Gilmanton, New Hampshire Property Taxes
The median property tax rate in Gilmanton, NH is 2.40%, considerably higher than both the national median of 0.99% and the New Hampshire state median of 1.91%. With the median home value in Gilmanton, the typical annual property tax bill reaches $5,323, exceeding the national median of $2,690. Property taxes in Gilmanton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gilmanton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gilmanton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gilmanton, New Hampshire Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$3,820
Ownwell’s Gilmanton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilmanton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilmanton to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gilmanton, New Hampshire
Property taxes in Gilmanton, New Hampshire, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilmanton is 2.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Gilmanton set these rates annually, and they can vary across different neighborhoods. Each year, Gilmanton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Gilmanton's effective property tax rate to other areas in New Hampshire and the national median. For comparison, the zip code 03237 has the highest median property tax rate of 2.40%, which is also the lowest median tax rate in the area. Understanding how these rates compare with Gilmanton provides valuable insights into the varying tax landscape across Belknap County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilmanton Tax Rate
2.40%
Average Belknap County Tax Rate
1.48%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilmanton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03237 | 2.40% | 2.40% | 2.40% | 2.40% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Gilmanton, New Hampshire
In Gilmanton, New Hampshire, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Belknap County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Gilmanton, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Gilmanton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 03237 has both the highest and lowest median tax bill, which stands at $5,323.
Property Tax Assessment Values Across Gilmanton, New Hampshire
Source: Ownwell
$180,762
$809,631
$1,438,500
Average Gilmanton Assessed Value
$222,053
Average Belknap County Assessed Value
$267,900
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilmanton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03237 | $115,160 | $164,500 | $222,053 | $279,350 | $358,778 |
Source: Ownwell
Property Tax Bills Across Gilmanton, New Hampshire
In Gilmanton, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by local assessors who evaluate various factors, including the property's size, location, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Gilmanton, the tax bills can vary significantly. The 25th percentile tax bill is around $3,943, while the 75th percentile reaches $6,696. At the 90th percentile, homeowners could be paying as much as $8,600. The median home price in Gilmanton stands at $222,053, which is a key factor in these calculations. Compared to the national median property tax rate of 0.99%, Gilmanton's tax bills are relatively high, reflecting the local tax rate and property values. This can have a notable impact on homeowners, influencing their overall cost of living and financial planning.
Average Gilmanton Tax Bill
$5,323
Average Belknap County Tax Bill
$4,251
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilmanton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03237 | $2,760 | $3,943 | $5,323 | $6,696 | $8,600 |
Source: Ownwell