[BostonBornMassMade]

https://www.newhavenct.gov/gov/depts...ble%20property.

Mill Rate
The mill rate for the 2020 Grand List is 43.88. A mill rate of one mill means that owners of real, personal and motor vehicle property are taxed at a rate of $1 on every $1,000 of assessed taxable property. Therefore, a property assessed at $10,000. will pay a tax of $438.80.

Is this true?

New Haven has a mill rate of 43.88$. So that equates to 4.388%. Levied at 70% of its assessed value leaves you with a property tax rate of 3.07%. That's absurd if this is really the case. Am I missing something?

Waterbury has a mill rate of $60.12... 4.2% Property tax...., Hartford $74.58 (but Hartford levies at 35% of the assessed value) 2.6% property tax.

Please tell me I am missing something here.

[CTartist]

Originally Posted by BostonBornMassMade

https://www.newhavenct.gov/gov/depts...ble%20property.

Mill Rate
The mill rate for the 2020 Grand List is 43.88. A mill rate of one mill means that owners of real, personal and motor vehicle property are taxed at a rate of $1 on every $1,000 of assessed taxable property. Therefore, a property assessed at $10,000. will pay a tax of $438.80.

Is this true?

New Haven has a mill rate of 43.88$. So that equates to 4.388%. Levied at 70% of its assessed value leaves you with a property tax rate of 3.07%. That's absurd if this is really the case. Am I missing something?

Waterbury has a mill rate of $60.12... 4.2% Property tax...., Hartford $74.58 (but Hartford levies at 35% of the assessed value) 2.6% property tax.

Please tell me I am missing something here.

First there is the APRAISED VALUE* of a property.

The ASSESED value is 70% of the appraised value.

To make this easier let's say a New Haven house/condo is APPRAISED* at $100,000. Your assessed value would be $70,000. So the $70,000 assessed value is used when figuring out the taxes.

*The full value.

[BostonBornMassMade]

I messed up the verbiage (appraised vs assessed) in my last post but the point remains the same. I'm talking about the effective tax rate.

If the mills are $43.88 per $1,000 in New Haven like I said then....$30.72. .... your effective tax rate is 3.07% Yes? That's all I really want to know.

Why are tax questions hard to get straight answers to, generally? Is it really that variable and/or complex via the system of write-offs, loopholes etc. that we as a society shy away from the straight answer? I'm asking genuinely, I don't pay property tax. One reason I don't is that I dont like the "mystique" around mortgages and tax law, or the variability and that's before I get to the responsibility and being wed to a property in a locale I have no control over.

[WestRiverTraveler]

Let me just give a concrete example.

I bought my house in August 2020 for $365k. My current assessed value is $226K. My annual property tax bill is $6500. Mil rate in my town is 28.85. When they reassess, it will go up. The appraised value is much higher now. It's an 1850 sq ft house on 1.5 acres. Breaks down to $3.6 per sq ft per year.

With a SALT cap at $10,000, I don't even itemize my deductions. No big write offs or loopholes for me.

[SteveM85]

Originally Posted by BostonBornMassMade

Levied at 70% of its assessed value leaves you with a property tax rate of 3.07%.

That's the basics, you had the right verbiage, though in real life it never really works at that way mathematically for every home. You have to look at them individually. You see homes assessed for the same amount but with different prop tax rates, in the same town.

[CTartist]

Originally Posted by BostonBornMassMade

I messed up the verbiage (appraised vs assessed) in my last post but the point remains the same. I'm talking about the effective tax rate.

If the mills are $43.88 per $1,000 in New Haven like I said then....$30.72. .... your effective tax rate is 3.07% Yes? That's all I really want to know.

Why are tax questions hard to get straight answers to, generally? Is it really that variable and/or complex via the system of write-offs, loopholes etc. that we as a society shy away from the straight answer? I'm asking genuinely, I don't pay property tax. One reason I don't is that I dont like the "mystique" around mortgages and tax law, or the variability and that's before I get to the responsibility and being wed to a property in a locale I have no control over.

You got it.

"being wed to a property in a locale I have no control over"

You are correct. If you buy a property in one of CT's very Democratic cities there is no telling how high your taxes can go. It's a shame CT's poorest people have that heavy tax burden on them.....but that is what they vote for.

[BostonBornMassMade]

Originally Posted by SteveM85

That's the basics, you had the right verbiage, though in real life it never really works at that way mathematically for every home. You have to look at them individually. You see homes assessed for the same amount but with different prop tax rates, in the same town.

Thanks, I figured there are little bits of nuance that cause variable things. WRT's house should be assessed at 255k (70% of 362k) but he's got it at 226k-I see why he says it will go up.

So It would be fair to say that on AVERAGE a property tax bill in New Haven is about 3.07% of the property's appraised value, and 4.38% of the assessed value (70% of the appraised value).


That is awfully high my goodness. In Boston, you're looking at .77% property tax. I knew taxes were very high in CT but that's just crazy now wonder the property values are so low. 6500 tax per annum and only going up (probably siginificantly) on a 362k home? Ehhh

[SteveM85]

Originally Posted by CTartist

You got it.

"being wed to a property in a locale I have no control over"

You are correct. If you buy a property in one of CT's very Democratic cities there is no telling how high your taxes can go. It's a shame CT's poorest people have that heavy tax burden on them.....but that is what they vote for.

CT's poorest don't pay property taxes because they don't own homes. They pay subsidized rents.
I'd venture to say a good majority of homes in those cities are investor owned by those who can afford to buy the state's cheapest homes. Sometimes multiples.

[BostonBornMassMade]

Originally Posted by SteveM85

CT's poorest don't pay property taxes because they don't own homes. They pay subsidized rents.
I'd venture to say a good majority of homes in those cities are investor owned by those who can afford to buy the state's cheapest homes. Sometimes multiples.

But if you're a middle-class family owning in East Rock 3.07% of your property's appraised value every year is kinda bonkers. I guess that explains why there are not many of them- because driving around New Haven it looks like it should have more of an owner-occupied middle class. The tax has to be forcing some SFHs to Section 8 or something.

[SteveM85]

Originally Posted by BostonBornMassMade

Thanks, I figured there are little bits of nuance that cause variable things. WRT's house should be assessed at 255k (70% of 362k) but he's got it at 226k-I see why he says it will go up.

So It would be fair to say that on AVERAGE a property tax bill in New Haven is about 3.07% of the property's appraised value, and 4.38% of the assessed value (70% of the appraised value).


That is awfully high my goodness. In Boston, you're looking at .77% property tax. I knew taxes were very high in CT but that's just crazy now wonder the property values are so low. 6500 tax per annum and only going up (probably siginificantly) on a 362k home? Ehhh

Boston is much more expensive than CT majors. You know that.
WRT is in a Bronze Plate town with Gold Plate schools. 6500 on a 362 sounds about right and a tremendous deal for CT Gold Plate school district. Homes don't cost nearly that much in the majors.