Bedford, New Hampshire Property Taxes
The median property tax rate in Bedford, NH is 2.41%, 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 Bedford, the typical annual property tax bill reaches $241, exceeding the national median of $2,690. Property taxes in Bedford 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 Bedford'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 Bedford 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
Bedford, 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 Bedford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bedford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bedford 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 Bedford, New Hampshire
Property taxes in Bedford, 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 Bedford is 2.41%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bedford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bedford 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 Bedford's effective property tax rate to other areas in New Hampshire and the national median. For comparison, the highest and lowest median property tax rates in Bedford are both 2.41%, indicating uniformity within the city. Understanding how Bedford's rates compare with other areas in Merrimack County 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 Bedford Tax Rate
2.41%
Average Merrimack County Tax Rate
2.44%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bedford, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03110 | 2.41% | 2.41% | 2.41% | 2.41% | 2.41% |
Source: Ownwell
Property Tax Assessment Values Across Bedford, New Hampshire
In Bedford, 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 Merrimack 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 Bedford, 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 Bedford is $10,000, with tax bills ranging from $241 at the 25th percentile to $241 at the 90th percentile. The highest and lowest median tax bills are both $241 in the 03110 zip code. 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 Bedford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bedford Assessed Value
$10,000
Average Merrimack County Assessed Value
$264,400
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bedford, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03110 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |
Source: Ownwell
Property Tax Bills Across Bedford, New Hampshire
In Bedford, located in Merrimack County, NH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and reflects the market value of the property. This value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. For homeowners in Bedford, the median home price is $10,000, and the resulting tax bill is notably consistent across different percentiles, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $241. This uniformity indicates a stable and predictable tax environment for residents. Compared to the national median property tax rate of 0.99%, Bedford's tax rate is relatively low, making it an attractive place for homeowners. This predictable and affordable tax bill can significantly affect homeowners by providing financial stability and potentially increasing the appeal of owning property in this area.
Average Bedford Tax Bill
$241
Average Merrimack County Tax Bill
$6,194
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Bedford, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03110 | $241 | $241 | $241 | $241 | $241 |
Source: Ownwell