Bozrah, Connecticut Property Taxes
The median property tax rate in Bozrah, CT is 2.25%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Bozrah, the typical annual property tax bill reaches $4,171, exceeding the national median of $2,690. Property taxes in Bozrah 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 Bozrah'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 Bozrah or another part of New London County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bozrah, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$4,139
$3,841
Ownwell’s Bozrah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bozrah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bozrah 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 Bozrah, Connecticut
Property taxes in Bozrah, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bozrah is 2.25%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Bozrah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bozrah 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 Bozrah's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06334 zip code has both the highest and lowest median property tax rate of 2.25%. Understanding how these cities compare with Bozrah provides valuable insights into the varying tax landscape across New London County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bozrah Tax Rate
2.25%
Average New London County Tax Rate
2.72%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bozrah, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06334 | 2.25% | 2.25% | 2.25% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Bozrah, Connecticut
In Bozrah, 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 London County Assessor 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 Bozrah, 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. The median home price in Bozrah is $183,960, with median tax bills ranging from $3,390 at the 25th percentile to $6,438 at the 90th percentile. The highest and lowest median tax bills are both $4,171 in the 06334 zip code. Being aware of these valuation processes in Bozrah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bozrah Assessed Value
$183,960
Average New London County Assessed Value
$177,100
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bozrah, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06334 | $127,806 | $149,660 | $183,960 | $230,650 | $286,111 |
Source: Ownwell
Property Tax Bills Across Bozrah, Connecticut
In Bozrah, located in New London County, CT, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Bozrah is $183,960. Property taxes are determined by multiplying the assessed value by the local tax rate. Various factors influence the assessed value, including the property's size, location, and condition. Homeowners in Bozrah experience a range of property tax bills. The 25th percentile tax bill is around $3,390, while those in the 75th percentile can expect to pay approximately $5,189. At the 90th percentile, the tax bill can rise to about $6,438. The highest median tax bill in the area is $4,171, which is significantly higher than the national median property tax rate of 0.99%. These property taxes directly impact homeowners by influencing their annual expenses and potentially their overall financial planning. Understanding how these taxes are calculated helps homeowners better prepare for their financial obligations.
Average Bozrah Tax Bill
$4,171
Average New London County Tax Bill
$4,738
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Bozrah, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06334 | $2,922 | $3,390 | $4,171 | $5,189 | $6,438 |
Source: Ownwell