Connecticut vs Nevada
Property‑Tax Comparison: Connecticut vs. Nevada
Introduction
Both Connecticut and Nevada levy property taxes that fund local services such as schools, public safety, and infrastructure. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the two states differ markedly in effective tax rates, median home values, and median household incomes. The data below provides a side‑by‑side view of these metrics and highlights the relative tax burden for typical homeowners.
Side‑by‑Side Comparison
| Metric | Connecticut | Nevada |
|---|---|---|
| Effective property‑tax rate | 1.92 % | 0.49 % |
| Median home value | $343,200 | $406,100 |
| Median annual property tax | $6,575 | $1,970 |
| Property tax on a $250,000 home | $4,789 | $1,213 |
| Property tax on a $500,000 home | $9,579 | $2,425 |
| Median household income | $93,760 | $75,561 |
| Link to state‑specific page | Connecticut property tax | Nevada property tax |
All figures are drawn from the U.S. Census Bureau's 2023 ACS 5‑year estimates.
Which State Has the Lower Property‑Tax Burden?
- Winner (lower tax rate): Nevada
- Rate difference: 1.43 percentage points (Nevada’s rate is 74.68 % lower than Connecticut’s).
- Annual tax difference on a $250k home: $3,576 lower in Nevada.
- Annual tax difference on a $500k home: $7,154 lower in Nevada.
Why Nevada wins: The effective property‑tax rate of 0.49 % is less than one‑quarter of Connecticut’s 1.92 %. Because the rate is applied to the assessed value of the property, the absolute tax paid is lower in Nevada even though the median home value there is higher than in Connecticut.
Who Might Benefit Most from This Comparison?
| Audience | Relevance of the Data |
|---|---|
| Current or prospective homeowners | Lower Nevada rates reduce the ongoing cost of owning a home, especially for higher‑value properties. |
| Retirees on fixed incomes | A lower tax burden can make Nevada more affordable for those whose income does not keep pace with property‑tax increases. |
| High‑value home owners | The absolute tax savings on $500k‑plus homes are larger in Nevada, offering significant long‑term cost advantages. |
| Low‑to‑moderate‑income households | Although Connecticut’s median household income is higher, the higher tax rate may offset that advantage for owners of median‑priced homes. |
| Real‑estate investors | Property‑tax differentials affect cash‑flow projections; Nevada’s lower rates improve net operating income assumptions. |
The comparison is strictly quantitative; it does not account for other state‑level costs (e.g., income tax, sales tax) or non‑tax quality‑of‑life factors.
Summary
Based on the most recent ACS estimates, Nevada’s effective property‑tax rate (0.49 %) is substantially lower than Connecticut’s (1.92 %). Consequently, Nevada homeowners face lower annual property‑tax payments across typical home values, a factor that can be especially important for retirees, low‑to‑moderate‑income families, and owners of higher‑priced residences. For anyone evaluating the overall cost of home ownership in these two states, property‑tax rates are a primary quantitative metric to consider.
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Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.