Hooksett, New Hampshire Property Taxes
The median property tax rate in Hooksett, 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 Hooksett at $260,400, the typical annual property tax bill reaches $6,263, exceeding the national median of $2,690. Property taxes in Hooksett 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 Hooksett'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 Hooksett 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
Hooksett, 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 Hooksett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hooksett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hooksett 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 Hooksett, New Hampshire
Property taxes in Hooksett, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hooksett is 2.41%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Hooksett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hooksett 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 Hooksett's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03106 zip code has the highest median property tax rate of 2.41%, while the same 03106 zip code also has the lowest median tax rate of 2.41%. Understanding how these cities compare with Hooksett 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 Hooksett 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 Hooksett, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03106 | 2.40% | 2.40% | 2.41% | 2.41% | 2.41% |
Source: Ownwell
Property Tax Assessment Values Across Hooksett, New Hampshire
In Hooksett, 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 local authorities 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 Hooksett, 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 Hooksett is $260,400, with tax bills ranging from $4,716 at the 25th percentile to $9,952 at the 90th percentile. Notably, the zip code 03106 has the highest and lowest median tax bill of $6,263. By understanding 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 Hooksett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hooksett Assessed Value
$260,400
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 Hooksett, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03106 | $124,800 | $196,000 | $260,400 | $341,700 | $413,800 |
Source: Ownwell
Property Tax Bills Across Hooksett, New Hampshire
In Hooksett, Merrimack County, NH, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town's assessor and reflects the property's market value. Hooksett's median home price is $260,400, which serves as a benchmark for determining tax bills. The tax rate is applied to the assessed value to calculate the annual tax bill. For example, homeowners in the 25th percentile can expect a tax bill of around $4,716, while those in the 75th percentile may face a bill of $8,218. The 90th percentile sees tax bills as high as $9,952. Notably, the highest and lowest median tax bill in Hooksett both stand at $6,263, indicating a consistent tax rate across the area. This system ensures that property taxes are proportional to property values, which directly impacts homeowners by influencing their annual financial obligations. Comparing this to the national median property tax rate of 0.99%, Hooksett's rates highlight the importance of understanding local property tax dynamics.
Average Hooksett Tax Bill
$6,263
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 Hooksett, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03106 | $3,001 | $4,716 | $6,263 | $8,218 | $9,952 |
Source: Ownwell