Property taxes are one of the most important numbers to understand before buying in Stamford — and one of the most misunderstood. The mill rate sounds large, but it is applied to the assessed value (70% of market value), not the sale price. Here is what it actually means for your budget.
How to calculate your Stamford property tax
- Take the purchase price of the home.
- Multiply by 0.70 to get the assessed value (Connecticut's assessment ratio).
- Multiply the assessed value by the mill rate ÷ 1,000 to get the annual tax.
Example: $650,000 sale price × 0.70 = $455,000 assessed value. $455,000 × 0.02317 = ~$10,542/year in property tax.
Property tax estimates by home price
| Purchase price | Assessed value (70%) | Est. annual tax (~23 mills) |
|---|---|---|
| $350,000 | $245,000 | ~$5,677/yr |
| $500,000 | $350,000 | ~$8,110/yr |
| $650,000 | $455,000 | ~$10,540/yr |
| $850,000 | $595,000 | ~$13,790/yr |
| $1,200,000 | $840,000 | ~$19,460/yr |
These are estimates based on the approximate 2024–2025 mill rate. Always verify the current mill rate with the City of Stamford Tax Assessor before budgeting.
Key things to know before you close
- The assessed value may not match your sale price. If you buy after a revaluation period, your new assessed value will be set at 70% of your purchase price. But between revaluations, the assessed value can lag (or overshoot) the market. Check the current assessed value in the Stamford property records before assuming.
- Tax bills come twice per year. Due dates are typically July 1 and January 1. If your lender escrows taxes, they collect 1/12 each month and pay on your behalf.
- Condos carry the same mill rate but on a lower assessed value — which is why condo owners pay less in absolute property tax than single-family home owners in the same neighborhood.
- You can appeal. If you believe your assessment is too high, you have 90 days after a revaluation notice to appeal to the Board of Assessment Appeals.
How Stamford compares to neighboring towns
| Town | Approx. mill rate | Assessment ratio |
|---|---|---|
| Stamford | ~23 mills | 70% |
| Greenwich | ~11–12 mills | 70% |
| Westport | ~18–19 mills | 70% |
| Norwalk | ~25–26 mills | 70% |
| Darien | ~17–18 mills | 70% |
Lower mill rate ≠ lower tax bill if the home prices are higher. Do the full calculation for each town you are considering.
Want help running the numbers on a specific home?
If you are comparing two properties and want to know what each will actually cost after taxes and mortgage, reach out and I will walk through it with you.
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