Goffstown, New Hampshire Property Taxes
The median property tax rate in Goffstown, NH is 1.89%, 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 Goffstown at $405,400, the typical annual property tax bill reaches $7,646, significantly exceeding the national median of $2,690. Property taxes in Goffstown 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 Goffstown'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 Goffstown 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
Goffstown, 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 Goffstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goffstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goffstown 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 Goffstown, New Hampshire
Property taxes in Goffstown, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goffstown is 1.89%, significantly higher than the U.S. national median of 0.99%. Local government entities within Goffstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goffstown 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. Understanding how Goffstown's effective property tax rate compares to other areas in Hillsborough County and the national median provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goffstown Tax Rate
1.89%
Average Hillsborough County Tax Rate
1.89%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goffstown, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03045 | 1.89% | 1.89% | 1.89% | 1.89% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Goffstown, New Hampshire
In Goffstown, 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 Hillsborough 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 Goffstown, 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 Goffstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Goffstown are both $7,646, found in the zip code 03045.
Property Tax Assessment Values Across Goffstown, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Goffstown Assessed Value
$405,400
Average Hillsborough County Assessed Value
$355,600
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goffstown, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03045 | $210,700 | $320,625 | $405,400 | $504,575 | $597,300 |
Source: Ownwell
Property Tax Bills Across Goffstown, New Hampshire
In Goffstown, Hillsborough County, NH, 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 and reflects the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the tax bill. For example, with a median home price of $405,400, homeowners in Goffstown can expect their property tax bills to vary. The 25th percentile tax bill is around $6,051, while those in the 75th percentile pay approximately $9,522. Homeowners in the 90th percentile face tax bills up to $11,265. The highest median tax bill in the area is $7,646, which is significantly higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners must consider these taxes as a crucial factor in their overall housing costs.
Average Goffstown Tax Bill
$7,646
Average Hillsborough County Tax Bill
$6,748
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Goffstown, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03045 | $3,974 | $6,051 | $7,646 | $9,522 | $11,265 |
Source: Ownwell