Moosup, Connecticut Property Taxes
The median property tax rate in Moosup, CT is 2.29%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Moosup at $186,540, the typical annual property tax bill reaches $4,276, exceeding the national median of $2,690. Property taxes in Moosup 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 Moosup'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 Moosup 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
Moosup, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.29%
Estimate Property Tax Bill
$4,272
$3,964
Ownwell’s Moosup Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Moosup with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Moosup to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in trends at a neighborhood level, more localized information is available below. Your property’s assessed value is determined by Windham County for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Moosup, Connecticut
Property taxes in Moosup, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moosup is 2.29%, significantly higher than both the Connecticut state median of 1.79% and the U.S. national median of 0.99%. Local government entities within Moosup set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moosup 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 Moosup's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06354 zip code has the highest median property tax rate of 2.29%, while the 06354 zip code also has the lowest median tax rate of 2.29%. Understanding how these cities compare with Moosup 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 Moosup Tax Rate
2.29%
Average Windham County Tax Rate
2.75%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moosup, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06354 | 2.28% | 2.29% | 2.29% | 2.29% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Moosup, Connecticut
In Moosup, 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 Moosup, 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 Moosup helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 06354, with a bill of $4,276, while the lowest is also 06354, with the same bill of $4,276.
Average Moosup Assessed Value
$186,540
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 Moosup, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06354 | $131,880 | $156,490 | $186,540 | $234,400 | $281,640 |
Source: Ownwell
Property Tax Bills Across Moosup, Connecticut
In Moosup, 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. For instance, with a median home price of $186,540, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $3,579, while those in the 75th percentile might see bills closer to $5,367. For the top 10% of property values, tax bills can reach up to $6,424. The local tax rate is applied to the assessed value to determine the final tax bill. This rate is influenced by municipal budget needs, school funding, and other local services. Compared to the national median property tax rate of 0.99%, Moosup's property taxes tend to be higher, reflecting the specific fiscal requirements of the area. These taxes directly impact homeowners by contributing to the overall cost of owning property, influencing affordability and long-term financial planning.
Average Moosup Tax Bill
$4,276
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Moosup, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06354 | $3,021 | $3,579 | $4,276 | $5,367 | $6,424 |
Source: Ownwell