Lebanon, Connecticut Property Taxes
The median property tax rate in Lebanon, CT is 3.88%, significantly higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Lebanon, the typical annual property tax bill reaches $4,628, far exceeding the national median of $2,690. Property taxes in Lebanon 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 Lebanon'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 Lebanon 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
Lebanon, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.88%
Estimate Property Tax Bill
$4,627
$4,294
Ownwell’s Lebanon Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lebanon with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lebanon to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Lebanon, Connecticut
Property taxes in Lebanon, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lebanon is 3.88%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Lebanon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lebanon 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 Lebanon's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06249 zip code has both the highest and lowest median property tax rate of 3.88%, illustrating the uniformity within Lebanon. Understanding how these cities compare with Lebanon 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 Lebanon Tax Rate
3.88%
Average Windham County Tax Rate
2.75%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lebanon, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06249 | 3.88% | 3.88% | 3.88% | 3.88% | 3.88% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Connecticut
In Lebanon, 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 Lebanon, 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 Lebanon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $119,260, with tax bills ranging from $4,322 at the 25th percentile to $5,735 at the 90th percentile. The zip code 06249 holds both the highest and lowest median tax bill at $4,628.
Average Lebanon Assessed Value
$119,260
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 Lebanon, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06249 | $106,628 | $111,365 | $119,260 | $137,085 | $147,780 |
Source: Ownwell
Property Tax Bills Across Lebanon, Connecticut
Property tax bills in Lebanon, Windham County, Connecticut, are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is typically a percentage of the property's market value. In Lebanon, the median home price is $119,260. The property tax rate is applied to this assessed value to calculate the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or abatements. For example, in Lebanon, the 25th percentile tax bill is $4,322, while the 75th percentile tax bill is $5,320, and the 90th percentile tax bill is $5,735. This range shows how property characteristics and exemptions can impact the tax amount. Homeowners in Lebanon should be aware that their property tax bills are higher than the national median property tax rate of 0.99%, reflecting the local tax policies and property values. This can significantly affect household budgets and the overall cost of homeownership in the area.
Average Lebanon Tax Bill
$4,628
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Lebanon, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06249 | $4,138 | $4,322 | $4,628 | $5,320 | $5,735 |
Source: Ownwell