Connecticut Mortgage Calculator
Connecticut abolished county government decades ago, so every town sets its own mill rate on 70% of your home’s value — pick a town below to see the real spread.
Loan & Property Details
Auto-fills from the town selected above; edit if you know your exact town’s current mill rate.
Your Estimated Monthly Payment
Choose a town and enter your details to see a plain-language read on your payment.
What If You Paid Extra Toward Principal?
Slide to test an extra monthly payment and see how many years and how much interest it saves.
What If Your Rate Changes?
Your 5-Year Equity Snapshot
Good to Know: What a Seller Pays (Conveyance Tax)
You won’t pay this as a buyer, but it’s worth understanding since you’ll be a seller someday.
| State conveyance tax, up to $2.5M | 0.75% of sale price |
| State conveyance tax, portion above $2.5M | 1.25% of that portion |
| Municipal conveyance tax | 0.25% (0.5% in a handful of distressed municipalities) |
| Who pays | Seller, at closing |
| Example on a $500,000 sale | (0.75% + 0.25%) × $500,000 = $5,000 |
Why Connecticut Doesn’t Have County Property Tax Rates
Search for a “county property tax rate” in Connecticut and you’ll come up empty, and there’s a real reason why. Connecticut effectively abolished county government in 1960, and the last functioning county-level office, the county sheriff, was eliminated in 2000. What’s left are eight geographic county names still used for census and mailing purposes, but zero county government and zero county-level taxation. All property tax in Connecticut is set, assessed, and collected entirely by its 169 individual towns and cities, each running its own budget, its own assessor, and its own mill rate. That’s why this calculator is built around towns, not counties, and it’s also why the tax gap between two Connecticut addresses ten miles apart can be larger than the gap between two entire states.
Hartford, New Haven, Stamford, and Greenwich: the same state, an entirely different bill
Hartford, the state capital, carries the highest mill rate of any major Connecticut town, a reflection of a smaller commercial tax base supporting a city-level budget. New Haven, home to Yale, runs a high mill rate as well, though somewhat below Hartford’s. Stamford, a major Fairfield County business hub, runs a moderate mill rate on much higher home values. Greenwich, at the low end, runs one of the lowest mill rates in the entire state, a pattern that holds across most of lower Fairfield County: the towns with the highest home values tend to carry the lowest mill rates, because a smaller rate applied to a much larger tax base still funds the town budget. Switching towns above resets both the price and mill rate defaults to match.
| Home fair market value | $400,000 |
| Connecticut assessment ratio | 70% |
| Assessed value | $280,000 |
| Hartford mill rate | 74.3 |
| Estimated annual tax, Hartford | $280,000 ÷ 1,000 × 74.3 ≈ $20,804 |
| Same home, Greenwich mill rate | 11.3 |
| Estimated annual tax, Greenwich | $280,000 ÷ 1,000 × 11.3 ≈ $3,164 |
The identical home, the identical value, and a roughly $17,600-a-year difference in tax alone, purely from which town line it sits inside. No other input in this calculator moves the number nearly as much.
The 70% assessment ratio, explained
Every Connecticut town assesses property at 70% of its fair market value, a rule set by state statute, then applies its own locally determined mill rate to that reduced figure. A “mill” is simply $1 of tax for every $1,000 of assessed value. This calculator applies that same math directly, so the number you see is calculated the same way your town’s assessor calculates it.
The Circuit Breaker credit and other relief most eligible owners overlook
Connecticut’s state-funded Elderly and Disabled Homeowners’ Circuit Breaker program delivers a credit of up to $1,000 for single filers or $1,250 for married couples directly against the local tax bill, for owners 65 and older or totally disabled who meet income limits, roughly $53,400 single or $65,000 joint for 2026. It’s applied for with the local assessor each year between February 1 and May 15, not automatically renewed. Separately, honorably discharged veterans qualify for a minimum $1,500 reduction in assessed value statewide, with many towns offering additional local-option amounts on top. The toggle above models the Circuit Breaker credit; check with your specific town for the veterans exemption and any additional local senior programs, since several towns layer on their own supplemental relief.
Connecticut’s conveyance tax: a real cost, almost always the seller’s
Connecticut charges a real state conveyance tax on home sales, 0.75% up to $2.5 million and 1.25% on any amount above that, plus a municipal conveyance tax of 0.25% in most towns. It’s customarily paid by the seller at closing, so it won’t touch your monthly mortgage payment as a buyer, but it’s a real cost worth understanding well before you’re the one selling.
Common Mistakes Connecticut Buyers Make With the Numbers
- Looking for a “county” tax rate. Connecticut has no functioning county government; every rate is set at the town level.
- Comparing home prices without comparing mill rates. A cheaper home in a high-mill-rate city can carry a similar or higher tax bill than a pricier home in a low-mill-rate town.
- Forgetting the 70% assessment ratio when estimating by hand. Multiplying full market value directly by the mill rate overstates the bill by roughly 30%.
- Assuming Circuit Breaker relief renews automatically. It must be reapplied for with the local assessor during the annual filing window.
- Confusing the conveyance tax with an ongoing cost. It’s a one-time, typically seller-paid closing charge, not a recurring bill like property tax.
Tips for Lowering Your Connecticut Mortgage Payment
- Compare mill rates across town lines as seriously as you compare home prices; the tax gap between neighboring towns can be thousands of dollars a year.
- If a borrower on title is 65 or older or totally disabled, apply for the Circuit Breaker credit with the local assessor during the February–May window every year.
- If a veteran is on title, confirm both the statewide minimum exemption and any additional local-option exemption with the town assessor.
- Compare rate quotes from at least three lenders active specifically in the Hartford and Fairfield County markets, since local pricing can differ from national averages.
- Use the extra-payment scenario above; even a modest additional principal payment compounds meaningfully over a 30-year Connecticut loan.
Frequently Asked Questions
Does Connecticut have counties for property tax purposes?
No. Connecticut abolished county government in 1960, and the last county-level office was eliminated in 2000. All property tax is set and collected by each of the state’s 169 individual towns and cities.
How is property tax calculated in Connecticut?
Each town assesses homes at 70% of fair market value, then applies its own locally set mill rate, expressed as dollars of tax per $1,000 of assessed value, to that figure.
Which Connecticut town has the highest property tax rate?
Hartford carries the highest mill rate among Connecticut’s major towns and cities, followed closely by other urban centers like Waterbury and Bridgeport.
Which Connecticut town has the lowest property tax rate?
Several wealthy lower Fairfield County towns, including Greenwich, Darien, Westport, and New Canaan, post the lowest mill rates in the state, generally under 20 mills.
What is Connecticut’s Circuit Breaker program?
A state-funded credit of up to $1,000 for single filers or $1,250 for married couples, applied directly against the local property tax bill for income-qualified homeowners 65 or older or totally disabled.
Does Connecticut have a real estate conveyance tax?
Yes, a state conveyance tax of 0.75% up to $2.5 million (1.25% above that) plus a municipal conveyance tax typically around 0.25%, customarily paid by the seller.
Do veterans get a property tax break in Connecticut?
Yes, honorably discharged veterans receive a minimum $1,500 reduction in assessed value statewide, with many towns offering additional local-option exemptions.
What down payment do I need to buy a home in Connecticut?
Conventional loans often start around 5% down, FHA loans typically require 3.5%, and VA loans can allow 0% down for eligible veterans.
When can I remove PMI on a Connecticut home loan?
Federal law allows requesting PMI removal at 20% equity, with automatic lender cancellation at 22% equity based on the original amortization schedule.
Does this calculator include closing costs?
No, this tool estimates the ongoing monthly payment only. Connecticut closing costs, including title insurance and the conveyance tax for sellers, typically add a few percent of the purchase price.
References
- Connecticut Office of Policy and Management, mill rates and Circuit Breaker program guidance – portal.ct.gov/opm
- Hartford, New Haven, Stamford, and Greenwich Assessor offices, current mill rates – town government sites
- Connecticut General Statutes § 12-62 (assessment ratio) and conveyance tax provisions
- Freddie Mac Primary Mortgage Market Survey, weekly national rate averages – freddiemac.com/pmms
Related DexoCalc Tools
This Connecticut mortgage calculator is part of the Mortgage Calculators cluster I am building out on DexoCalc. Start with the national Mortgage Calculator to compare Connecticut against any other state, see the country’s highest property tax rates in the New Jersey Mortgage Calculator, check a state at the opposite extreme in the Arizona Mortgage Calculator, or see Hawaii’s own county-decentralized system in the Hawaii Mortgage Calculator. Browse every state-specific tool as new ones publish on the full Mortgage Calculators hub.
This calculator provides estimates for educational purposes only and is not a loan offer, pre-approval, or substitute for advice from a licensed Connecticut mortgage professional or tax advisor. Property tax, credit, and conveyance tax figures are approximations that vary by town and individual circumstances; confirm exact figures with your town assessor. Sources: CT OPM, town assessor offices, Freddie Mac.