Belmont, New Hampshire Property Taxes
The median property tax rate in Belmont, NH is 1.45%, which is higher than both the national median of 0.99% and the New Hampshire state median of 1.91%. With a median home value of $322,100 in Belmont, the typical annual property tax bill reaches $4,687, significantly surpassing the national median of $2,690. Property taxes in Belmont are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural land. Understanding Belmont'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 Belmont or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Belmont, 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 Belmont Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Belmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belmont to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those 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 Belmont, New Hampshire
Property taxes in Belmont, 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 Belmont is 1.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Belmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belmont 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 Belmont's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the zip code 03220 has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these areas compare with Belmont provides valuable insights into the varying tax landscape across Merrimack County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belmont Tax Rate
1.45%
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 Belmont, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03220 | 1.45% | 1.45% | 1.45% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Belmont, New Hampshire
In Belmont, 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 Belmont, 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 Belmont is $322,100, with tax bills ranging from $3,965 at the 25th percentile to $5,647 at the 90th percentile. 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 Belmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Belmont Assessed Value
$322,100
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 Belmont, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03220 | $151,780 | $272,500 | $322,100 | $363,300 | $388,124 |
Source: Ownwell
Property Tax Bills Across Belmont, New Hampshire
In Belmont, Merrimack 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 town's assessor and reflects the market value of the property. Belmont's property tax rate is higher than the national median of 0.99%, leading to substantial tax bills for homeowners. For instance, with a median home price of $322,100, homeowners can expect to pay a significant amount in property taxes annually. The tax bill for the 25th percentile is around $3,965, while those in the 75th percentile see bills of approximately $5,286. At the 90th percentile, tax bills can reach up to $5,647. These figures illustrate the financial impact on homeowners, which can vary widely depending on the property's assessed value and the tax rate applied. Understanding these factors is crucial for homeowners in Belmont as property taxes represent a significant portion of annual expenses, influencing both budgeting and long-term financial planning.
Average Belmont Tax Bill
$4,687
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 Belmont, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03220 | $2,208 | $3,965 | $4,687 | $5,286 | $5,647 |
Source: Ownwell