Chocorua, New Hampshire Property Taxes
The median property tax rate in Chocorua, NH is 2.38%, 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 Chocorua, the typical annual property tax bill reaches $3,422, exceeding the national median of $2,690. Property taxes in Chocorua 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 Chocorua'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 Chocorua 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
Chocorua, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.38%
Estimate Property Tax Bill
$3,449
Ownwell’s Chocorua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chocorua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chocorua 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 Chocorua, New Hampshire
Property taxes in Chocorua, New Hampshire, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Chocorua is 2.38%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Chocorua set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chocorua 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 Chocorua's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03817 zip code has both the highest and lowest median property tax rate of 2.38%. Understanding how these areas compare with Chocorua provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chocorua Tax Rate
2.38%
Average Carroll County Tax Rate
1.32%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chocorua, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03817 | 2.38% | 2.38% | 2.38% | 2.38% | 2.38% |
Source: Ownwell
Property Tax Assessment Values Across Chocorua, New Hampshire
In Chocorua, 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 Carroll 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 Chocorua, 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 Chocorua helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Carroll County, the zip code 03817 has the highest median tax bill of $3422, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Chocorua, New Hampshire
Source: Ownwell
$127,800
$357,900
$588,000
Average Chocorua Assessed Value
$144,900
Average Carroll County Assessed Value
$256,900
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chocorua, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03817 | $90,950 | $116,575 | $144,900 | $202,487 | $286,458 |
Source: Ownwell
Property Tax Bills Across Chocorua, New Hampshire
In Chocorua, Carroll 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 Chocorua face a range of property tax bills, with the 25th percentile at $2,767 and the 75th percentile at $4,813, while the 90th percentile can reach up to $6,809. Compared to the national median property tax rate of 0.99%, Chocorua's property tax rates can significantly impact homeowners, particularly those with higher-valued properties. For instance, the highest median tax bill in the area is $3,422, which is notably higher than the national average. This financial obligation can influence decisions on property purchases and long-term residency, making it essential for homeowners to understand how their tax bills are calculated and budget accordingly.
Average Chocorua Tax Bill
$3,422
Average Carroll County Tax Bill
$3,014
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Chocorua, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03817 | $2,137 | $2,767 | $3,422 | $4,813 | $6,809 |
Source: Ownwell