Salisbury, Connecticut Property Taxes
The median property tax rate in Salisbury, CT is 1.10%, which is considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With a median home value of $352,300 in Salisbury, the typical annual property tax bill reaches $3,894, exceeding the national median of $2,690. Property taxes in Salisbury 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 Salisbury'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 Salisbury 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
Salisbury, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$3,875
Ownwell’s Salisbury Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Salisbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salisbury 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 Salisbury, Connecticut
Property taxes in Salisbury, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salisbury is 1.10%, higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Salisbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salisbury 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 Salisbury's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06068 zip code has the highest median property tax rate of 1.10%, while the 06068 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Salisbury 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 Salisbury Tax Rate
1.10%
Average Litchfield County Tax Rate
2.91%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salisbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06068 | 1.10% | 1.10% | 1.10% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Salisbury, Connecticut
In Salisbury, 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 appraisers 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 Salisbury, 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 Salisbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Salisbury is $352,300, with the highest and lowest median tax bill both being $3,894 in the 06068 zip code.
Average Salisbury Assessed Value
$352,300
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 Salisbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06068 | $111,160 | $200,500 | $352,300 | $662,750 | $1,194,960 |
Source: Ownwell
Property Tax Bills Across Salisbury, Connecticut
In Salisbury, located in Litchfield County, CT, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, also known as the mill rate, is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $352,300, homeowners can expect varying tax bills depending on their property's specific assessed value and the mill rate. Several factors influence the tax bill, including property size, location, and any applicable exemptions or abatements. Tax bills can range significantly, with the 25th percentile at $2,206 and the 75th percentile at $7,312. For those in the 90th percentile, the tax bill can be as high as $13,144. The highest and lowest median tax bills in Salisbury both stand at $3,894, reflecting the uniformity in certain areas. High property taxes can significantly impact homeowners, influencing decisions on home purchases and long-term financial planning. Compared to the national median property tax rate of 0.99%, Salisbury's tax rates can be considerably higher, affecting affordability and overall cost of living.
Average Salisbury Tax Bill
$3,894
Average Litchfield County Tax Bill
$5,031
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Salisbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06068 | $1,223 | $2,206 | $3,894 | $7,312 | $13,144 |
Source: Ownwell