Peterborough, New Hampshire Property Taxes
The median property tax rate in Peterborough, NH is 2.59%, 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 Peterborough at $293,200, the typical annual property tax bill reaches $7,578, exceeding the national median of $2,690. Property taxes in Peterborough 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 Peterborough'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 Peterborough 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
Peterborough, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.59%
Estimate Property Tax Bill
$7,594
Ownwell’s Peterborough Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peterborough with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peterborough 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 Peterborough, New Hampshire
Property taxes in Peterborough, New Hampshire, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peterborough is 2.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Peterborough set these rates annually, and they can vary across different neighborhoods. Each year, Peterborough 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 Peterborough's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03458 zip code has the highest median property tax rate of 2.59%, while the same zip code also has the lowest median tax rate of 2.59%. Understanding how these cities compare with Peterborough 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 Peterborough Tax Rate
2.59%
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 Peterborough, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03458 | 2.59% | 2.59% | 2.59% | 2.59% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Peterborough, New Hampshire
In Peterborough, 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 in Peterborough 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 Peterborough helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Peterborough is $293,200, with the highest and lowest median tax bills both at $7,578 in zip code 03458.
Property Tax Assessment Values Across Peterborough, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Peterborough Assessed Value
$293,200
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 Peterborough, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03458 | $200,000 | $234,200 | $293,200 | $369,250 | $460,244 |
Source: Ownwell
Property Tax Bills Across Peterborough, New Hampshire
Property tax bills in Peterborough, Hillsborough County, NH, are calculated based on the assessed value of a property and the local tax rate. The tax rate is applied to the assessed value to determine the annual tax bill. Factors influencing the assessed value include the property's market value, location, and any improvements or renovations made. For instance, with a median home price of $293,200, homeowners can expect varying tax bills. The 25th percentile tax bill is approximately $6,056, while the 75th percentile reaches around $9,542. At the 90th percentile, homeowners might see tax bills as high as $11,902. Compared to the national median property tax rate of 0.99%, Peterborough's property taxes can be significantly higher. This can impact homeowners by increasing their annual expenses, potentially affecting their budgeting and financial planning. Understanding these factors is crucial for homeowners when purchasing property or planning for future expenses.
Average Peterborough Tax Bill
$7,578
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 Peterborough, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03458 | $5,172 | $6,056 | $7,578 | $9,542 | $11,902 |
Source: Ownwell