What type of tax is the real property tax in Connecticut?

The real property tax in Connecticut is classified as an ad valorem tax, which means that it is based on the assessed value of the property. This type of tax reflects the value of the property and is typically levied by local governments. The term "ad valorem" is derived from Latin, meaning "according to value," and it ensures that property owners pay tax according to the market value of their real estate holdings.

This system is in place to provide a fair taxation framework, where more valuable properties incur higher taxes, in contrast to properties of lesser value. Local assessors evaluate properties periodically to determine their worth, which in turn influences the amount of property tax owed. Understanding this classification is essential for comprehending how local governments generate revenue through property taxation in Connecticut.