2024-2025 FY Connecticut Property Mill Tax Rates

How are Property Tax Bills Calculated in Connecticut?

In Connecticut, property tax rates are determined by local municipalities and are based on two key factors: the assessed value of your property and the mill rate set by your town or city. Here's how it works:

Assessed Value of Property

Each municipality assesses properties at 70% of their fair market value. For example, if your home is estimated to be worth $400,000, the assessed value would be $280,000 (70% of $400,000).

Mill Rate

The mill rate is the amount of tax due per dollar of assessed value, expressed in mills (one mill equals $1 in tax per $1,000 of assessed value). Each municipality sets its own mill rate annually based on its budget needs. For instance, in Andover, the mill rate for real estate and personal property is 31.46 mills for the fiscal year 2024–2025.

Setting the Mill Rate

Local governing bodies, such as the Board of Finance or Town Council, set the mill rate annually. They determine the total revenue needed (grand levy) to cover the municipality's budget and divide it by the total assessed value of all taxable properties (grand list) to establish the mill rate.

Revaluation

Connecticut law requires municipalities to revalue real property every five years, with at least one physical inspection every 10 years. This ensures property assessments reflect the current market conditions.

Tax Relief Programs

Certain exemptions and tax relief programs are available for qualifying individuals, such as seniors, veterans, and those with disabilities. These programs can reduce the amount of property tax owed. Eligibility and benefits vary by municipality, so it's advisable to consult your local tax assessor's office for specific information.