Lebanon, New Hampshire Property Taxes
The median property tax rate in Lebanon, NH is 2.30%, 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 Lebanon at $302,000, the typical annual property tax bill reaches $6,963, exceeding the national median of $2,690. Property taxes in Lebanon 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 Lebanon'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 Lebanon 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
Lebanon, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$6,946
Ownwell’s Lebanon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lebanon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lebanon 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 Lebanon, New Hampshire
Property taxes in Lebanon, New Hampshire, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lebanon is 2.30%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Lebanon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lebanon 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 Lebanon's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03766 zip code has the highest median property tax rate of 2.30%, while the same zip code also has the lowest median tax rate of 2.30%. Understanding how these cities compare with Lebanon 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 Lebanon Tax Rate
2.30%
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 Lebanon, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03766 | 2.30% | 2.30% | 2.30% | 2.30% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, New Hampshire
In Lebanon, 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 Lebanon, 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 Lebanon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in the 03766 zip code, amounting to $6,963.
Average Lebanon Assessed Value
$302,000
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 Lebanon, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03766 | $105,100 | $215,700 | $302,000 | $390,400 | $506,100 |
Source: Ownwell
Property Tax Bills Across Lebanon, New Hampshire
In Lebanon, NH, property tax bills are calculated based on the assessed value of a homeowner's property. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's market value, any improvements made, and the overall tax rate set by local authorities. For instance, in Lebanon, the median home price stands at $302,000, with property tax bills ranging significantly. Homeowners in the 25th percentile can expect a tax bill of approximately $4,970, while those in the 75th percentile may see bills around $8,998. The top 10% of tax bills can reach up to $11,663. Comparatively, Lebanon's property tax rates are higher than the national median property tax rate of 0.99%, which can impact homeowners by increasing their annual housing costs. This variation in tax bills highlights the importance of understanding local property tax policies and their effects on personal finances.
Average Lebanon Tax Bill
$6,963
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 Lebanon, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03766 | $2,422 | $4,970 | $6,963 | $8,998 | $11,663 |
Source: Ownwell