Killingworth, Connecticut Property Taxes
The median property tax rate in Killingworth, CT is 2.35%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Killingworth at $258,930, the typical annual property tax bill reaches $6,079, exceeding the national median of $2,690. Property taxes in Killingworth 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 Killingworth'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 Killingworth 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
Killingworth, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$6,085
Ownwell’s Killingworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Killingworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Killingworth 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 Killingworth, Connecticut
Property taxes in Killingworth, Connecticut, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Killingworth stands at 2.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Killingworth set these rates annually, and they can vary across different neighborhoods. Each year, Killingworth 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 Killingworth's effective property tax rate to other areas in Middlesex County and the national median. For comparison, Killingworth itself has the highest median property tax rate of 2.35%, while also having the lowest median tax rate of 2.35%. Understanding how Killingworth compares within Middlesex County provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Killingworth Tax Rate
2.35%
Average Middlesex County Tax Rate
2.98%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Killingworth, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06419 | 2.35% | 2.35% | 2.35% | 2.35% | 2.35% |
Source: Ownwell
Property Tax Assessment Values Across Killingworth, Connecticut
In Killingworth, 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 local 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 Killingworth, 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 Killingworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Killingworth is $258,930, with the highest and lowest median tax bills both being $6,079 in zip code 06419.
Property Tax Assessment Values Across Killingworth, Connecticut
Source: Ownwell
$152,250
$270,445
$388,640
Average Killingworth Assessed Value
$258,930
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 Killingworth, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06419 | $121,597 | $199,850 | $258,930 | $329,770 | $419,853 |
Source: Ownwell
Property Tax Bills Across Killingworth, Connecticut
Property tax bills in Killingworth, located in Middlesex County, CT, 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, as determined by the local tax assessor. The median home price in Killingworth is $258,930. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and improvements. Homeowners in Killingworth can expect a wide range of tax bills, with the 25th percentile at $4,690 and the 75th percentile at $7,742. The top 10% of homeowners face tax bills as high as $9,854. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Killingworth’s rates can be significantly higher, impacting homeowners' annual expenses and the overall cost of living in this picturesque Connecticut town.
Average Killingworth Tax Bill
$6,079
Average Middlesex County Tax Bill
$5,804
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Killingworth, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06419 | $2,854 | $4,690 | $6,079 | $7,742 | $9,854 |
Source: Ownwell