Branford, Connecticut Property Taxes
The median property tax rate in Branford, CT is 2.99%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Branford, the typical annual property tax bill reaches $5,664, exceeding the national median of $2,690. Property taxes in Branford 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 Branford'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 Branford 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
Branford, Connecticut Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
3.14%
Estimate Property Tax Bill
$6,280
Ownwell’s Branford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Branford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Branford 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 Branford, Connecticut
Property taxes in Branford, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Branford is 2.99%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Branford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Branford 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 Branford's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06405 zip code has the highest median property tax rate of 2.99%, while the same zip code also has the lowest median tax rate of 2.99%. Understanding how these cities compare with Branford provides valuable insights into the varying tax landscape across New Haven County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Branford Tax Rate
2.99%
Average New Haven County Tax Rate
3.48%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Branford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06405 | 2.99% | 2.99% | 2.99% | 2.99% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Branford, Connecticut
In Branford, 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 New Haven 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 Branford 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. For instance, the median home price in Branford is $189,500, with tax bills ranging from $3,682 at the 25th percentile to $11,533 at the 90th percentile. The zip code 06405 has both the highest and lowest median tax bill, at $5,664. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Branford Assessed Value
$189,500
Average New Haven County Assessed Value
$174,720
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Branford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06405 | $90,100 | $123,200 | $189,500 | $268,000 | $385,820 |
Source: Ownwell
Property Tax Bills Across Branford, Connecticut
In Branford, 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 is then applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and condition play a significant role in determining market value and, consequently, the assessed value. Homeowners in Branford experience varying tax bills, with the 25th percentile at $3,682 and the 75th percentile at $8,011. The 90th percentile reaches as high as $11,533. The median tax bill in Branford is notably higher than the national median property tax rate of 0.99%, reflecting the town's specific economic and property market conditions. This variation in tax bills can significantly affect homeowners, influencing their financial planning and the overall cost of owning property in Branford. The highest and lowest median tax bills in the area both stand at $5,664, indicating a consistent tax rate within the zip code 06405.
Average Branford Tax Bill
$5,664
Average New Haven County Tax Bill
$6,350
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Branford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06405 | $2,693 | $3,682 | $5,664 | $8,011 | $11,533 |
Source: Ownwell