06031 Property Tax Rate

Property owners in ZIP code 06031 (Falls Village, Connecticut) pay a median of $6,089/year in property taxes on homes valued at $465,100. This translates to an effective tax rate of 1.31%, which is 27% below the Connecticut state average of 1.78%.

The monthly property tax burden for a median-valued home in 06031 is approximately $507, which factors into escrow payments on mortgages. This ZIP code is located within Litchfield County. This is $354 less than the Connecticut average of $6,443/year.

Compared to similar ZIP codes in Connecticut, 06031 has lower property taxes. ZIP codes with similar effective rates include 06755 (1.33%) and 06254 (1.33%).

In Falls Village, property taxes represent approximately 6.1% of the median household income of $99,219, providing context for the relative tax burden on homeowners in this area.

Connecticut has no statewide property tax cap; Litchfield County reassesses at market value during regular revaluation cycles or at sale, which may raise your tax obligations significantly. The Homestead Exemption is available in many Litchfield towns and reduces assessed value; contact your municipal assessor's office within 30 days of purchase to apply. Request a copy of your property's assessment card to verify accuracy and learn your specific revaluation schedule and appeal deadlines.