Ledyard, Connecticut Property Taxes
The median property tax rate in Ledyard, CT is 3.46%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Ledyard, the typical annual property tax bill reaches $5,494, exceeding the national median of $2,690. Property taxes in Ledyard 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 Ledyard'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 Ledyard 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
Ledyard, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.46%
Estimate Property Tax Bill
$5,502
Ownwell’s Ledyard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ledyard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ledyard 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 Ledyard, Connecticut
Property taxes in Ledyard, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ledyard is 3.46%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Ledyard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ledyard 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. Understanding how these cities compare with Ledyard 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 Ledyard Tax Rate
3.46%
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 Ledyard, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06339 | 3.46% | 3.46% | 3.46% | 3.46% | 3.46% |
Source: Ownwell
Property Tax Assessment Values Across Ledyard, Connecticut
In Ledyard, 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 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 Ledyard, 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 Ledyard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ledyard is $5,494 in the 06339 zip code, while the lowest median tax bill is also $5,494 in the same zip code.
Average Ledyard Assessed Value
$159,016
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 Ledyard, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06339 | $82,740 | $129,360 | $159,016 | $207,760 | $250,117 |
Source: Ownwell
Property Tax Bills Across Ledyard, Connecticut
In Ledyard, New London County, CT, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value typically represents a percentage of the property's market value. Factors such as property size, location, and improvements can influence this assessment. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Ledyard face a range of property tax bills. For instance, the tax bill at the 25th percentile is $4,471, while at the 75th percentile, it rises to $7,178. At the 90th percentile, homeowners may pay up to $8,631. The median home price in Ledyard is $159,016, which, when compared to the national median property tax rate of 0.99%, suggests that local tax rates are relatively high. This can significantly impact homeowners, as higher property taxes can affect affordability and overall cost of living.
Average Ledyard Tax Bill
$5,494
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 Ledyard, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06339 | $2,859 | $4,471 | $5,494 | $7,178 | $8,631 |
Source: Ownwell