Connecticut Real Estate Tools

CT Real Estate Glossary

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

Fair Market Value

The price a willing buyer and seller would agree upon in an open market. Assessors use fair market value as the basis for determining assessed value in Connecticut.

Example: After a revaluation, assessed values are adjusted to reflect current fair market value.

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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