Thursday, October 16, 2008

Mill Rates for the Greater New Haven Area




Many of our clients have asked what the mill rate is for the town they live in, or the town they wish to move to, so we thought we'd post the list of mill rates of all the towns covered by the Greater New Haven Board of Realtors. For those who are unfamiliar with what a mill rate is, it's how communities calculate the amount of tax you owe on personal property. The actual term is millage rate, but over time it has been shortened to the root word mill, meaning "thousand". A mill is a thousandth of a dollar, or 0.1%. The mill rate is the amount per thousand dollars of assessed property the owner must pay in taxes to the municipality the property is located in. The assessment ratio in Connecticut is currently 70% of the property's fair market value.

Using the table below as an example, the owner of a property in Wallingford that has an assessed value (not appraised value or sales value) of $250,000 would pay $5,725 in taxes based on the listed mill rate of 22.90, or 0.0229. In New Haven, an owner of that same property would pay $10,552.50 in property taxes, based on the current 42.21 mill rate. Any questions on property assessment should be directed to your town's Tax Assessor's Office.

These rates are current as of July, 2008:

Town

Assessment Ratio

Last Evaluation Year

Next Evaluation Year

Mill Rate

Ansonia

70%

2008

2013

25.25

Beacon Falls

70%

2006

2011

24.73

Bethany

70%

2008

2013

30.03

Branford

70%

2004

2009

23.21

Cheshire

70%

2008

2013

28.05

Derby

70%

2005

2010

26.40

East Haven

70%

2006

2011

22.85

Guilford

70%

2007

2012

19.19

Hamden

70%

2005

2010

29.42

Huntington

70%

2006

2011

18.61

Killingworth

70%

2006

2011

21.00

Madison

70%

2007

2012

17.84

Meriden 1

70%

2006

2011

27.96

Meriden 2

70%

2006

2011

29.89

Milford

70%

2006

2011

28.23

Naugatuck

70%

2007

2012

31.7 *

New Haven

70%

2006

2011

42.21

North Branford

70%

2005

2010

24.95

North Haven

70%

2005

2009

23.50

Orange

70%

2006

2011

27.94

Oxford

70%

2005

2010

20.33

Seymour

70%

2005

2010

25.52

Shelton

70%

2006

2011

18.61

Southington

70%

2005

2010

23.02

Stratford

70%

2004

2009

30.51

Wallingford

70%

2005

2010

22.90

W. Haven 1

70%

2005

2010

35.56

W. Haven -Allington

70%

2005

2010

33.96

W. Haven – W. Shore

70%

2005

2010

33.85


* = Going to referendum
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