Preston, New London County, Connecticut Property Taxes

Name: Property Tax Bills Across Preston, New London County, Connecticut
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Preston, CT effective property tax rate: 2.30%, significantly higher than the national median of 1.02%, but lower than the Connecticut state median of 3.14%.
Median Preston, CT home value: $206,605
Median annual Preston, CT tax bill: $4,743, $2,343 higher than the national median property tax bill of $2,400.

How are property taxes in New London calculated?

Property taxes in Preston, 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 Preston’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Preston, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Preston, New London County, Connecticut Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.3%

Estimate Property Tax Bill

$4,752

$4,410

Ownwell’s Preston Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Preston with just two data points.

By entering your property's estimated assessed value, our calculator applies Preston’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in New London County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Preston, New London County, Connecticut

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Preston’s effective property tax rate to other cities in Connecticut and the median property tax rates in Connecticut and the U.S.

Preston, located in New London County, has a property tax rate of 2.30%. This is significantly higher than the national median property tax rate of 1.02%. Connecticut itself is known for its relatively high property tax rates, and Preston's rate is a reflection of that trend. While some areas in the state may have varying rates, Preston's rate is consistent with the highest and lowest rates in the region. Understanding these figures can help property owners make informed decisions about their investments and financial planning.

Property Tax Rates Across Preston, New London County, Connecticut

Source: Ownwell

1.91%

3.05%

4.19%

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 Preston Tax Rate

2.30%

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 Preston, New London County, Connecticut

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
06365	2.29%	2.29%	2.30%	2.30%	2.30%

Source: Ownwell

Property Tax Assessment Values Across Preston, New London County, Connecticut

When examining property taxes in Preston, Connecticut, 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 Preston. For example, the median home price in Preston is $206,605, with tax bills ranging significantly across the county. Zip code 06365 has the highest median home price at $206,605.

Property Tax Assessment Values Across Preston, New London County, Connecticut

Source: Ownwell

$86,800

$274,225

$461,650

Median Preston Market Value

$206,605

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 Preston, New London County, Connecticut

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
06365	$139,013	$165,392	$206,605	$266,682	$323,904

Source: Ownwell

Property Tax Bills Across Preston, New London County, Connecticut

In Preston, Connecticut, property tax bills are calculated by applying the local tax rate to the assessed value of a home. The assessed value typically represents a percentage of the property's market value, which in Preston is based on a median home price of $206,605. Homeowners in Preston face a median property tax bill of $4,743, significantly higher than the national median of $2,400. Factors influencing these tax bills include the local tax rate and the assessed value, which can vary based on property characteristics and market conditions. Tax bills can range widely, from $3,798 at the 25th percentile to $7,439 at the 90th percentile. This variability highlights the importance of ensuring your property is assessed accurately. Ownwell assists homeowners by reviewing their property assessments and identifying potential savings through appeals or exemptions. By leveraging expertise in property tax laws and local market trends, Ownwell can help homeowners in Preston potentially reduce their tax burden, ensuring they only pay their fair share.

Property Tax Bills Across Preston, New London County, Connecticut

Source: Ownwell

$2,672

$6,786

$10,900

Median Preston Tax Bill

$4,743

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 Preston, New London County, Connecticut

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
06365	$3,194	$3,798	$4,743	$6,124	$7,439

Source: Ownwell