Northfield, New Hampshire Property Taxes
The median property tax rate in Northfield, NH is 1.61%, significantly higher than both the national median of 0.99% and the New Hampshire state median of 1.91%. With a median home value of $290,100 in Northfield, the typical annual property tax bill reaches $4,662, far exceeding the national median of $2,690. Property taxes in Northfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Northfield'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 Northfield 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
Northfield, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$4,671
Ownwell’s Northfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Northfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Northfield 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 Northfield, New Hampshire
Property taxes in Northfield, New Hampshire, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Northfield is 1.61%, significantly higher than the U.S. national median of 0.99%. Local government entities within Northfield set these rates annually, and they can vary across different neighborhoods. Each year, Northfield 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 Northfield's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the zip code 03276 has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these rates compare with Northfield 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 Northfield Tax Rate
1.61%
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 Northfield, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03276 | 1.61% | 1.61% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Northfield, New Hampshire
In Northfield, 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 Northfield, 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 Northfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Northfield is $290,100, with the highest and lowest median tax bills both at $4,662 in the 03276 zip code.
Property Tax Assessment Values Across Northfield, New Hampshire
Source: Ownwell
$180,762
$809,631
$1,438,500
Average Northfield Assessed Value
$290,100
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 Northfield, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03276 | $290,100 | $290,100 | $290,100 | $290,100 | $290,100 |
Source: Ownwell
Property Tax Bills Across Northfield, New Hampshire
In Northfield, NH, located in Belknap County, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Northfield is $290,100, which serves as a key factor in determining the tax bill. Homeowners in Northfield face a median property tax bill of $4,662, which is significantly higher than the national median property tax rate of 0.99%. This high tax bill reflects the local tax rate and the assessed value of properties in the area. The tax bill remains consistent across various percentiles, with homeowners at the 25th, 75th, and 90th percentiles all facing a tax bill of $4,662. This consistency indicates a relatively stable property tax structure within the city. For homeowners, this means that property taxes are a significant annual expense, impacting their overall financial planning. Understanding how these taxes are calculated can help residents anticipate their yearly obligations and manage their budgets more effectively.
Average Northfield Tax Bill
$4,662
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 Northfield, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03276 | $4,662 | $4,662 | $4,662 | $4,662 | $4,662 |
Source: Ownwell