Falls Village is a village and census-designated place in the town of Canaan in Litchfield County, Connecticut. It is considered to be the second smallest town in Connecticut. Because Falls Village is the town center and principal constituent village in Canaan, the entire town is often referred to as "Falls Village." That usage also avoids confusion of the town with Canaan Village in the town of North Canaan, Connecticut, not far away. Falls Village derives its name from a waterfall, known as Great Falls, which is formed along the Housatonic River within the village.
The Falls Village post office is assigned zip code 06031, which encompasses the entire town of Canaan.
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How did Connecticut earn the grade of D? We examined the state taxes based on how age friendly they are. Connecticut has a state sales tax of 6.35%. Of particular interest is that Connecticut does have taxes on social security. There are estate taxes. There are no taxes imposed on inheritance. Connecticut has an effective property tax rate of 2.02%. Weighing these taxes and other taxes most likely to impact the aging population is how Connecticut earned its state tax grade of D.
Learn more about taxes in Connecticut