New Preston Marble Dale, Litchfield County, Connecticut Property Taxes
The median property tax rate in New Preston Marble Dale, CT is 1.42%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in New Preston Marble Dale, the typical annual property tax bill reaches $3,743, exceeding the national median of $2,690. Property taxes in New Preston Marble Dale 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 New Preston Marble Dale'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 New Preston Marble Dale 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
New Preston Marble Dale, Litchfield County, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$3,731
$3,463
Ownwell’s New Preston Marble Dale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Preston Marble Dale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Preston Marble Dale 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 New Preston Marble Dale, Litchfield County, Connecticut
Property taxes in New Preston Marble Dale, Connecticut, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in New Preston Marble Dale is 1.42%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within New Preston Marble Dale set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Preston Marble Dale 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 New Preston Marble Dale's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06777 has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these figures compare with New Preston Marble Dale 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.
Property Tax Rates Across New Preston Marble Dale, Litchfield County, Connecticut
Source: Ownwell
1.10%
2.95%
4.80%
Average New Preston Marble Dale Tax Rate
1.42%
Average Litchfield County Tax Rate
2.91%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Preston Marble Dale, Litchfield County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06777 | 1.42% | 1.42% | 1.42% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across New Preston Marble Dale, Litchfield County, Connecticut
In New Preston Marble Dale, 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. 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 New Preston Marble Dale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $3,743 in the 06777 zip code, which underscores the uniformity in tax assessments within the area.
Property Tax Assessment Values Across New Preston Marble Dale, Litchfield County, Connecticut
Source: Ownwell
$93,590
$292,898
$492,205
Average New Preston Marble Dale Assessed Value
$262,775
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 New Preston Marble Dale, Litchfield County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06777 | $151,106 | $185,760 | $262,775 | $458,912 | $1,080,763 |
Source: Ownwell
Property Tax Bills Across New Preston Marble Dale, Litchfield County, Connecticut
In New Preston Marble Dale, CT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. This value is then multiplied by the local tax rate, also known as the mill rate, to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value. For homeowners in New Preston Marble Dale, the impact of property taxes is significant. The median home price is $262,775, and tax bills can vary widely. For instance, the 25th percentile tax bill is $2,648, while the 75th percentile tax bill is $6,524. At the higher end, the 90th percentile tax bill reaches $15,412. Compared to the national median property tax rate of 0.99%, the property tax rates in this area can result in substantial annual costs for homeowners, affecting their overall financial planning and home affordability.
Property Tax Bills Across New Preston Marble Dale, Litchfield County, Connecticut
Source: Ownwell
$3,418
$4,955
$6,492
Average New Preston Marble Dale Tax Bill
$3,743
Average Litchfield County Tax Bill
$5,031
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across New Preston Marble Dale, Litchfield County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06777 | $2,158 | $2,648 | $3,743 | $6,524 | $15,412 |
Source: Ownwell