Current Mill Rates for the Greater New Haven Area
Once again, we are receiving many calls and visitors to our blog inquiring about what the mill rate the town they live in, or the town they wish to move to, so we thought we’d post an update to the list of mill rates of some of the towns covered by the Greater New Haven Board of Realtors. Just in case you’re unfamiliar with what a mill rate is, it’s how communities calculate the amount of tax you owe on personal property. The actual term is millage rate, but over time it has been shortened to the root word mill, meaning “thousand”. A mill is a thousandth of a dollar, or 0.1%. The mill rate is the amount per thousand dollars of assessed property the owner must pay in taxes to the municipality the property is located in. The assessment ratio in Connecticut is currently 70% of the property’s fair market value.
Using the table below as an example, the owner of a property in Wallingford that has an assessed value (not appraised value or sales value) of $250,000 would pay $6,305 in taxes based on the listed mill rate of 25.22, or 0.02522. In New Haven, an owner of that same property would pay $10,975 in property taxes, based on the current 43.90 mill rate. Any questions on property assessment should be directed to your town’s Tax Assessor’s Office.
These rates are based on the 2010 Grand Lists and are current for the fiscal year 2011-2012:
To download a full list of mill rates of all Connecticut communities, please see the CT.gov web site. For more information about local real estate for sale, please call Harriman Real Estate at (203) 672-4499 today!