Life in Newtown, CT

OK, this is NOT an exciting subject, but one that we are asked about quite a bit.  Both buyers and sellers ask us about property taxes and how the Town of Newtown determines the amount due for each property.

Basically, the tax amount for a property is determined by multiplying the Assessed Value by the Mill Rate - but what does that mean?

• Assessed Value:  Every 10 years, the Town of Newtown performs a re-evaluation of property values in town.  The town hires an outside appraisal company who actually goes to every property in town.  This company gives a current market value to the property.  70% of this value becomes the Assessed Value for the property.



• Mill Rate:  The Mill Rate, is the dollar amount charged per thousand dollars of assessed value.  The Mill Rate for the 2008/2009 is $23.20.  The projected Mill Rate for the 2009/2010 tax year is $23.43.

So, to determine your property tax amount, multiply the Assessed Value of your property by the current Mill Rate and that is your property tax amount.  Here's an example: 

Every year, the residents of Newtown vote on the Town Budget.  The Town Budget sets aside funds to pay for the different Town programs, departments, etc and the new mill rate is put into effect once the new Town Budget is passed by the town residents.  One of the ways the Town Budget is funded is through property taxes.  In advance of voting on the Town Budget, it is printed in the Newtown Bee and the projected mill rate is also printed. 

Here are some Frequently Asked Questions (FAQ) from the Tax Assessor's webaite.  Curious about what your new property tax amount will be when the new Mill Rate goes into affect?  This will help you.

If you have any questions about this blog post, please feel free to either email us or call us at the number below.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

Two Newtown, CT annual events are upcoming in June 2009:

• 22nd Annual Lobsterfest:  will be held June 5th and 6th at the Sandy Hook Volunteer Fire Department on Riverside Road, Sandy Hook.  Advance tickets cost $22.00/each and $24.00/each at the door.  This is an event that many town residents attend.  Go early for better parking.



• 35th Annual Rocking Rooster 5K Run/Walk:  Newtown Park and Recreation will be holding its annual Rocking Rooster Run/Walk on Saturday, June 6th.  Run/Walk begins at 8:30 am and leaves from the Reed Intermediate School.  All proceeds to benefit Newtown Scholarship.  Click here for the registration form.



• The Newtown Rooster Rally:  This event will be held on Saturday, June 13th, from 11:30 am to 2:00 pm on Main Street.  The purpose is to celebrate Newtown.  Come celebrate your favorite rooster articles, memorabilia or activities.

Do you know of another Newtown event that you would like to notify other people about?  Email us with the details and we'll post it on www.LifeinNewtown.com for FREE.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

BOB & RICHELLE WARD have SOLD 73 Boggs Hill Road, Newtown & the adjacent lot for $575,000.  

Click on photos to enlarge.

WILD HAVEN AT BOGGS HILL - A rambling 1930's cape with charm and character on picturesque 4.13 acres. Hardwood floors. Fireplace and paneling. 4 bedrooms, 3 full bathrooms. Built-ins, Dutch door in Kitchen. Possible in-law or professional office with a separate entry. Large barn/workshop and in-ground pool. Very flexible floorplan.

This home was originally on 7.67 acres. A 3.54 acre building lot has been cut from this property & is listed (MLS # 98419944) for $224,900. You can purchase all as package for $689,900. Call 203 470-9818 to see this property or for more info.

Click here or go to http://www.73BoggsHill.com for more information on this home.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818