Thornton, New Hampshire Property Taxes
The median property tax rate in Thornton, NH is 2.00%, 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 Thornton, the typical annual property tax bill reaches $4,070, exceeding the national median of $2,690. Property taxes in Thornton 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 Thornton'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 Thornton 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
Thornton, 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 Thornton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thornton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thornton 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 Thornton, New Hampshire
Property taxes in Thornton, New Hampshire, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thornton is 2.00%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Thornton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thornton 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 Thornton's effective property tax rate to other areas in New Hampshire and the national median. For comparison, the zip code 03223 has the highest median property tax rate of 2.00%, while the zip code 03285 has the lowest median tax rate of 2.00%. Understanding how these areas compare with Thornton 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 Thornton Tax Rate
2.00%
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 Thornton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03223 | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
| 03285 | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Thornton, New Hampshire
In Thornton, 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 Thornton, 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 Thornton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,083 in the 03285 zip code, while the lowest is $2,698 in the 03223 zip code.
Average Thornton Assessed Value
$203,400
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 Thornton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03223 | $64,000 | $93,900 | $134,800 | $271,050 | $338,000 |
| 03285 | $107,050 | $144,400 | $204,050 | $270,625 | $353,150 |
Source: Ownwell
Property Tax Bills Across Thornton, New Hampshire
In Thornton, Grafton County, NH, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. Homeowners in Thornton experience a range of property tax bills, influenced by factors such as property size, location, and market conditions. The median home price in Thornton is $203,400, and property tax bills vary significantly across the area. For example, the tax bill at the 25th percentile is $2,885, while it reaches $5,416 at the 75th percentile and $7,068 at the 90th percentile. Comparing these figures to the national median property tax rate of 0.99%, it is evident that property taxes in Thornton can be relatively high. The highest median tax bill in the region is $4,083 in the 03285 zip code, while the lowest is $2,698 in the 03223 zip code. These variations in property tax bills can significantly impact homeowners' financial planning and budgeting.
Average Thornton Tax Bill
$4,070
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 Thornton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03223 | $1,280 | $1,879 | $2,698 | $5,424 | $6,764 |
| 03285 | $2,142 | $2,889 | $4,083 | $5,416 | $7,067 |
Source: Ownwell