North Branford, Connecticut Property Taxes
The median property tax rate in North Branford, CT is 3.45%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in North Branford at $175,800, the typical annual property tax bill reaches $6,064, far exceeding the national median of $2,690. Property taxes in North Branford are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North 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 North 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
North Branford, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.45%
Estimate Property Tax Bill
$6,065
Ownwell’s North Branford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Branford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North 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 North Branford, Connecticut
Property taxes in North 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 North Branford is 3.45%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within North Branford set these rates annually, and they can vary significantly across different neighborhoods. Each year, North 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 North Branford's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06471 has the highest median property tax rate of 3.45%, while the same zip code also has the lowest median tax rate of 3.45%. Understanding how these cities compare with North 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 North Branford Tax Rate
3.45%
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 North Branford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06471 | 3.45% | 3.45% | 3.45% | 3.45% | 3.45% |
Source: Ownwell
Property Tax Assessment Values Across North Branford, Connecticut
In North 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 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 North Branford, 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 North Branford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $6,064, found in the 06471 zip code, while the lowest median tax bill is also $6,064 in the same zip code.
Property Tax Assessment Values Across North Branford, Connecticut
Source: Ownwell
$98,700
$369,750
$640,800
Average North Branford Assessed Value
$175,800
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 North Branford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06471 | $108,200 | $145,325 | $175,800 | $215,375 | $259,450 |
Source: Ownwell
Property Tax Bills Across North Branford, Connecticut
Property tax bills in North Branford, located in New Haven County, Connecticut, are determined by assessing the market value of a property and applying the local tax rate to this value. The median home price in North Branford is $175,800. Homeowners can expect their property tax bills to vary significantly based on the assessed value of their property and the specific tax rate applied. The tax bill for the 25th percentile is around $5,016, while those in the 75th percentile pay approximately $7,422. For properties in the 90th percentile, the tax bill can reach up to $8,930. The highest median tax bill in North Branford stands at $6,064. These figures are considerably higher than the national median property tax rate of 0.99%, reflecting the region's higher property tax rates. High property taxes can impact homeowners by increasing the overall cost of owning a home, potentially affecting affordability and influencing decisions about buying or selling property in the area.
Average North Branford Tax Bill
$6,064
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 North Branford, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06471 | $3,736 | $5,016 | $6,064 | $7,422 | $8,930 |
Source: Ownwell