Stafford Springs, Connecticut Property Taxes
The median property tax rate in Stafford Springs, CT is 3.68%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Stafford Springs, the typical annual property tax bill reaches $4,884, exceeding the national median of $2,690. Property taxes in Stafford Springs 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 Stafford Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Stafford Springs 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
Stafford Springs, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.68%
Estimate Property Tax Bill
$4,820
Ownwell’s Stafford Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stafford Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stafford Springs 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 Stafford Springs, Connecticut
Property taxes in Stafford Springs, Connecticut, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stafford Springs is 3.68%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Stafford Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stafford Springs 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 Stafford Springs' effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06076 zip code has the highest median property tax rate of 3.68%, while the same zip code also has the lowest median tax rate of 3.68%. Understanding how these cities compare with Stafford Springs 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 Stafford Springs Tax Rate
3.68%
Average Tolland County Tax Rate
3.34%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stafford Springs, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06076 | 3.68% | 3.68% | 3.68% | 3.93% | 3.93% |
Source: Ownwell
Property Tax Assessment Values Across Stafford Springs, Connecticut
In Stafford Springs, 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 Stafford Springs, 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. The median home price in Stafford Springs is $130,970. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the zip code 06076 has the highest and lowest median tax bill at $4,884. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Stafford Springs, Connecticut
Source: Ownwell
$20,800
$274,665
$528,530
Average Stafford Springs Assessed Value
$130,970
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 Stafford Springs, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06076 | $82,516 | $104,650 | $130,970 | $164,325 | $205,380 |
Source: Ownwell
Property Tax Bills Across Stafford Springs, Connecticut
In Stafford Springs, located in Tolland County, CT, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the home. Homeowners in Stafford Springs face property tax bills that vary widely depending on several factors, including the property's assessed value and the local tax rate. For instance, the median home price in Stafford Springs is $130,970. Property tax bills in this area range from $3,960 at the 25th percentile to $7,585 at the 90th percentile, with the highest median tax bill recorded at $4,884. These figures indicate that homeowners in Stafford Springs often pay property taxes that are significantly higher than the national median property tax rate of 0.99%. The tax bill directly affects homeowners by contributing to their annual financial obligations, influencing affordability, and impacting long-term investment decisions in the local real estate market.
Average Stafford Springs Tax Bill
$4,884
Average Tolland County Tax Bill
$5,464
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Stafford Springs, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06076 | $3,152 | $3,960 | $4,884 | $6,080 | $7,585 |
Source: Ownwell