Barkhamsted, Litchfield County, Connecticut Property Taxes
The median property tax rate in Barkhamsted, CT is 3.39%, significantly higher than the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Barkhamsted at $161,735, the typical annual property tax bill reaches $5,490, far exceeding the national median of $2,690. Property taxes in Barkhamsted are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Barkhamsted'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 Barkhamsted 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
Barkhamsted, Litchfield County, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.39%
Estimate Property Tax Bill
$5,483
$5,088
Ownwell’s Barkhamsted Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barkhamsted with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barkhamsted 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 Barkhamsted, Litchfield County, Connecticut
Property taxes in Barkhamsted, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barkhamsted is 3.39%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Barkhamsted set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barkhamsted 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 Barkhamsted's effective property tax rate to other areas in Connecticut and the national median. For comparison, the zip code 06063 has the highest median property tax rate of 3.39%, while the same zip code also has the lowest median tax rate of 3.39%. Understanding how these areas compare with Barkhamsted provides valuable insights into the varying tax landscape across Litchfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barkhamsted Tax Rate
3.39%
Average Litchfield County Tax Rate
2.91%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barkhamsted, Litchfield County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06063 | 3.39% | 3.39% | 3.39% | 3.39% | 3.39% |
Source: Ownwell
Property Tax Assessment Values Across Barkhamsted, Litchfield County, Connecticut
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Barkhamsted, Connecticut. The market value represents 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 local 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 Barkhamsted, 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 Barkhamsted helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Barkhamsted are both $5,490, found in the zip code 06063.
Property Tax Assessment Values Across Barkhamsted, Litchfield County, Connecticut
Source: Ownwell
$93,590
$292,898
$492,205
Average Barkhamsted Assessed Value
$161,735
Average Litchfield County Assessed Value
$166,200
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barkhamsted, Litchfield County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06063 | $114,694 | $135,472 | $161,735 | $199,745 | $243,891 |
Source: Ownwell
Property Tax Bills Across Barkhamsted, Litchfield County, Connecticut
In Barkhamsted, Connecticut, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The assessment ratio in Connecticut is 70%, meaning a home with a market value of $161,735 would have an assessed value of $113,214. The local mill rate is then applied to this assessed value to determine the tax bill. For instance, with a median tax bill of $5,490 in the 06063 zip code, homeowners face higher property taxes compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property’s location, any applicable exemptions, and the local government's budget needs. Homeowners in Barkhamsted experience a range of tax bills, from $4,598 at the 25th percentile to $8,278 at the 90th percentile, reflecting variations in property values and local tax rates. These taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting community quality and homeowner satisfaction.
Property Tax Bills Across Barkhamsted, Litchfield County, Connecticut
Source: Ownwell
$3,418
$4,955
$6,492
Average Barkhamsted Tax Bill
$5,490
Average Litchfield County Tax Bill
$5,031
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Barkhamsted, Litchfield County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06063 | $3,893 | $4,598 | $5,490 | $6,776 | $8,278 |
Source: Ownwell