Connecticut’s property tax system relies on mill rates, representing dollars of tax per $1,000 of assessed property value. This assessed value, typically a percentage of the property’s market value, varies by municipality. Consequently, the actual tax burden depends on both the mill rate and the assessed value specific to the property’s location. For example, a property assessed at $200,000 in a town with a mill rate of 20 would have an annual property tax of $4,000.
Funding essential municipal services such as education, public safety, and infrastructure relies heavily on property taxes. These revenues play a crucial role in maintaining the quality of life within local communities and supporting vital public services that benefit residents. Historically, property taxes have formed a cornerstone of local government finance in Connecticut, providing a stable revenue stream for essential services.