Oneco, Connecticut Property Taxes
The median property tax rate in Oneco, CT is 2.22%, considerably higher than both the national median of 0.99% and the Connecticut state median of 3.14%. With the median home value in Oneco, the typical annual property tax bill reaches $3,874, exceeding the national median of $2,690. Property taxes in Oneco 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 Oneco'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 Oneco 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
Oneco, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.22%
Estimate Property Tax Bill
$3,871
Ownwell’s Oneco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oneco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oneco 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 Oneco, Connecticut
Property taxes in Oneco, Connecticut, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oneco is 2.22%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Oneco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oneco 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 Oneco's effective property tax rate to other areas in Connecticut and the national median. For comparison, the ZIP code 06373 has the highest median property tax rate of 2.22%, while the same ZIP code also has the lowest median tax rate of 2.22%. Understanding how these cities compare with Oneco 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 Oneco Tax Rate
2.22%
Average Windham County Tax Rate
2.75%
Average Connecticut Tax Rate
3.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oneco, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06373 | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Oneco, Connecticut
In Oneco, 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 Oneco, 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. For example, in zip code 06373, the median tax bill is $3,874. Being aware of these valuation processes in Oneco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oneco Assessed Value
$174,350
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 Oneco, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06373 | $114,100 | $144,450 | $174,350 | $214,375 | $263,400 |
Source: Ownwell
Property Tax Bills Across Oneco, Connecticut
In Oneco, part of Windham County, CT, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, known as the mill rate, is then applied to this assessed value to determine the final tax bill. For homeowners in Oneco, the median home price is $174,350, with property tax bills ranging significantly. At the 25th percentile, tax bills are around $3,210, while at the 75th percentile, they reach approximately $4,763. The top 10% of tax bills can go as high as $5,852. Several factors influence these tax bills, including changes in home values, local government budgets, and public service funding needs. Compared to the national median property tax rate of 0.99%, Windham County's rates reflect the region's specific economic and fiscal environment. For homeowners, understanding these factors is crucial, as property taxes represent a significant annual expense that directly impacts their financial planning and homeownership costs.
Average Oneco Tax Bill
$3,874
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Oneco, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06373 | $2,535 | $3,210 | $3,874 | $4,763 | $5,852 |
Source: Ownwell