Tamworth, New Hampshire Property Taxes
The median property tax rate in Tamworth, NH is 2.38%, 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 Tamworth, the typical annual property tax bill reaches $4,131, exceeding the national median of $2,690. Property taxes in Tamworth 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 Tamworth'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 Tamworth 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
Tamworth, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.38%
Estimate Property Tax Bill
$4,196
Ownwell’s Tamworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tamworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tamworth 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 Tamworth, New Hampshire
Property taxes in Tamworth, 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 Tamworth is 2.38%, significantly higher than the U.S. national median of 0.99%. Local government entities within Tamworth set these rates annually, and they can vary across different neighborhoods. Each year, Tamworth 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 Tamworth's effective property tax rate to other areas in Carroll County and the national median. For comparison, the zip code 03886 in Tamworth has the highest median property tax rate of 2.38%, while the same zip code also has the lowest median tax rate of 2.38%. Understanding how these rates compare with Tamworth provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tamworth Tax Rate
2.38%
Average Carroll County Tax Rate
1.32%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tamworth, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03886 | 2.38% | 2.38% | 2.38% | 2.38% | 2.38% |
Source: Ownwell
Property Tax Assessment Values Across Tamworth, New Hampshire
In Tamworth, 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 Carroll 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 Tamworth, 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 Tamworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tamworth is $176,300, with the highest median tax bill of $4,131 in the 03886 zip code.
Property Tax Assessment Values Across Tamworth, New Hampshire
Source: Ownwell
$127,800
$357,900
$588,000
Average Tamworth Assessed Value
$176,300
Average Carroll County Assessed Value
$256,900
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tamworth, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03886 | $57,800 | $124,300 | $176,300 | $228,100 | $305,755 |
Source: Ownwell
Property Tax Bills Across Tamworth, New Hampshire
In Tamworth, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, a home with a median price of $176,300 would have its tax bill calculated using this method. Several factors influence the final tax bill, including property size, location, and market conditions. Homeowners in Tamworth see a wide range of property tax bills, from the 25th percentile at $2,975 to the 90th percentile at $7,055. The median tax bill stands at $4,131, which is significantly higher than the national median property tax rate of 0.99%. These tax bills directly impact homeowners, affecting their annual budgeting and overall cost of homeownership. High property taxes can strain household finances, while also contributing to community services and infrastructure.
Average Tamworth Tax Bill
$4,131
Average Carroll County Tax Bill
$3,014
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Tamworth, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03886 | $1,417 | $2,975 | $4,131 | $5,364 | $7,055 |
Source: Ownwell