Connecticut

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Calculating Connecticut Property Tax Mill Rates
This following guide is good for getting a general estimate. Please see a professional to calculate the actual tax. Also, please note that the Mill rate may or may not include other rates that may be assessed as part of the property tax, such as taxes for schools and libraries.

A mill is equal to $1.00 of tax for each $1,000 of assessment. To calculate the property tax, multiply the assessment of the property by the mill rate and divide by 1,000.

So, we know:
Ratio, Mills to Value: 1:1000

Let's assume:
Assessed Property Value: $50,000
Mill Rate: 20

Here's our Equation: (Assessed property value x Mill rate)/1000

Here's the Math, plugging in our assumptions: (50,000x20)/1000
=> (1,000,000/1000)
=> $1000 per year

Local property tax mill rates have been set for individual Connecticut municipalities for fiscal year 2007-2008. These rates are based upon the 2006 grand list and are available on the Office of Policy and Management's web site. The highest Mill rate for the 2006-2007 tax season is 63.39 (Hartford).

A simpler way to do it would be to figure what 3% of the assessed value is. A property considered $50,000 in value will run approximately $1,500 per year.

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