Woodbury, Connecticut Property Taxes
The median property tax rate in Woodbury, CT is 2.91%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Woodbury, the typical annual property tax bill reaches $6,152, far exceeding the national median of $2,690. Property taxes in Woodbury 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 Woodbury'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 Woodbury 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
Woodbury, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.91%
Estimate Property Tax Bill
$6,160
Ownwell’s Woodbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodbury 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 Woodbury, Connecticut
Property taxes in Woodbury, Connecticut, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodbury is 2.91%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Woodbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodbury 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 Woodbury's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06798 zip code has both the highest and lowest median property tax rate of 2.91%. Understanding how these cities compare with Woodbury 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 Woodbury Tax Rate
2.91%
Average Litchfield County Tax Rate
2.91%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06798 | 2.91% | 2.91% | 2.91% | 2.91% | 2.91% |
Source: Ownwell
Property Tax Assessment Values Across Woodbury, Connecticut
In Woodbury, 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 in Woodbury 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 Woodbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $6,152, found in the 06798 zip code.
Average Woodbury Assessed Value
$211,700
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 Woodbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06798 | $86,144 | $154,685 | $211,700 | $275,015 | $353,766 |
Source: Ownwell
Property Tax Bills Across Woodbury, Connecticut
Property tax bills in Woodbury, located in Litchfield County, CT, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate, known as the mill rate, is applied to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Woodbury, homeowners can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $4,496, while at the 75th percentile, it rises to approximately $7,996. Homeowners at the 90th percentile face tax bills as high as $10,281. The median home price in Woodbury stands at $211,700, which means the property tax rate here is considerably higher than the national median property tax rate of 0.99%. This substantial variation in tax bills underscores the importance of understanding how local assessments and mill rates impact overall property tax obligations for homeowners in Woodbury.
Average Woodbury Tax Bill
$6,152
Average Litchfield County Tax Bill
$5,031
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06798 | $2,503 | $4,496 | $6,152 | $7,996 | $10,281 |
Source: Ownwell