Hillsborough, New Hampshire Property Taxes
The median property tax rate in Hillsborough, NH is 2.11%, 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 Hillsborough at $157,318, the typical annual property tax bill reaches $3,318, exceeding the national median of $2,690. Property taxes in Hillsborough 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 Hillsborough'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 Hillsborough 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
Hillsborough, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$3,319
Ownwell’s Hillsborough Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hillsborough with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsborough to project your property tax bill. This intuitive tool provides a clear understanding of potential tax liabilities, aiding in better financial planning. For those interested in more detailed trends at the neighborhood level, further localized information is available. Your property’s assessed value, determined by the county for tax purposes, reflects any applicable exemptions.
Property Tax Rates Across Hillsborough, New Hampshire
Property taxes in Hillsborough, New Hampshire, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsborough is 2.11%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Hillsborough set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsborough 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 Hillsborough's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03244 zip code has the highest median property tax rate of 2.11%, while the 03244 zip code also has the lowest median tax rate of 2.11%. Understanding how these cities compare with Hillsborough provides valuable insights into the varying tax landscape across Sullivan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsborough Tax Rate
2.11%
Average Sullivan County Tax Rate
2.36%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsborough, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03244 | 2.11% | 2.11% | 2.11% | 2.11% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Hillsborough, New Hampshire
In Hillsborough, 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 Sullivan 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 Hillsborough, 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 Hillsborough helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 03244 at $3,318, which is above the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Hillsborough, New Hampshire
Source: Ownwell
$53,778
$228,739
$403,700
Average Hillsborough Assessed Value
$157,318
Average Sullivan County Assessed Value
$185,800
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsborough, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03244 | $60,641 | $97,275 | $157,318 | $224,300 | $268,440 |
Source: Ownwell
Property Tax Bills Across Hillsborough, New Hampshire
Property tax bills in Hillsborough, NH, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the city's tax assessor, who evaluates the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. In Hillsborough, the median home price is $157,318, which influences the overall tax burden for homeowners. Tax bills can vary significantly, with the 25th percentile tax bill at $2,052 and the 75th percentile reaching $4,730. At the 90th percentile, homeowners can expect to pay around $5,662. These figures highlight the range of tax liabilities that residents may face, depending on their property's assessed value. For comparison, the national median property tax rate is 0.99%, making Hillsborough's rates relatively competitive. Homeowners in Hillsborough should be aware of these factors, as they directly impact their annual financial obligations. Understanding how property tax bills are calculated can help residents plan their budgets more effectively and consider potential appeals or exemptions if they believe their property has been over-assessed.
Average Hillsborough Tax Bill
$3,318
Average Sullivan County Tax Bill
$4,808
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsborough, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03244 | $1,279 | $2,052 | $3,318 | $4,730 | $5,662 |
Source: Ownwell