Coventry, Connecticut Property Taxes
The median property tax rate in Coventry, CT is 3.17%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Coventry at $154,100, the typical annual property tax bill reaches $4,891, far exceeding the national median of $2,690. Property taxes in Coventry 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 Coventry'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 Coventry 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
Coventry, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.17%
Estimate Property Tax Bill
$4,885
$4,533
Ownwell’s Coventry Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Coventry with ease. By simply inputting your property's estimated assessed value, the calculator applies the median tax rate in Coventry to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Coventry, Connecticut
Property taxes in Coventry, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coventry is 3.17%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Coventry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coventry 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 Coventry's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06238 zip code has the highest median property tax rate of 3.17%, while the same zip code also has the lowest median tax rate of 3.17%. Understanding how these cities compare with Coventry 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 Coventry Tax Rate
3.17%
Average Tolland County Tax Rate
3.34%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coventry, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06238 | 3.17% | 3.17% | 3.17% | 3.17% | 3.17% |
Source: Ownwell
Property Tax Assessment Values Across Coventry, Connecticut
In Coventry, 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 local 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 Coventry, 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 Coventry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 06238 has the highest and lowest median tax bills, both at $4,891.
Average Coventry Assessed Value
$154,100
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 Coventry, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06238 | $89,300 | $116,500 | $154,100 | $206,600 | $264,360 |
Source: Ownwell
Property Tax Bills Across Coventry, Connecticut
In Coventry, property tax bills are calculated based on the assessed value of a home, which is determined by the Tolland County tax assessor's office. The assessed value is typically a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. This tax rate is set by local government authorities and can vary year to year. Homeowners in Coventry can expect property tax bills to differ significantly. For example, the 25th percentile tax bill is $3,698, while the 75th percentile tax bill is $6,557. The 90th percentile tax bill can reach up to $8,391, indicating a substantial range based on property values and assessments. The median home price in Coventry is $154,100, which helps to contextualize these figures. Compared to the national median property tax rate of 0.99%, Coventry's property tax rates can have a notable impact on homeowners, potentially influencing their financial planning and overall cost of homeownership.
Average Coventry Tax Bill
$4,891
Average Tolland County Tax Bill
$5,464
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Coventry, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06238 | $2,834 | $3,698 | $4,891 | $6,557 | $8,391 |
Source: Ownwell