THE CURRENT REAL ESTATE AND PERSONAL PROPERTY MILL RATE: 2020 is 46.17 mills or $46.17 per $1,000 of assessment
ex: $100,000 assessed value X .04617 = $4,617.00 tax
THE CURRENT 2020 MOTOR VEHICLE MILL RATE: 45.00 mills or $45.00 per $1,000 of assessment.
In the State of Connecticut, property taxes are ad valorem; this means they are based on the value of the property. Per Connecticut General Statute 12-62a, property is uniformly assessed as of the October 1st assessment date (which is oftentimes referred to as the Grand List date). Assessments are 70% of the value of the property. For motor vehicles, the assessment is therefore 70% of the average retail value, aka clean retail value of that vehicle from the pricing guide selected for that assessment year. For real estate, the assessment is 70% of the market value of the property as of the last revaluation. Revaluations occur every five years to update the values based on the changes in market.