Connecticut Real Estate Tools

CT Real Estate Glossary

Definitions of Connecticut real estate terms from 8-30g to mill rates.

Mill Rate A mill rate is the property tax rate per $1,000 of assessed value. In Connecticut, each municipality sets its own … Conveyance Tax Connecticut's real estate conveyance tax is paid by the seller at closing. It includes a state portion (0.75%–1.25% depending on … Assessed Value The value assigned to a property by the local assessor for tax purposes. Connecticut assesses most residential property at 70% … 8-30g Affordable Housing Connecticut General Statute 8-30g allows developers to appeal local zoning denials in towns where less than 10% of housing stock … SmartMLS SmartMLS is Connecticut's largest multiple listing service, covering most of the state. Agents list active, pending, and sold properties; market … Days on Market (DOM) The number of days a listing has been active on the MLS before going under contract or expiring. Rising DOM … Grand List The total assessed value of all taxable property in a Connecticut municipality. Assessors publish the grand list annually; it drives … Zoning Local regulations that govern how land may be used — residential, commercial, industrial, mixed-use. Zoning changes and P&Z hearings are … Cap Rate Capitalization rate equals net operating income divided by property value, expressed as a percentage. Investors use cap rates to compare … Title Insurance A one-time premium paid at closing that protects against defects in the property title. Connecticut buyers typically purchase lender's and … Homestead Exemption Some Connecticut municipalities offer property tax relief programs for seniors, veterans, or low-income homeowners. Eligibility and benefit amounts vary by … Planning & Zoning (P&Z) The local commission that reviews development applications, site plans, and zoning text amendments. P&Z decisions shape Connecticut's housing supply and … Transfer Tax Another name for Connecticut's real estate conveyance tax — a tax on the transfer of property ownership, typically paid by … Fair Market Value The price a willing buyer and seller would agree upon in an open market. Assessors use fair market value as … Revaluation A periodic reassessment of all property in a municipality to reflect current market values. Connecticut towns revalue on cycles ranging … Due Diligence Period A negotiated window after offer acceptance during which the buyer inspects the property, reviews title, and secures financing. Common in … Earnest Money Deposit A good-faith deposit submitted with an offer, held in escrow until closing. Amounts vary by price point and market competitiveness … connectMLS A Connecticut MLS platform used alongside SmartMLS in parts of the state. Market data reports may cite connectMLS for Hartford … Rent Control in Connecticut Connecticut does not have statewide rent control, but some municipalities have explored tenant protection ordinances. Landlords must follow notice requirements … Inland Wetlands Connecticut's Inland Wetlands and Watercourses Act requires permits for activity near wetlands. Wetlands setbacks frequently delay or reshape development projects.

Connecticut real estate terminology

From mill rates to 8-30g, Connecticut real estate has its own vocabulary. These definitions are written for buyers, sellers, and agents who want plain-language explanations without the jargon.

Disclaimer: These tools provide estimates for informational purposes only. They are not legal, tax, financial, or real estate advice. Confirm all figures with your town assessor, attorney, lender, or tax professional before making decisions. Rate data is synced from Connecticut Open Data (last sync May 30, 2026).

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