East Killingly, Connecticut Property Taxes
The median property tax rate in East Killingly, CT is 2.89%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in East Killingly, the typical annual property tax bill reaches $3,151, exceeding the national median of $2,690. Property taxes in East Killingly 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 East Killingly'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 East Killingly 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
East Killingly, 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 East Killingly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Killingly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Killingly 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 East Killingly, Connecticut
Property taxes in East Killingly, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Killingly is 2.89%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within East Killingly set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Killingly 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 East Killingly's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06243 zip code has the highest median property tax rate of 2.89%, while the same zip code also has the lowest median tax rate of 2.89%. Understanding how these cities compare with East Killingly 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 East Killingly Tax Rate
2.89%
Average Windham County Tax Rate
2.75%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Killingly, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06243 | 2.89% | 2.89% | 2.89% | 2.89% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across East Killingly, Connecticut
In East Killingly, 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 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 East Killingly, 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 East Killingly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,151, found in zip code 06243.
Property Tax Assessment Values Across East Killingly, Connecticut
Source: Ownwell
$61,135
$147,188
$233,240
Average East Killingly Assessed Value
$109,130
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 East Killingly, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06243 | $68,082 | $85,720 | $109,130 | $135,960 | $218,386 |
Source: Ownwell
Property Tax Bills Across East Killingly, Connecticut
In East Killingly, located in Windham County, CT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value of the property, which is determined by local assessors. For homeowners in East Killingly, the tax bill can vary significantly. For instance, the tax bill at the 25th percentile is around $2,475, while at the 75th percentile, it rises to approximately $3,925. At the higher end, the 90th percentile tax bill can reach up to $6,305. These figures illustrate the range of property tax burdens residents might face. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, East Killingly homeowners may find their tax liabilities higher or lower depending on these variables. Understanding these factors can help residents better anticipate their annual property tax obligations and manage their finances accordingly.
Average East Killingly Tax Bill
$3,151
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across East Killingly, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06243 | $1,965 | $2,475 | $3,151 | $3,925 | $6,305 |
Source: Ownwell