Waterford, New London County, Connecticut Property Taxes

Name: Property Tax Bills Across Waterford, New London County, Connecticut
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Waterford, CT effective property tax rate: 2.12%, significantly higher than the national median of 1.02%, but lower than the Connecticut state median of 3.14%.
Median Waterford, CT home value: $210,830
Median annual Waterford, CT tax bill: $4,470, $2,070 higher than the national median property tax bill of $2,400.

How are property taxes in New London calculated?

Property taxes in Waterford, 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 Waterford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Waterford, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Waterford, New London County, Connecticut Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.12%

Estimate Property Tax Bill

$4,470

$4,148

Ownwell’s Waterford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waterford with just two data points. By entering your property's estimated assessed value, our calculator applies Waterford’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in New London County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Waterford, New London County, Connecticut

Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each county estimates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While setting tax rates and budgets involves votes and laws, this is essentially the annual process.

In Waterford, located in New London County, the effective property tax rate is notably higher than the national median of 1.02%. The median property tax rate in Connecticut is also higher than the national average, reflecting the state's reliance on property taxes to fund local services. This can have a significant impact on homeowners, as the property tax bill in Waterford is likely to be above the national median of $2,400. Comparing Waterford’s property tax rate to other cities in Connecticut can provide valuable insights for homeowners considering relocation or appealing their property taxes. Understanding these variations can help property owners make informed decisions and potentially reduce their tax burden.

Property Tax Rates Across Waterford, New London County, Connecticut

Source: Ownwell

1.91%

3.05%

4.19%

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 Waterford Tax Rate

2.12%

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 Waterford, New London County, Connecticut

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
06385	2.12%	2.12%	2.12%	2.12%	2.12%

Source: Ownwell

Property Tax Assessment Values Across Waterford, New London County, Connecticut

When examining property taxes in Waterford, 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 the season. 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 Waterford.

For example, the median home price in Waterford is $210,830, with tax bills ranging significantly across the county. Zip code 06385 has the highest median home price at $210,830.

Property Tax Assessment Values Across Waterford, New London County, Connecticut

Source: Ownwell

$86,800

$274,225

$461,650

Median Waterford Market Value

$210,830

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 Waterford, New London County, Connecticut

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
06385	$132,430	$163,150	$210,830	$276,170	$394,680

Source: Ownwell

Property Tax Bills Across Waterford, New London County, Connecticut

In Waterford, CT, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value, resulting in the annual property tax bill. In Waterford, the median property tax bill is significantly higher than the national median, reflecting the town's higher property values and tax rates. For instance, the 25th percentile tax bill is $3,460, while the 75th percentile reaches $5,861, and the 90th percentile climbs to $8,367. These figures illustrate the substantial impact property taxes can have on homeowners in the area, often representing a significant portion of their annual expenses. Ownwell can assist homeowners in Waterford by providing expert property tax appeal services. By ensuring that properties are accurately assessed and identifying potential exemptions, Ownwell helps homeowners reduce their tax burden, potentially saving them hundreds or even thousands of dollars annually.

Property Tax Bills Across Waterford, New London County, Connecticut

Source: Ownwell

$2,672

$6,786

$10,900

Median Waterford Tax Bill

$4,470

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 Waterford, New London County, Connecticut

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
06385	$2,808	$3,460	$4,470	$5,861	$8,367

Source: Ownwell