Baltic, Connecticut Property Taxes
The median property tax rate in Baltic, CT is 4.00%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Baltic at $133,800, the typical annual property tax bill reaches $5,352, exceeding the national median of $2,690. Property taxes in Baltic 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 Baltic'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 Baltic 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
Baltic, 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 Baltic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baltic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baltic 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 Baltic, Connecticut
Property taxes in Baltic, Connecticut, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Baltic is 4.00%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Baltic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baltic 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 Baltic's effective property tax rate to other areas in Connecticut and the national median. For comparison, the zip code 06330 has both the highest and lowest median property tax rate of 4.00%. Understanding how these areas compare with Baltic provides valuable insights into the varying tax landscape across Windham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baltic Tax Rate
4.00%
Average Windham County Tax Rate
2.75%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baltic, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06330 | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
Source: Ownwell
Property Tax Assessment Values Across Baltic, Connecticut
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Baltic, Connecticut. 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 Windham 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 Baltic, 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 Baltic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Baltic is $133,800, with the 25th percentile tax bill at $4,604 and the 75th percentile tax bill at $6,736. The zip code with the highest and lowest median tax bill is 06330, both at $5,352.
Average Baltic Assessed Value
$133,800
Average Windham County Assessed Value
$144,900
Average Connecticut Assessed Value
$189,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baltic, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06330 | $97,220 | $115,100 | $133,800 | $168,400 | $205,780 |
Source: Ownwell
Property Tax Bills Across Baltic, Connecticut
In Baltic, located in Windham County, CT, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate, known as the mill rate, is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Baltic is $133,800, which provides a baseline for understanding property tax bills in the area. Homeowners in Baltic experience varying tax bills depending on their property values. At the 25th percentile, tax bills are around $4,604, while at the 75th percentile, they reach approximately $6,736. Those at the 90th percentile see tax bills as high as $8,231. The highest and lowest median tax bills in Baltic are both recorded at $5,352, indicating some consistency in tax assessments within the zip code 06330. These property tax obligations significantly impact homeowners, contributing to the overall cost of homeownership in the region.
Average Baltic Tax Bill
$5,352
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Baltic, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06330 | $3,889 | $4,604 | $5,352 | $6,736 | $8,231 |
Source: Ownwell