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Connecticut is a state in the south of America’s region of New England that holds many different unique aspects. Sometimes it is considered a commuter state, with much of the state being in close proximity to New York City. It also has a storied and celebrated maritime history. Country clubs, as well as urban sprawls, are both in abundance in Connecticut.
The capital city, Hartford, is known as ‘The Insurance Capital of the World,’ and for good reason; it is home to campuses of companies like CIGNA, located in the Hartford metro area. UConn’s law school branch, the University of Connecticut School of Law, also resides in Hartford. The southern coast of the state has more industrial areas compared to the north, which is populated by more rural and suburban locations.
Along with its various moderately large cities, Connecticut has a wealth of natural wonders. This is made furtherly impressive due to the fact that Connecticut is the third smallest state behind Delaware and Rhode Island. Scenic lookouts like the Connecticut River, from which the state adopted its name, Candlewood Lake, Mount Frissell, and the Lake McDonough reservoir are impressive natural features dotting Connecticut’s landscape.
Travelers and commuters can easily make their way south to the New York state line by way of the Merritt Parkway, a popular freeway used in the south of the state.
Housing in Connecticut
The median home value of a home in Connecticut is ~$256,000, with home values increase over the past year by 1.2%, and forecasted to increase further by 3.7%. The median rent price in Connecticut is ~$1,800. Many white and blue-collar workers live in the southern region of the state due to New York’s often exorbitant rent prices. Dealing with a commute can be preferable than paying thousands more in real estate. Residents could easily find themselves paying over $400,000 more for a place to live in New York City.
Taxes in Connecticut
Property taxes in Connecticut are well over the national property tax rate, with Hartford County charging 2.216%. Connecticut has the second-highest tax rate in the country, only beaten by Illinois. Based on the median home value, a resident of Connecticut could find themselves paying ~$5,673 annually.
The Connecticut sales tax rate is 6.35%, with cities not paying sales taxes.