In Hartford, the mill rate is 68.95 for real property and 32.46 for motor vehicles. But it is important to know that, in Hartford, residential property and commercial property are assessed differently. So if you own a residential property that’s single family or for two or three families, your effective mill rate is actually much lower.
Currently, the effective mill rate for residential real estate is 36.20, half the rate of other taxable real estate and business personal property. Everywhere in the state of Connecticut except for the City of Hartford, taxable property is assessed at 70% of fair market value. This year in Hartford, residential property is assessed at 36.75% of fair market value.
Residential Real Estate is defined as Single Family homes, Residential Condos and 1-3 Family homes. Commercial Real Estate is defined as 4+ family homes, Commercial condos and Commercial (Business, Retail, etc.) properties.