North Windham, Connecticut Property Taxes
The median property tax rate in North Windham, CT is 3.15%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in North Windham, the typical annual property tax bill reaches $5,258, exceeding the national median of $2,690. Property taxes in North Windham 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 North Windham'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 North Windham 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
North Windham, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.15%
Estimate Property Tax Bill
$5,254
$4,876
Ownwell’s North Windham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Windham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Windham 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 Tolland County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across North Windham, Connecticut
Property taxes in North Windham, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Windham is 3.15%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within North Windham set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Windham 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 North Windham's effective property tax rate to other areas in Connecticut and the national median. For comparison, the 06256 zip code has the highest median property tax rate of 3.15%, while the lowest median tax rate is also 3.15%. Understanding how these areas compare with North Windham 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 North Windham Tax Rate
3.15%
Average Tolland County Tax Rate
3.34%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Windham, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06256 | 3.15% | 3.15% | 3.15% | 3.15% | 3.15% |
Source: Ownwell
Property Tax Assessment Values Across North Windham, Connecticut
In North Windham, 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. Assessment notices in North Windham 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 North Windham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 06256 has the median tax bill of $5,258, reflecting the local property tax trends.
Property Tax Assessment Values Across North Windham, Connecticut
Source: Ownwell
$20,800
$274,665
$528,530
Average North Windham Assessed Value
$166,800
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 North Windham, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06256 | $143,600 | $152,300 | $166,800 | $181,300 | $190,000 |
Source: Ownwell
Property Tax Bills Across North Windham, Connecticut
Property tax bills in North Windham, Tolland County, CT, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. In North Windham, the median home price is $166,800. Homeowners can expect to pay property taxes that vary widely depending on their property's assessed value and specific characteristics. For instance, the 25th percentile tax bill is around $4,800, while the 75th percentile tax bill reaches approximately $5,715. At the 90th percentile, homeowners might see tax bills as high as $5,989. The highest median tax bill in the area is $5,258, which is notably higher than the national median property tax rate of 0.99%. These property tax bills significantly impact homeowners by influencing their overall cost of living and affordability of homeownership. Understanding these factors is crucial for homeowners to anticipate and manage their annual expenses effectively.
Average North Windham Tax Bill
$5,258
Average Tolland County Tax Bill
$5,464
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across North Windham, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06256 | $4,526 | $4,800 | $5,258 | $5,715 | $5,989 |
Source: Ownwell