Tax Blog
I want to buy a house in a couple of year so I want to research it now. If I were to buy a house today I want to know what Connecticut towns offer a better property tax rate then others especially in south eastern Connecticut. Also do certain things raise or lower the tax? Or even if anyone knows where I can find this information.
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Tax Questions & Answers
The current mill rates in Connecticut Towns may be found at:
http://www.opm.state.ct.us/igp/DATARESC/mr.htm
The mill rate is the dollars per thousand for assessed valuation. Assessed valuation is supposed to be 70% of the fair market value but seldom is.
Hense: If a house has a fair market value of $500,000 and the mill rate is $21 per 1000 then the tax is (500000 divided by 1000) times .70 times 21 equals 7350.
Assessments are revalued every five years.