market value. The local tax rate, also known as the mill rate, is then applied to this assessed value to determine the tax bill. Several factors influence the assessed value, including the property's size, location, and condition. In North Granby, the median home price is $307,965, and homeowners can expect property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $8,306, while at the 75th percentile, it rises to $11,653. The 90th percentile sees tax bills as high as $13,791. Compared to the national median property tax rate of 0.99%, North Granby's rates are notably higher. This higher tax burden can impact homeowners by increasing their annual expenses, making it crucial for them to understand how their tax bills are determined and what factors contribute to the overall cost.
Average North Granby Tax Bill
$9,856
Average Hartford County Tax Bill
$5,898
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across North Granby, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06060 | $6,728 | $8,306 | $9,856 | $11,653 | $13,791 |
Source: Ownwell