Tilton, New Hampshire Property Taxes
The median property tax rate in Tilton, NH is 1.61%, 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 Tilton, the typical annual property tax bill reaches $2,970, exceeding the national median of $2,690. Property taxes in Tilton 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 Tilton'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 Tilton 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
Tilton, 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 Tilton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tilton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tilton 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 Tilton, New Hampshire
Property taxes in Tilton, New Hampshire, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tilton is 1.61%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Tilton set these rates annually, and they can vary across different neighborhoods. Each year, Tilton 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 Tilton's effective property tax rate to other regions in New Hampshire and the national median. For comparison, the 03276 zip code 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 cities compare with Tilton 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 Tilton 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 Tilton, 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 Tilton, New Hampshire
In Tilton, 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 Tilton, 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 Tilton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 03276 has both the highest and lowest median tax bill at $2,970.
Property Tax Assessment Values Across Tilton, New Hampshire
Source: Ownwell
$180,762
$809,631
$1,438,500
Average Tilton Assessed Value
$184,700
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 Tilton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03276 | $30,020 | $109,400 | $184,700 | $257,750 | $347,780 |
Source: Ownwell
Property Tax Bills Across Tilton, New Hampshire
In Tilton, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value. The tax rate is set by local taxing authorities and is applied to the assessed value to calculate the annual tax bill. For instance, the median home price in Tilton is $184,700. Property tax bills can vary significantly, with the 25th percentile paying around $1,762 and the 75th percentile facing bills up to $4,148. Those in the 90th percentile pay as much as $5,592. This variation in tax bills can significantly impact homeowners, influencing affordability and long-term financial planning. Compared to the national median property tax rate of 0.99%, Tilton's property taxes can be relatively high, reflecting the local government's funding needs for public services and infrastructure. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average Tilton Tax Bill
$2,970
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 Tilton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03276 | $485 | $1,762 | $2,970 | $4,148 | $5,592 |
Source: Ownwell