Groton, New Hampshire Property Taxes
The median property tax rate in Groton, NH is 1.00%, slightly higher than the national median of 0.99% but significantly lower than the New Hampshire state median of 1.91%. With the median home value in Groton at $68,590, the typical annual property tax bill amounts to $686, which is well below the national median of $2,690. Property taxes in Groton are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Groton'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 Groton or another part of Grafton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Groton, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$686
Ownwell’s Groton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Groton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Groton 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 Groton, New Hampshire
Property taxes in Groton, 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 Groton is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Groton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Groton 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 Groton's effective property tax rate to other areas in New Hampshire and the national median. For comparison, the zip code 03241 has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Groton provides valuable insights into the varying tax landscape across Grafton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Groton Tax Rate
1.00%
Average Grafton County Tax Rate
2.30%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Groton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03241 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Groton, New Hampshire
In Groton, 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 Grafton 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 Groton, 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 Groton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 03241, with a median tax bill of $686.
Average Groton Assessed Value
$68,590
Average Grafton County Assessed Value
$210,700
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Groton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03241 | $48,958 | $51,453 | $68,590 | $642,885 | $1,438,918 |
Source: Ownwell
Property Tax Bills Across Groton, New Hampshire
In Groton, 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 and reflects the market value of the property. Homeowners in Groton, located in Grafton County, experience varying tax bills depending on their property's value. The median home price in Groton is $68,590, which serves as a baseline for calculating taxes. For instance, tax bills in the 25th percentile are around $514, while those in the 75th percentile can reach up to $6,429. At the higher end, the 90th percentile sees tax bills as high as $14,389. The highest and lowest median tax bills in the area are both $686, found in the 03241 zip code. These property taxes significantly impact homeowners by influencing their annual financial obligations and potentially affecting the affordability of homeownership. Compared to the national median property tax rate of 0.99%, Groton's property tax rates reflect the local economic conditions and funding needs for public services.
Average Groton Tax Bill
$686
Average Grafton County Tax Bill
$4,270
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Groton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03241 | $490 | $514 | $686 | $6,429 | $14,389 |
Source: Ownwell