New London, New London County, Connecticut Property Taxes
Median New London, CT effective property tax rate: 3.72%, significantly higher than the national median of 1.02%, but lower than the Connecticut state median of 3.14%. Median New London, CT home value: $104,580. Median annual New London, CT tax bill: $3,900, $1,500 higher than the national median property tax bill of $2,400.
How are property taxes in New London calculated?
Property taxes in New London, CT are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding New London’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New London, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New London, New London County, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.72%
Estimate Property Tax Bill
$3,890
$3,610
Property Tax Rates Across New London, New London County, Connecticut
Local government entities in Connecticut determine property tax rates, which can vary significantly across different regions. Each year, New London County calculates its necessary budget for public services and divides this by the total assessed value of all taxable properties within the county. This calculation results in the property tax rate for the area. Although votes and legal frameworks play a role in setting these rates and budgets, this is the core of the annual process.
New London boasts an effective property tax rate that stands out when compared to other cities in Connecticut. With a median property tax rate of 3.72%, New London's rate is notably higher than the national median of 1.02%. This positions New London as having one of the highest property tax rates in the state. For homeowners, this means a more substantial tax bill compared to the national median property tax bill of $2,400. Understanding these differences can be crucial for property owners looking to manage their expenses effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective New London Tax Rate
3.72%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective New London County Tax Rate
2.72%
Median Effective Connecticut Tax Rate
3.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New London, New London County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06320 | 3.72% | 3.72% | 3.72% | 3.72% | 3.72% |
Source: Ownwell
Property Tax Assessment Values Across New London, New London County, Connecticut
When examining property taxes in New London, CT, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The New London County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In New London County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in New London. For example, the median home price in New London is $104,580, with tax bills ranging significantly across the county. Zip code 06320 has the highest median home price at $104,580.
Property Tax Assessment Values Across New London, New London County, Connecticut
Source: Ownwell
$86,800
$274,225
$461,650
Median New London Market Value
$104,580
Median New London County Market Value
$177,100
Median Connecticut Market Value
$189,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across New London, New London County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06320 | $61,999 | $86,310 | $104,580 | $130,760 | $169,834 |
Source: Ownwell
Property Tax Bills Across New London, New London County, Connecticut
Property Tax Bills Across New London, New London County, Connecticut
Source: Ownwell
$2,672
$6,786
$10,900
Median New London Tax Bill
$3,900
Median New London County Tax Bill
$4,738
Median Connecticut Tax Bill
$6,162
Median United States Tax Bill
$2,400
Property Tax Bills Across New London, New London County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06320 | $2,314 | $3,222 | $3,900 | $4,872 | $6,363 |
Source: Ownwell