Quaker Hill, Connecticut Property Taxes
The median property tax rate in Quaker Hill, CT is 2.12%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Quaker Hill at $199,910, the typical annual property tax bill reaches $4,243, exceeding the national median of $2,690. Property taxes in Quaker Hill 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 Quaker Hill'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 Quaker Hill 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
Quaker Hill, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.12%
Estimate Property Tax Bill
$4,238
$3,933
Ownwell’s Quaker Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quaker Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quaker Hill 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 Quaker Hill, Connecticut
Property taxes in Quaker Hill, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quaker Hill is 2.12%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Quaker Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quaker Hill 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 Quaker Hill's effective property tax rate to other areas in Connecticut and the national median. For comparison, the zip code 06375 has both the highest and lowest median property tax rates in the area at 2.12%. Understanding how these cities compare with Quaker Hill 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 Quaker Hill Tax Rate
2.12%
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 Quaker Hill, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06375 | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Quaker Hill, Connecticut
In Quaker Hill, 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 Quaker Hill, 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 Quaker Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 06375 has both the highest and lowest median tax bill at $4,243, reflecting the uniformity in property tax assessments in this area.
Property Tax Assessment Values Across Quaker Hill, Connecticut
Source: Ownwell
$74,200
$894,585
$1,714,970
Average Quaker Hill Assessed Value
$199,910
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 Quaker Hill, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06375 | $146,543 | $167,332 | $199,910 | $244,630 | $311,216 |
Source: Ownwell
Property Tax Bills Across Quaker Hill, Connecticut
Property tax bills in Quaker Hill, New London County, CT, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Quaker Hill is $199,910. Local tax authorities determine the assessed value and apply the local tax rate to calculate the annual tax bill. For instance, homeowners in the 25th percentile pay around $3,560 annually, while those in the 75th percentile face tax bills of approximately $5,210. At the 90th percentile, the tax bill can reach up to $6,598. The highest median tax bill in the area is $4,243, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners. Understanding these factors can help homeowners anticipate their annual expenses and plan their finances accordingly.
Average Quaker Hill Tax Bill
$4,243
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 Quaker Hill, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06375 | $3,114 | $3,560 | $4,243 | $5,210 | $6,598 |
Source: Ownwell