Bridgewater, Connecticut Property Taxes
The median property tax rate in Bridgewater, CT is 1.68%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Bridgewater at $372,500, the typical annual property tax bill reaches $6,240, exceeding the national median of $2,690. Property taxes in Bridgewater 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 Bridgewater'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 Bridgewater 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
Bridgewater, 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 Bridgewater Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Bridgewater with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bridgewater to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level insights are available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Bridgewater, Connecticut
Property taxes in Bridgewater, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bridgewater is 1.68%, which is significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Bridgewater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bridgewater 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 Bridgewater's effective property tax rate to other areas in Connecticut and the national median. For comparison, the 06752 zip code has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these values compare with Bridgewater 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 Bridgewater Tax Rate
1.68%
Average Litchfield County Tax Rate
2.91%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bridgewater, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06752 | 1.67% | 1.67% | 1.68% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Bridgewater, Connecticut
In Bridgewater, 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 Litchfield 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 Bridgewater, 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 Bridgewater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 06752 in Bridgewater has both the highest and lowest median tax bill at $6,240.
Property Tax Assessment Values Across Bridgewater, Connecticut
Source: Ownwell
$66,800
$516,050
$965,300
Average Bridgewater Assessed Value
$372,500
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 Bridgewater, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06752 | $222,260 | $282,300 | $372,500 | $559,050 | $853,523 |
Source: Ownwell
Property Tax Bills Across Bridgewater, Connecticut
In Bridgewater, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, determined by the town's assessor. Once the assessed value is established, it is multiplied by the tax rate to calculate the annual tax bill. Factors such as location, property size, and improvements can influence the assessed value. Homeowners in Bridgewater, located in Litchfield County, experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $4,728, while at the 75th percentile, it reaches $9,355. At the 90th percentile, homeowners might see bills as high as $14,296. The highest median tax bill in the area is $6,240, which is significantly above the national median property tax rate of 0.99%. These taxes fund essential services like schools, public safety, and infrastructure, directly impacting the quality of life and property values in the community.
Average Bridgewater Tax Bill
$6,240
Average Litchfield County Tax Bill
$5,031
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Bridgewater, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06752 | $3,723 | $4,728 | $6,240 | $9,355 | $14,296 |
Source: Ownwell