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. For where Stamford home values themselves stand, see my Stamford market report.
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 × 0.02336 (District A) = ~$10,629/year in property tax.
Property tax estimates by home price
| Purchase price | Assessed value (70%) | Est. annual tax (District A, 23.36 mills) |
|---|---|---|
| $350,000 | $245,000 | ~$5,720/yr |
| $500,000 | $350,000 | ~$8,180/yr |
| $650,000 | $455,000 | ~$10,630/yr |
| $850,000 | $595,000 | ~$13,900/yr |
| $1,200,000 | $840,000 | ~$19,620/yr |
These are estimates based on the 2024–2025 District A mill rate (23.36); district rates range from 22.76 to 23.36. 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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FAQ
How does Connecticut property tax assessment work?
Connecticut towns and cities assess residential property at 70% of its estimated fair market value (this percentage is called the assessment ratio). The mill rate is then applied to the assessed value, not the full sale price. One mill equals $1 of tax per $1,000 of assessed value. So if Stamford's mill rate is 23 mills and your home's assessed value is $455,000, your annual tax is $455,000 × 0.023 = $10,465. Towns revalue property periodically (Stamford has done revaluations roughly every 5 years); between revaluations, the assessed value may diverge from current market value.
How do Stamford's property taxes compare to Greenwich?
Greenwich has a lower mill rate than Stamford (around 11–12 mills vs. Stamford's ~23 mills), but Greenwich home values are so much higher that the absolute tax bill is often larger. A $2,000,000 Greenwich home assessed at $1,400,000 at 12 mills generates a $16,800 annual tax bill. A $650,000 Stamford home assessed at $455,000 at 23 mills generates a $10,465 bill. If you are comparing towns, look at the dollar amount you will actually pay, not just the mill rate.
Are property taxes included in my mortgage payment in Connecticut?
Usually yes, if your lender requires an escrow account (common when you put less than 20% down). The lender collects 1/12 of your estimated annual property tax each month and pays the bill when it is due. If you put 20% or more down, some lenders allow you to waive escrow and pay the tax bill yourself, directly to the City of Stamford twice per year (July and January are the typical due dates). Confirm the escrow terms with your lender before closing.
Can I appeal my property tax assessment in Stamford?
Yes. Connecticut property owners can appeal their assessment to the Board of Assessment Appeals (BAA) within 90 days of the notice date following a revaluation, or annually. You need to show that your assessed value is higher than 70% of the property's actual market value. A licensed appraisal or comparable sales evidence is typically required to make a successful appeal. Owners who recently purchased at a price below the implied assessed value (i.e., they paid less than assessed value ÷ 0.70) have the strongest basis for appeal.