Voluntown, Connecticut Property Taxes
The median property tax rate in Voluntown, 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 Voluntown at $187,800, the typical annual property tax bill reaches $4,173, exceeding the national median of $2,690. Property taxes in Voluntown 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 Voluntown'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 Voluntown 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
Voluntown, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.22%
Estimate Property Tax Bill
$4,169
$3,869
Ownwell’s Voluntown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Voluntown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Voluntown 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 Voluntown, Connecticut
Property taxes in Voluntown, Connecticut, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Voluntown is 2.22%, significantly higher than both the Connecticut state median and the U.S. national median of 0.99%. Local government entities within Voluntown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Voluntown 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 Voluntown's effective property tax rate to other counties in Connecticut and the national median. For comparison, the 06384 zip code 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 Voluntown 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 Voluntown 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 Voluntown, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06384 | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Voluntown, Connecticut
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Voluntown, 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 Voluntown, 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. The median home price in Voluntown is $187,800, with tax bills ranging from $4,019 at the 25th percentile to $4,928 at the 90th percentile. The zip code 06384 has both the highest and lowest median tax bill, at $4,173. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Voluntown Assessed Value
$187,800
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 Voluntown, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06384 | $176,850 | $180,850 | $187,800 | $212,550 | $221,800 |
Source: Ownwell
Property Tax Bills Across Voluntown, Connecticut
In Voluntown, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the mill rate set by the town, which is the amount of tax payable per $1,000 of assessed value. For example, if a home in Voluntown has an assessed value of $187,800, the tax bill will be calculated using the current mill rate. Factors that influence the tax bill include the property's market value, any improvements made to the property, and the overall budgetary needs of the local government and schools. Homeowners in Voluntown can expect to pay a tax bill ranging from $4,019 at the 25th percentile to $4,928 at the 90th percentile. This can be compared to the national median property tax rate of 0.99%, highlighting the relative tax burden on Voluntown residents. High property taxes can significantly impact homeowners by increasing their annual expenses and potentially affecting property values. Understanding these factors is crucial for budgeting and long-term financial planning.
Average Voluntown Tax Bill
$4,173
Average Windham County Tax Bill
$4,074
Average Connecticut Tax Bill
$6,162
Average United States Tax Bill
$2,690
Property Tax Bills Across Voluntown, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06384 | $3,930 | $4,019 | $4,173 | $4,722 | $4,928 |
Source: Ownwell