Contoocook, New Hampshire Property Taxes
The median property tax rate in Contoocook, NH is 3.23%, 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 Contoocook at $290,100, the typical annual property tax bill reaches $9,564, far exceeding the national median of $2,690. Property taxes in Contoocook 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 Contoocook'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 Contoocook 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
Contoocook, 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 Contoocook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Contoocook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Contoocook 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 Contoocook, New Hampshire
Property taxes in Contoocook, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Contoocook is 3.23%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Contoocook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Contoocook 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 Contoocook's effective property tax rate to other areas in Merrimack County and the national median. For comparison, the 03229 zip code has both the highest and lowest median property tax rate of 3.23%. Understanding how these figures compare with Contoocook 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 Contoocook Tax Rate
3.23%
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 Contoocook, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03229 | 3.22% | 3.22% | 3.23% | 3.26% | 3.39% |
Source: Ownwell
Property Tax Assessment Values Across Contoocook, New Hampshire
In Contoocook, 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 Contoocook, 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 Contoocook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills are both $9,564 in the 03229 zip code, reflecting the specific property values in this area.
Property Tax Assessment Values Across Contoocook, New Hampshire
Source: Ownwell
$10,000
$280,850
$551,700
Average Contoocook Assessed Value
$290,100
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 Contoocook, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03229 | $139,050 | $225,003 | $290,100 | $375,625 | $479,460 |
Source: Ownwell
Property Tax Bills Across Contoocook, New Hampshire
In Contoocook, Merrimack County, NH, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the town's assessor and represents the market value of the property. Factors such as property size, location, and home improvements are considered during the assessment process. Homeowners in Contoocook experience varying tax bills depending on their property's assessed value and the local tax rate. For instance, the median home price in Contoocook is $290,100. Homeowners at the 25th percentile pay around $7,470 in property taxes, while those at the 75th percentile face bills of approximately $12,250. At the 90th percentile, property taxes can reach up to $15,535. These figures highlight the financial impact of property taxes on homeowners in the area. Compared to the national median property tax rate of 0.99%, Contoocook's property taxes can be significantly higher, affecting the overall affordability and cost of living for residents.
Average Contoocook Tax Bill
$9,564
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 Contoocook, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03229 | $4,747 | $7,470 | $9,564 | $12,250 | $15,535 |
Source: Ownwell