Epsom, New Hampshire Property Taxes
The median property tax rate in Epsom, NH is 2.38%, 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 Epsom at $237,050, the typical annual property tax bill reaches $5,651, exceeding the national median of $2,690. Property taxes in Epsom 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 Epsom'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 Epsom 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
Epsom, 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 Epsom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Epsom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Epsom 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 Epsom, New Hampshire
Property taxes in Epsom, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Epsom is 2.38%, significantly higher than the U.S. national median of 0.99%. Local government entities within Epsom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Epsom 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 Epsom's effective property tax rate to other areas in Merrimack County and the national median. For comparison, the zip code 03234 has both the highest and lowest median property tax rate of 2.38%. Understanding how these areas compare with Epsom 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 Epsom Tax Rate
2.38%
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 Epsom, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03234 | 2.38% | 2.38% | 2.38% | 2.38% | 2.38% |
Source: Ownwell
Property Tax Assessment Values Across Epsom, New Hampshire
In Epsom, 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 Epsom, 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 Epsom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Epsom are both $5,651, found in the 03234 zip code.
Average Epsom Assessed Value
$237,050
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 Epsom, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03234 | $33,900 | $147,300 | $237,050 | $292,867 | $350,500 |
Source: Ownwell
Property Tax Bills Across Epsom, New Hampshire
In Epsom, Merrimack County, NH, property tax bills are a significant consideration for homeowners. The tax bill is determined by multiplying the assessed value of the property by the local tax rate. Factors that influence the assessed value include the property's market value, location, and any improvements or renovations made. In Epsom, the median home price is $237,050, and property taxes can vary widely. For instance, homeowners in the 25th percentile pay around $3,512, while those in the 75th percentile face bills of approximately $6,982. At the 90th percentile, the tax bill can reach up to $8,356. The highest and lowest median tax bills in the area are both $5,651, indicating a relatively consistent tax rate across different parts of the city. Given that the national median property tax rate is 0.99%, homeowners in Epsom may find their tax bills significantly higher, impacting their overall cost of living and financial planning.
Average Epsom Tax Bill
$5,651
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 Epsom, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03234 | $808 | $3,512 | $5,651 | $6,982 | $8,356 |
Source: Ownwell