Mason, New Hampshire Property Taxes
The median property tax rate in Mason, NH is 2.37%, 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 Mason, the typical annual property tax bill reaches $7,520, exceeding the national median of $2,690. Property taxes in Mason 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 Mason'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 Mason 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
Mason, 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 Mason Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mason with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mason 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 Mason, New Hampshire
Property taxes in Mason, 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 Mason is 2.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mason set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mason 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 Mason's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the zip code 03048 has the highest median property tax rate of 2.37%, while the same zip code also has the lowest median tax rate of 2.37%. Understanding how these cities compare with Mason 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 Mason Tax Rate
2.37%
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 Mason, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03048 | 2.37% | 2.37% | 2.37% | 2.37% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Mason, New Hampshire
In Mason, 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 Mason, 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 Mason helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Mason are both found in the 03048 zip code, with a value of $7,520. This is significantly higher than the national median property tax rate of 0.99%, reflecting the area's unique property tax landscape.
Property Tax Assessment Values Across Mason, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Mason Assessed Value
$317,050
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 Mason, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03048 | $217,690 | $260,875 | $317,050 | $379,834 | $464,000 |
Source: Ownwell
Property Tax Bills Across Mason, New Hampshire
In Mason, Hillsborough County, NH, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to determine the annual property tax bill. For instance, the median home price in Mason is $317,050, and the tax rate is applied to this amount to calculate the tax bill. Factors such as property size, location, and improvements can influence the assessed value, and therefore, the tax bill. Homeowners in Mason can expect tax bills ranging significantly, with the 25th percentile at $6,188 and the 75th percentile at $9,009. The highest median tax bill in the area is $7,520, which is notably higher than the national median property tax rate of 0.99%. This higher tax burden can impact homeowners by increasing their annual expenses, making it essential for them to understand and potentially appeal their property assessments to ensure fair taxation.
Average Mason Tax Bill
$7,520
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 Mason, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03048 | $5,193 | $6,188 | $7,520 | $9,009 | $11,006 |
Source: Ownwell