Newton, New Hampshire Property Taxes
The median property tax rate in Newton, NH is 2.25%, 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 Newton at $335,300, the typical annual property tax bill reaches $7,541, exceeding the national median of $2,690. Property taxes in Newton 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 Newton'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 Newton 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
Newton, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$7,544
Ownwell’s Newton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton 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 Newton, New Hampshire
Property taxes in Newton, New Hampshire, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Newton is 2.25%, significantly higher than the U.S. national median of 0.99%. Local government entities in Newton set these rates annually, and they can vary across different neighborhoods. Each year, Newton 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 Newton's effective property tax rate to other areas in Rockingham County and the national median. For comparison, the zip code 03858 has the highest median property tax rate of 2.25%, while the same zip code also has the lowest median tax rate of 2.25%. Understanding how these areas compare with Newton provides valuable insights into the varying tax landscape across Rockingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newton Tax Rate
2.25%
Average Rockingham County Tax Rate
1.90%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03858 | 2.25% | 2.25% | 2.25% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Newton, New Hampshire
In Newton, 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 Rockingham 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 Newton, 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 Newton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 03858 has both the highest and lowest median tax bill at $7,541.
Property Tax Assessment Values Across Newton, New Hampshire
Source: Ownwell
$275,100
$1,110,250
$1,945,400
Average Newton Assessed Value
$335,300
Average Rockingham County Assessed Value
$373,900
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03858 | $234,380 | $283,850 | $335,300 | $385,150 | $453,590 |
Source: Ownwell
Property Tax Bills Across Newton, New Hampshire
In Newton, 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 local assessor's office and reflects the market value of the property. For homeowners in Newton, the median home price is $335,300. The local tax rate is applied to this assessed value to calculate the annual property tax bill. Several factors influence the assessed value, including the size of the property, location, and any improvements or renovations made. In Newton, property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $6,386 annually, while those in the 75th percentile face bills of approximately $8,663. The 90th percentile sees even higher bills, reaching up to $10,202. These property taxes fund essential community services such as schools, public safety, and infrastructure. Homeowners in Newton should be aware of these factors, as they directly impact their annual financial obligations and the value of their investment.
Average Newton Tax Bill
$7,541
Average Rockingham County Tax Bill
$6,989
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Newton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03858 | $5,270 | $6,386 | $7,541 | $8,663 | $10,202 |
Source: Ownwell