Want to calculate your property taxes in Connecticut? Calculate your Connecticut Property taxes using our Connecticut Property Tax Calculator.
The Connecticut property taxes are based on the 2022-2023 Fiscal Year Mill Rates.
Below you will find our Connecticut Property Tax Calculator using the 2023 mill rates.
Check out our video on how to calculate property taxes in CT!
Property Taxes in Connecticut: Assessed Value and Mill Rates
In order to calculate your property taxes in Connecticut. You will need the assessed value of your property and mill rates.
What is the difference between the Assessed Value and Appraised Value?
The Assessed Value of a property is 70% of the appraised value. While the appraised value of the property is the price of the property set by the town.
It’s important to know the difference between the Appraised value and Assessed Value when you are calculating your Connecticut Property taxes.
How is Appraised Value Calculated in Connecticut?
The appraised value of the property is the price of the property set by the town. Usually, Town Assessors will determine this by comparing the value of comparable properties and will usually send an inspector to physically inspect the property.
The appraised value is composed of a Land Value and a Building Improvement Value and the total will be your appraised value.
By law, Connecticut towns are required to revalue properties at least once every 5 years (CGS 12-62b(1)). As part of revaluation, Connecticut town inspectors from the Town Assessors office will conduct physical inspections of the properties by walking the exterior of the property. If there are discrepancies in square footage or new building improvements, you will be reassessed.
True Story: Click here to find out how a Greenwich resident appealed her property taxes.
How to Calculate Assessed Value in Connecticut?
To determine the Assessed Value, just take 70% of the appraised value. By law, Connecticut towns must assess properties to 70% of appraised value or fair market value (CGS 12-62a (b))
The formula for calculating assessed value in Connecticut is:
Appraised Value x 0.70= Assessed Value
What is the Mill Rate?
Every town in Connecticut sets its own Mill rate and Mill rates are adjusted every year. Most Connecticut towns publish their mill rates in May.
For example, the Board of Estimate and Taxation in Greenwich sets the mill rate in May of every year.
A mill represents $1 for every $1000 in assessed property value. For example, Greenwich has a mill rate of 11.28 mills which means a home with a $1,000,000 appraised value has a property tax of $7,896 a year.
How to Calculate Property Taxes in Connecticut?
This is how to calculate property taxes in Connecticut. First, take the 100% appraised value of the property and multiply by 70% to get the assessed value. Then you multiply the assessed value of the property by the mill rate and divide by 1,000. For example, a property with a 100% appraised value of $2,000,000 in Greenwich will have a property tax of $22,560.
Take 70% of Appraised Value: $2,000,000 x 0.70= $ 1,400,000
Multiply Assessed Value by Mill Rate: $1,400,000 x 11.28= $15,792,000
Divide by 1000: $15,792,000 /1000= $15,792
As you can see, calculating property taxes in Connecticut is pretty straight forward. We have made it easy for you by creating a Connecticut Property Tax Calculator.
Connecticut Property Tax Calculator
Here is a Connecticut Property Tax Calculator to compute your property taxes. Simply input the 100% appraised value of the property and input your town’s mill rate. You can look up your town’s mill rate below.
If you don’t have the exact town’s appraised value then I’d suggest using the purchase price or sale price of the property.
2023 Connecticut Mill Rates (Connecticut Town by Town Mill Rates)
Connecticut mill rates vary by town. Below is a complete list of the 2023 Mill Rates for every town in Connecticut.
|Connecticut Town||Mill Rates|
|Norwalk – Birchwood Special Services District||13.33|
|Norwalk – Norwalk 1st Downtown||24.54|
|Norwalk – Norwalk 2nd South||24.54|
|Norwalk – Norwalk 3rd East||24.54|
|Norwalk – Norwalk 4th Sewered Main Area||24.69|
|Norwalk – Norwalk 5th No Garbage Main Area||24.57|
|Norwalk – Norwalk 6th Rowayton||22.93|