Hancock, New Hampshire Property Taxes
The median property tax rate in Hancock, NH is 2.18%, 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 Hancock, the typical annual property tax bill reaches $6,242, far exceeding the national median of $2,690. Property taxes in Hancock 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 Hancock'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 Hancock 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
Hancock, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.18%
Estimate Property Tax Bill
$6,236
Ownwell’s Hancock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hancock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hancock 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 Hancock, New Hampshire
Property taxes in Hancock, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hancock is 2.18%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hancock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hancock 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 Hancock's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03449 zip code has the highest median property tax rate of 2.18%, while the lowest median tax rate is also 2.18%. Understanding how these cities compare with Hancock provides valuable insights into the varying tax landscape across Hillsborough County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hancock Tax Rate
2.18%
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 Hancock, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03449 | 2.18% | 2.18% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Hancock, New Hampshire
In Hancock, 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. 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. The median home price in Hancock is $286,050, with the 25th percentile tax bill at $4,846 and the 75th percentile tax bill at $8,204. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hancock, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Hancock Assessed Value
$286,050
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 Hancock, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03449 | $157,170 | $221,325 | $286,050 | $375,224 | $514,784 |
Source: Ownwell
Property Tax Bills Across Hancock, New Hampshire
In Hancock, NH, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town's assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Hancock face varying tax bills depending on their property's assessed value. The median home price in Hancock is $286,050, with tax bills at the 25th percentile being around $4,846 and those at the 75th percentile reaching approximately $8,204. The highest median tax bill recorded in the area is $6,242, which is significantly higher than the national median property tax rate of 0.99%. These property taxes fund essential local services like schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners must budget for these taxes, as they represent a substantial annual expense.
Average Hancock Tax Bill
$6,242
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 Hancock, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03449 | $3,529 | $4,846 | $6,242 | $8,204 | $11,252 |
Source: Ownwell