Newport, New Hampshire Property Taxes
The median property tax rate in Newport, NH is 2.09%, 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 Newport, the typical annual property tax bill reaches $4,703, exceeding the national median of $2,690. Property taxes in Newport 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 Newport'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 Newport 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
Newport, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$4,494
Ownwell’s Newport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newport 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 Newport, New Hampshire
Property taxes in Newport, New Hampshire, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Newport is 2.09%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Newport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newport 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 Newport's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03773 zip code has both the highest and lowest median property tax rate of 2.09%. Understanding how these areas compare with Newport 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 Newport Tax Rate
2.09%
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 Newport, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03773 | 2.09% | 2.09% | 2.09% | 2.09% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Newport, New Hampshire
In Newport, 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 Newport, 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. Notably, the median home price in Newport is $215,000, with tax bills ranging from $3,422 at the 25th percentile to $8,086 at the 90th percentile. The highest and lowest median tax bills are both $4,703 in the 03773 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 Newport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Newport Assessed Value
$215,000
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 Newport, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03773 | $99,340 | $158,148 | $215,000 | $286,700 | $372,390 |
Source: Ownwell
Property Tax Bills Across Newport, New Hampshire
In Newport, Sullivan County, NH, 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. Homeowners in Newport face a median property tax rate of 2.19%, significantly higher than the national median of 0.99%. This means that for a median home price of $215,000, homeowners can expect to pay around $4,703 annually in property taxes. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, tax bills in the 25th percentile are approximately $3,422, while those in the 75th percentile reach around $6,257. The 90th percentile sees tax bills as high as $8,086. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Consequently, understanding how property taxes are calculated can help homeowners better manage their finances and plan for future expenses.
Average Newport Tax Bill
$4,703
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 Newport, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03773 | $2,195 | $3,422 | $4,703 | $6,257 | $8,086 |
Source: Ownwell