East Lyme, New London County, Connecticut Property Taxes
Median East Lyme, CT effective property tax rate: 2.49%, significantly higher than the national median of 1.02%, but lower than the Connecticut state median of 3.14%.
Median East Lyme, CT home value: $263,830
Median annual East Lyme, CT tax bill: $6,564, $4,164 higher than the national median property tax bill of $2,400.
How are property taxes in New London calculated?
Property taxes in East Lyme, CT are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding East Lyme’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in East Lyme, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
East Lyme, New London County, Connecticut Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.49%
Estimate Property Tax Bill
$6,569
$6,096
Property Tax Rates Across East Lyme, New London County, Connecticut
Local government entities set tax rates, which can vary widely within a state. The reason for this variation is that each county estimates its required budget annually to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
In East Lyme, located in New London County, Connecticut, the effective property tax rate stands out when compared to other cities in the state and the national median. With a property tax rate of 2.49%, East Lyme significantly exceeds the national median property tax rate of 1.02%. This means homeowners in East Lyme are likely to face higher tax bills compared to the national median. Understanding these differences in property tax rates is crucial for property owners, as it directly impacts their annual expenses. By staying informed, property owners can make better financial decisions and potentially explore options for tax appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective East Lyme Tax Rate
2.49%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective New London County Tax Rate
2.72%
Median Effective Connecticut Tax Rate
3.14%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across East Lyme, New London County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06333 | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across East Lyme, New London County, Connecticut
When examining property taxes in East Lyme, CT, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The New London County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In New London County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in East Lyme. For example, the median home price in East Lyme is $263,830, with tax bills ranging significantly across the county. Zip code 06333 has the highest median home price at $263,830.
Property Tax Assessment Values Across East Lyme, New London County, Connecticut
Source: Ownwell
$86,800
$274,225
$461,650
Median East Lyme Market Value
$263,830
Median New London County Market Value
$177,100
Median Connecticut Market Value
$189,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across East Lyme, New London County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06333 | $176,225 | $207,690 | $263,830 | $345,012 | $451,822 |
Source: Ownwell
Property Tax Bills Across East Lyme, New London County, Connecticut
In East Lyme, CT, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to calculate the property tax bill. East Lyme homeowners experience a median tax bill of $6,564, which is significantly higher than the national median of $2,400. Factors such as property size, location, and improvements can influence the assessed value, impacting the overall tax bill. With tax bills ranging from $5,167 at the 25th percentile to $11,241 at the 90th percentile, many homeowners in East Lyme face substantial financial burdens due to property taxes.
Ownwell can help homeowners in East Lyme by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell can potentially lower the assessed value, leading to reduced tax bills. This can offer significant savings and relief to homeowners burdened by high property taxes.
Property Tax Bills Across East Lyme, New London County, Connecticut
Source: Ownwell
$2,672
$6,786
$10,900
Median East Lyme Tax Bill
$6,564
Median New London County Tax Bill
$4,738
Median Connecticut Tax Bill
$6,162
Median United States Tax Bill
$2,400
Property Tax Bills Across East Lyme, New London County, Connecticut
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 06333 | $4,384 | $5,167 | $6,564 | $8,584 | $11,241 |
Source: Ownwell