Hamden, Connecticut Property Taxes
The median property tax rate in Hamden, CT is 5.64%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Hamden, the typical annual property tax bill reaches $7,877, exceeding the national median of $2,690. Property taxes in Hamden are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hamden'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 Hamden 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
Hamden, 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 Hamden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hamden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hamden 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 Hamden, Connecticut
Property taxes in Hamden, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hamden is 5.64%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Hamden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hamden 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 Hamden's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06514 zip code has the highest median property tax rate of 5.64%, while the 06511 zip code has the lowest median tax rate of 5.64%. Understanding how these cities compare with Hamden 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 Hamden Tax Rate
5.64%
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 Hamden, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06511 | 5.64% | 5.64% | 5.64% | 5.64% | 5.64% |
| 06514 | 5.64% | 5.64% | 5.64% | 5.64% | 5.64% |
| 06517 | 5.64% | 5.64% | 5.64% | 5.64% | 5.64% |
| 06518 | 5.64% | 5.64% | 5.64% | 5.64% | 5.64% |
Source: Ownwell
Property Tax Assessment Values Across Hamden, Connecticut
In HAMDEN, 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. In HAMDEN, 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. For example, the highest median tax bill in HAMDEN is $8,765 in the 06518 zip code, while the lowest median tax bill is $6,440 in the 06511 zip code. 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 HAMDEN helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hamden Assessed Value
$139,790
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 Hamden, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06511 | $101,290 | $108,902 | $114,240 | $122,202 | $130,935 |
| 06514 | $72,289 | $107,538 | $124,810 | $153,295 | $186,620 |
| 06517 | $88,445 | $119,630 | $146,965 | $185,220 | $247,625 |
| 06518 | $107,800 | $133,420 | $155,470 | $186,830 | $239,260 |
Source: Ownwell
Property Tax Bills Across Hamden, Connecticut
In Hamden, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local mill rate to determine the annual tax bill. Factors influencing the tax bill include the home's assessed value, the mill rate set by the local government, and any applicable exemptions or abatements. Homeowners in Hamden experience varying tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is around $6,461, while the 75th percentile reaches approximately $9,717. The 90th percentile tax bill can go as high as $12,124, illustrating the range of property tax burdens within the city. The highest median tax bill in Hamden is $8,765 in the 06518 zip code, while the lowest is $6,440 in the 06511 zip code. Compared to the national median property tax rate of 0.99%, Hamden's property tax rates can be significantly higher, impacting homeowners by increasing their annual housing costs and influencing decisions about homeownership and property investments.
Average Hamden Tax Bill
$7,877
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 Hamden, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06511 | $5,711 | $6,140 | $6,440 | $6,890 | $7,382 |
| 06514 | $4,073 | $6,062 | $7,035 | $8,631 | $10,515 |
| 06517 | $4,987 | $6,745 | $8,286 | $10,443 | $13,961 |
| 06518 | $6,078 | $7,522 | $8,765 | $10,533 | $13,489 |
Source: Ownwell