Current Mill Rates for the Greater New Haven Area

by Harriman Real Estate on January 31, 2011

Current Mill Rates for the Greater New Haven Area

This ain't rocket science!

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:

2011 CT Mill Rates

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!

 
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{ 4 comments… read them below or add one }

1 bankforeclosuressale.com February 3, 2011 at 4:24 pm

Thank you so much for this! We could use more charts plainly and clearly explaining how these rates work. Especially for those of us who are hopeless in math!

2 Harriman Real Estate February 3, 2011 at 6:49 pm

Glad to help, Amy! If there’s something specific you’re looking for, don’t hesitate to let us know and we’ll do our best to clarify it!

3 Jason the Saj January 17, 2012 at 7:27 pm

“The assessment ratio in Connecticut is currently 70% of the property’s fair market value.”

Sad thing is that New Haven never adheres to the part about fair market assessment.

Just look at Zillow to get an idea of what house values are in New Haven. And you quickly realize that New Haven assesses at 100% of market value.

There should be a way to have the State of Connecticut come crashing down on New Haven’s illegal practices. My mother got hit with a 50% tax increase in 2009.

Never, ever, ever let an assessor into your house. One friend who did, has the tinyiest houst on the block. Amost a cottage and got the highest appraisal.

4 Harriman Real Estate January 18, 2012 at 7:55 pm

I hear ya, Jason. Sounds like your mother may have had grounds to dispute her assessment/taxes. I believe that under CT law she had 60 days from the date of the assessment notice to dispute the higher tax rate, did she do that? I sure would have!

Also, I would NOT look at Zillow as a place to find the fair market value of property. Although they are getting better, their Zestimates are usually far off the property’s true value, and Zillow even admits this. If you want to get the most accurate determination of a property, get a CMA from a Realtor. They will find properties similar in style, size and location to compare to your property, and also visit the home to see if there are any adjustments that can be made for updates, additions or features that could add or subtract value from the home, something that Zillow obviously cannot do. CMA’s are usually free of charge and can be done with a minimal intrusion into your home, and you’ll have a much better idea of what the property is worth.

Thank you for stopping by!

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