Property taxes in Connecticut: How are they calculated, how high are they, and where are they highest?

Property taxes represent a significant expense for every homeowner and must be factored when budgeting for a new home purchase. 

If you’re considering moving to Connecticut, you’ll want to know what to expect for property taxes. Connecticut is known for having some of the highest property taxes in the country, and the tax rate can vary significantly depending on what area you live in. 

Let’s go over what you need to know about property taxes in Connecticut. 

How are Connecticut property taxes calculated? 

In Connecticut, property taxes are calculated based on two factors — the assessed value of the property and the mill rate set by the local municipality. 

Assessed value of Properties

• The assessed value of a property is determined by the local tax assessor's office. In Connecticut, properties are generally assessed at 70% of their fair market value.
• Fair market value is typically determined through recent sales data of comparable properties, cost of replacement, and income potential (for rental properties).

Determination of Mill Rate

• Each municipality sets its own mill rate annually. The mill rate is expressed in terms of dollars per thousand dollars of assessed value. For example, a mill rate of 30 means $30 of tax per $1,000 of assessed value.
• The mill rate is set based on the municipality's budget needs and the total assessed value of all properties within the municipality.

Calculation of Property Tax

• To calculate your property taxes, you first divide the assessed value of your home by 1,000. Then multiply that number by your municipality’s mill rate. For example, a house with an assessed value of $500,000 in a town with a mill rate of 20.0 would yield $10,000 in property taxes (500,000/1,000 = 50 x 20 = 10,000). 

How do property taxes affect home buying? 

The taxes you will pay on a home represent a significant portion of your annual homeownership costs, along with your mortgage, and should be factored into your budget when homeshopping. 

Fortunately, there are a lot of resources that make it easy to estimate what the taxes would be for a property. Listing sites like Zillow include property tax history and estimates for listed properties, and property tax bill records can be searched online by address in most municipalities through the town’s tax collector’s  office. 

These figures can fluctuate based on a variety of factors, like if the existing owners recently made significant changes to their home to increase the assessed value on reevaluation. A town’s mill rate can also change depending on the town’s budget needs each year.  

How high are property taxes in Connecticut? 

Connecticut is a great state to live in, but it can cost a pretty penny. Among all states, Connecticut consistently ranks in the top tier for property tax rates nationwide. The state recently ranked fifth in effective property tax rate, according to data compiled by Rocket Mortgage. 

Connecticut’s wide income disparity makes it a little different than some other states when considering property taxes. In affluent areas where the median home value soars past $1 million, such as Greenwich, the mill rate (around 11 mills in 2024) is set much lower than in poorer areas, like Bridgeport (around 43 mills), where the median home value is in the $300,000’s. 

So you can see how location matters greatly when considering property taxes in Connecticut. A house with an assessed value of $500,000 would yield around $5,500 in annual property taxes in Greenwich and $21,500 in Bridgeport. 

In addition to home values, each municipality has its own budgetary considerations, and the mill rate in each town is partly determined by how much revenue is needed to fund expenditures. 

Connecticut Towns with the Highest and Lowest Property Taxes 

As we discussed, the mill rate among Connecticut municipalities can vary greatly. The state’s Office of Policy and Management keeps a record of the mill rate in each town. Generally speaking, towns in the greater Greenwich area have some of the lowest mill rates, including Greenwich, Darien, and Westport. Cities like Hartford, Waterbury, and New Britain all rank near the top of the list. 

You can see a list of the 2023-2024 mill rate for towns in Pederson Real Estate Law’s coverage area below, along with where they rank among all 169 Connecticut municipalities 

• Greenwich: 11.39 (2nd lowest)
• Darien: 17.61 (12th lowest) 
• Westport: 18.35 (15th lowest)
• New Canaan: 18.94 (17th lowest)
• Norwalk: 25.08 (43rd lowest)
• Stamford: 27.17 (59th lowest)
• Wilton: 29.26 (85th lowest)

Below is a list of the municipalities with the highest mill rates for 2023-2024.

• Hartford: 68.95
• Hamden: 56.38
• Waterbury: 54.19
• Torrington: 47.96
• Woodbridge: 45.08
• Naugatuck: 44.75

Buying a home and need an attorney for your real estate closing? 

Navigating real estate closings can get tricky. Attorney Charlene Pederson has more than 25 years of experience helping clients through residential purchases, sales, and refinances.  If you need an experienced, attentive attorney for your closing, reach out today for a free consultation.

Our firm serves the greater Greenwich, CT area, including Darien, Stamford, New Canaan, Westport, Norwalk, and Wilton.