Cost of Living in New Milford
New Milford's cost of living runs genuinely affordable relative to Connecticut's statewide median, backed by a real, dramatic 2026 property-tax drop.
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Learn moreHousing below the statewide median
New Milford's 2026 housing figures ran $392,287-$402,728 depending on source, below Connecticut's own statewide median home price of approximately $476,508 (base record).
A real, dramatic mill-rate drop
New Milford's FY2026-27 mill rate fell to 23.68 (from 30.96), computing to a mill-rate-derived effective property tax rate of approximately 1.66% -- driven by a real ~30% grand-list revaluation increase (base record).
A new homestead exemption, honestly disclosed
A real, newly-enacted Homestead Tax Exemption Act further reduces primary-residence tax bills effective July 2026, though this record discloses a genuine, unresolved ambiguity in its precise mechanism against Connecticut's separate general homestead statute (base record).
Key takeaways
- New Milford's housing runs genuinely affordable versus Connecticut's statewide median.
- A real, dramatic FY2026-27 mill-rate drop (30.96 to 23.68) meaningfully lowers property tax bills.
- A new homestead exemption applies, though its precise mechanism should be confirmed directly with the Assessor's Office.
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