Lisbon, Connecticut Property Taxes
The median property tax rate in Lisbon, CT is 2.34%, considerably higher than both the national median of 0.99% and Connecticut's state median of 3.14%. With the median home value in Lisbon at $177,400, the typical annual property tax bill reaches $4,156, exceeding the national median of $2,690. Property taxes in Lisbon 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 Lisbon'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 Lisbon 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
Lisbon, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.34%
Estimate Property Tax Bill
$4,151
$3,852
Ownwell’s Lisbon Property Tax Bill Calculator offers a straightforward way for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Lisbon using just two data points. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Lisbon to provide an estimated property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in more granular insights, additional localized information is available further down the page. Your property's assessed value, determined by the county, forms the basis for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Lisbon, Connecticut
Property taxes in Lisbon, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lisbon is 2.34%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Lisbon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lisbon 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 Lisbon's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06351 zip code has the highest median property tax rate of 2.34%, while the same zip code also has the lowest median tax rate of 2.34%. Understanding how these cities compare with Lisbon 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 Lisbon Tax Rate
2.34%
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 Lisbon, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06351 | 2.34% | 2.34% | 2.34% | 2.34% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Lisbon, Connecticut
In Lisbon, 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 Lisbon, 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 Lisbon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Lisbon is 06351, with a value of $4,156.
Average Lisbon Assessed Value
$177,400
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 Lisbon, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06351 | $116,406 | $139,052 | $177,400 | $209,082 | $242,457 |
Source: Ownwell
Property Tax Bills Across Lisbon, Connecticut
In Lisbon, Connecticut, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate, also known as the mill rate, is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $177,400, homeowners in Lisbon can expect their tax bills to vary significantly. The 25th percentile tax bill is around $3,258, while the 75th percentile reaches $4,899, and the 90th percentile climbs to $5,681. Several factors influence the tax bill, including changes in property values, local government budgets, and voter-approved measures. These taxes fund essential services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Lisbon's rates reflect the town's specific financial needs and priorities. Homeowners in the 06351 zip code, where the highest and lowest median tax bills are both $4,156, experience a consistent tax environment.
Average Lisbon Tax Bill
$4,156
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 Lisbon, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06351 | $2,727 | $3,258 | $4,156 | $4,899 | $5,681 |
Source: Ownwell