Tilton, New Hampshire Property Taxes
The median property tax rate in Tilton, NH is 1.45%, 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 Tilton at $268,500, the typical annual property tax bill reaches $4,150, exceeding the national median of $2,690. Property taxes in Tilton are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tilton'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 Tilton 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
Tilton, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$3,893
Ownwell’s Tilton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tilton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tilton 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 Tilton, New Hampshire
Property taxes in Tilton, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tilton is 1.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Tilton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tilton 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 Tilton's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the zip code 03276 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 cities compare with Tilton 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 Tilton 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 Tilton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03276 | 1.45% | 1.45% | 1.45% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Tilton, New Hampshire
In Tilton, 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 Tilton, 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 Tilton is $268,500, with tax bills ranging from $3,181 at the 25th percentile to $5,306 at the 90th percentile. The highest and lowest median tax bills, both at $4,150, are found in the 03276 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 Tilton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tilton Assessed Value
$268,500
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 Tilton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03276 | $19,294 | $188,500 | $268,500 | $312,000 | $358,340 |
Source: Ownwell
Property Tax Bills Across Tilton, New Hampshire
In Tilton, NH, located in Merrimack County, property tax bills are calculated based on the assessed value of a property and the local tax rate. The process begins with the local government assessing the market value of a home. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For instance, the median home price in Tilton is $268,500, which significantly impacts the tax calculation. Homeowners in Tilton experience a range of tax bills, with the 25th percentile paying around $3,181, while those in the 75th percentile face approximately $4,564. The highest median tax bill recorded is $4,150, reflecting the variability in property values and tax rates within the area. These tax bills can have a substantial impact on homeowners, affecting their annual budgets and financial planning. With the national median property tax rate at 0.99%, Tilton's property tax rates and bills underscore the unique financial landscape for its residents.
Average Tilton Tax Bill
$4,150
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 Tilton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03276 | $1,508 | $3,181 | $4,150 | $4,564 | $5,306 |
Source: Ownwell