East Haddam, Connecticut Property Taxes
The median property tax rate in East Haddam, CT is 2.58%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in East Haddam at $235,570, the typical annual property tax bill reaches $6,066, exceeding the national median of $2,690. Property taxes in East Haddam 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 East Haddam'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 East Haddam 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
East Haddam, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$6,078
$5,640
Ownwell’s East Haddam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Haddam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Haddam 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 East Haddam, Connecticut
Property taxes in East Haddam, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Haddam is 2.58%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within East Haddam set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Haddam 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 East Haddam's effective property tax rate to other counties in Connecticut and the national median. For comparison, the ZIP code 06423 has the highest median property tax rate of 2.58%, while the same ZIP code also has the lowest median tax rate of 2.58%. Understanding how these cities compare with East Haddam provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Haddam Tax Rate
2.58%
Average Middlesex County Tax Rate
2.98%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Haddam, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06423 | 2.57% | 2.57% | 2.58% | 2.58% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across East Haddam, Connecticut
In East Haddam, 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 Middlesex 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 East Haddam, 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. Interestingly, the median home price in East Haddam stands at $235,570, with property tax bills ranging from $4,824 at the 25th percentile to $9,832 at the 90th percentile. The zip code 06423 has both the highest and lowest median tax bill at $6,066. By understanding 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 East Haddam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across East Haddam, Connecticut
Source: Ownwell
$152,250
$270,445
$388,640
Average East Haddam Assessed Value
$235,570
Average Middlesex County Assessed Value
$200,100
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Haddam, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06423 | $135,416 | $187,340 | $235,570 | $291,210 | $381,822 |
Source: Ownwell
Property Tax Bills Across East Haddam, Connecticut
In East Haddam, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor and is a percentage of the market value. Homeowners in East Haddam, Middlesex County, can expect a median property tax rate of 2.57%, significantly higher than the national median of 0.99%. For instance, with a median home price of $235,570, homeowners might face different tax bills depending on their property's value. The 25th percentile tax bill is around $4,824, while the 75th percentile tax bill reaches $7,499, and those at the 90th percentile see tax bills as high as $9,832. The highest and lowest median tax bills in the area both stand at $6,066, specific to the zip code 06423. These tax bills impact homeowners by influencing their overall housing costs, potentially affecting affordability and long-term financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average East Haddam Tax Bill
$6,066
Average Middlesex County Tax Bill
$5,804
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across East Haddam, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06423 | $3,487 | $4,824 | $6,066 | $7,499 | $9,832 |
Source: Ownwell