Columbia, Connecticut Property Taxes
The median property tax rate in Columbia, CT is 2.59%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Columbia at $190,750, the typical annual property tax bill reaches $4,946, exceeding the national median of $2,690. Property taxes in Columbia 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 Columbia'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 Columbia 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
Columbia, Connecticut Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
3.14%
Estimate Property Tax Bill
$6,280
Ownwell’s Columbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbia 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 Columbia, Connecticut
Property taxes in Columbia, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbia is 2.59%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia 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 Columbia's effective property tax rate to other counties in Connecticut and the national median. For comparison, the zip code 06237 has the highest median property tax rate of 2.59%, while the same zip code also has the lowest median tax rate of 2.59%. Understanding how these cities compare with Columbia provides valuable insights into the varying tax landscape across Tolland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbia Tax Rate
2.59%
Average Tolland County Tax Rate
3.34%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbia, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06237 | 2.59% | 2.59% | 2.59% | 2.59% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, Connecticut
In Columbia, 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 Tolland 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 Columbia, 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 Columbia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Columbia is found in the 06237 zip code, with a median tax bill of $4,946, which is significantly above the national median property tax rate of 0.99%.
Average Columbia Assessed Value
$190,750
Average Tolland County Assessed Value
$164,900
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbia, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06237 | $126,777 | $149,625 | $190,750 | $247,432 | $310,520 |
Source: Ownwell
Property Tax Bills Across Columbia, Connecticut
In Columbia, property tax bills are calculated based on the assessed value of your home, which is determined by local tax assessors. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Various factors influence this assessed value, including the property's location, size, and condition. Homeowners in Columbia can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $3,880, while the 75th percentile tax bill can reach up to $6,411. Those in the 90th percentile may see tax bills as high as $8,045. The median home price in Columbia is approximately $190,750, which is relatively modest compared to national averages. These tax bills can have a substantial impact on homeowners, influencing decisions on home purchases and budgeting. With the highest and lowest median tax bill both recorded at $4,946 in the 06237 zip code, it's clear that property taxes are a significant consideration for residents in this area.
Average Columbia Tax Bill
$4,946
Average Tolland County Tax Bill
$5,464
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbia, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06237 | $3,285 | $3,880 | $4,946 | $6,411 | $8,045 |
Source: Ownwell