Waterbury, Connecticut Property Taxes
The median property tax rate in Waterbury, CT is 5.42%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Waterbury at $125,510, the typical annual property tax bill reaches $6,801, far exceeding the national median of $2,690. Property taxes in Waterbury 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 Waterbury'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 Waterbury 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
Waterbury, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.42%
Estimate Property Tax Bill
$6,803
$6,313
Ownwell’s Waterbury Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waterbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterbury to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Waterbury, Connecticut
Property taxes in Waterbury, Connecticut, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterbury is 5.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Waterbury set these rates annually, and they can vary across different neighborhoods. Each year, Waterbury 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 Waterbury's effective property tax rate to other areas in New Haven County and the national median. For comparison, the highest median property tax rate in the area is 5.42% in the 06701 zip code, while the lowest median tax rate is also 5.42% in the 06710 zip code. Understanding how these areas compare with Waterbury 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 Waterbury Tax Rate
5.42%
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 Waterbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06701 | 5.42% | 5.42% | 5.42% | 5.42% | 5.42% |
| 06702 | 5.42% | 5.42% | 5.42% | 5.42% | 5.42% |
| 06704 | 5.42% | 5.42% | 5.42% | 5.42% | 5.42% |
| 06705 | 5.42% | 5.42% | 5.42% | 5.42% | 5.42% |
| 06706 | 5.42% | 5.42% | 5.42% | 5.42% | 5.42% |
| 06708 | 5.42% | 5.42% | 5.42% | 5.42% | 5.42% |
| 06710 | 5.42% | 5.42% | 5.42% | 5.42% | 5.42% |
Source: Ownwell
Property Tax Assessment Values Across Waterbury, Connecticut
In Waterbury, 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 Waterbury, 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 context, the median home price in Waterbury is $125,510. The median tax bill varies significantly, with the highest median tax bill being $7,719 in zip code 06708 and the lowest at $5,349 in zip code 06702. 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 Waterbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waterbury Assessed Value
$125,510
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 Waterbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06701 | $93,415 | $96,145 | $121,660 | $144,725 | $178,787 |
| 06702 | $60,438 | $77,350 | $98,700 | $112,560 | $135,114 |
| 06704 | $50,715 | $81,410 | $113,470 | $145,618 | $174,090 |
| 06705 | $64,820 | $92,120 | $117,110 | $148,960 | $177,730 |
| 06706 | $68,040 | $98,980 | $122,220 | $148,855 | $176,960 |
| 06708 | $81,326 | $113,820 | $142,450 | $173,950 | $206,430 |
| 06710 | $58,394 | $78,260 | $123,970 | $159,950 | $196,518 |
Source: Ownwell
Property Tax Bills Across Waterbury, Connecticut
In Waterbury, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the mill rate, a figure set annually by the city to meet budgetary needs. For example, a home with a median market price of $125,510 will have its tax bill calculated using the city's specific mill rate. Several factors influence the final tax bill. These include the property's location within the city, any applicable exemptions, and the assessed value compared to the market value. Homeowners in Waterbury can expect a range of tax bills, with the 25th percentile at $5,216, the 75th percentile at $8,580, and the 90th percentile reaching $10,227. The highest median tax bill is found in the 06708 zip code at $7,719, while the lowest is in the 06702 zip code at $5,349. These property tax rates can significantly impact homeowners, often influencing decisions on buying, selling, or investing in property within the city. Compared to the national median property tax rate of 0.99%, Waterbury's rates reflect the city's unique fiscal requirements and community services.
Average Waterbury Tax Bill
$6,801
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 Waterbury, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06701 | $5,062 | $5,210 | $6,593 | $7,843 | $9,688 |
| 06702 | $3,275 | $4,192 | $5,349 | $6,100 | $7,322 |
| 06704 | $2,749 | $4,412 | $6,149 | $7,891 | $9,434 |
| 06705 | $3,513 | $4,992 | $6,342 | $8,049 | $9,615 |
| 06706 | $3,687 | $5,364 | $6,623 | $8,066 | $9,578 |
| 06708 | $4,396 | $6,168 | $7,719 | $9,426 | $11,186 |
| 06710 | $3,165 | $4,241 | $6,718 | $8,668 | $10,650 |
Source: Ownwell