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Old 03-08-2007, 08:40 AM
 
175 posts, read 600,157 times
Reputation: 113

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My husband and I are considering a move to Connecticut and we're finding this forum extremely helpful - thanks to all, but I must admit, property tax discussions can be daunting.

Would anyone be able to give me a rough estimation of the yearly tax obligation for a $400,000 property in Bethel? (I can determine what kind of property the money would buy me at realtor.com, I'm just using this number as a starting point).

Are the taxes very different in other Fairfield County towns like Newtown or New Fairfield?

Does it change radically if I look in New Haven or Litchfield Counties?

Thanks for any help you can offer.
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Old 03-08-2007, 09:30 AM
 
Location: connecticut
179 posts, read 209,934 times
Reputation: 35
Quote:
Originally Posted by misueno View Post
My husband and I are considering a move to Connecticut and we're finding this forum extremely helpful - thanks to all, but I must admit, property tax discussions can be daunting.

Would anyone be able to give me a rough estimation of the yearly tax obligation for a $400,000 property in Bethel? (I can determine what kind of property the money would buy me at realtor.com, I'm just using this number as a starting point).

Are the taxes very different in other Fairfield County towns like Newtown or New Fairfield?

Does it change radically if I look in New Haven or Litchfield Counties?

Thanks for any help you can offer.
I know mil rates have slightly changed since then but heres an idea of how fairfield county mil rates compare to each other.

http://www.onlinecthomes.com/public/...?page.ID=41530

anybody else think its a little odd that greenwich, darien, new canaan and similar towns are so low?
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Old 03-08-2007, 10:15 AM
 
Location: NY
12,263 posts, read 8,989,075 times
Reputation: 8015
Quote:
Originally Posted by kd83 View Post

anybody else think its a little odd that greenwich, darien, new canaan and similar towns are so low?

No, that's what makes them so desirable. On the other hand, I suspect the assessed value of many of these expensive homes is such that the actual property tax paid out is on a par with cheaper homes in towns with higher mil rates.
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Old 03-08-2007, 10:20 AM
 
Location: NY
12,263 posts, read 8,989,075 times
Reputation: 8015
Quote:
Originally Posted by misueno View Post
My husband and I are considering a move to Connecticut

CT is very nice, my wife and I are considering moving back there. CT also hits you with an annual property tax on your car, based on the value of your car.
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Old 03-08-2007, 10:45 AM
 
Location: Brookfield CT-Sarasota FL
222 posts, read 753,908 times
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Bethel's mill rate for fiscal year 2005/2006 was 26.48. If the house has a market value of 400,000. The town will then assess the house at 70% of that market value. This will then give you an assessed value of $280,000. You then take the 280,000 and divide it by 1000. This results in 280. You then take the 280 and multiply it by the mill rate of 26.48. This gives you your annual tax of $7,414.

Keep in mind, that the market value of 400,000 may not be the same market value the town is using. The town may be higher or lower. It should not be that much off though.

Their is a website that has the mill rates for all connecticut towns. Do a search of connecticut towns mill rates. You will see the mill rate for all the towns. The lower the mill rate, the more solid the town economy is. And with that comes you guessed it! higher prices for homes.
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Old 03-08-2007, 03:16 PM
 
175 posts, read 600,157 times
Reputation: 113
Thank you everyone! You've given me exactly what I've been looking for. If this is representative of Connecticut, the higher taxes are probably worth it.
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Old 03-09-2007, 12:02 AM
 
Location: Cheshire, Conn.
2,102 posts, read 6,806,762 times
Reputation: 521
Quote:
Originally Posted by gomet View Post
The lower the mill rate, the more solid the town economy is. And with that comes you guessed it! higher prices for homes.
This isn't always true. It could simply imply that a town is behind in its revaluation. Fairfield County towns, for the most part, are right on top of the current real estate market. In other words, when the property is assessed at 70 percent of market value, it's very accurate. My property is currently assessed at about 50 percent. Our mill rate isn't terribly high now, but it was by Cheshire's standards before revaluation.
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Old 03-09-2007, 08:55 AM
 
Location: Danbury CT covering all of Fairfield County
2,179 posts, read 5,756,859 times
Reputation: 956
I am a realtor in the Bethel area. On a $400,000 home, you taxes will between $4200 and $5800, depending on the assessed value.
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