Silver Lake, New Hampshire Property Taxes
The median property tax rate in Silver Lake, NH is 1.55%, which is considerably higher than the national median of 0.99% but lower than the New Hampshire state median of 1.91%. With a median home value of $263,450 in Silver Lake, the typical annual property tax bill reaches $4,148, significantly exceeding the national median of $2,690. Property taxes in Silver Lake 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 Silver Lake'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 Silver Lake 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
Silver Lake, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$4,083
Ownwell’s Silver Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silver Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silver Lake 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 Silver Lake, New Hampshire
Property taxes in Silver Lake, 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 Silver Lake is 1.55%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Silver Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silver Lake 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 Silver Lake's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03875 zip code has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Silver Lake 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 Silver Lake Tax Rate
1.55%
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 Silver Lake, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03875 | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Silver Lake, New Hampshire
In Silver Lake, 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 local 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 Silver Lake, 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 Silver Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Silver Lake are both $4,148, found in the zip code 03875.
Property Tax Assessment Values Across Silver Lake, New Hampshire
Source: Ownwell
$127,800
$357,900
$588,000
Average Silver Lake Assessed Value
$263,450
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 Silver Lake, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03875 | $146,800 | $197,425 | $263,450 | $399,493 | $644,990 |
Source: Ownwell
Property Tax Bills Across Silver Lake, New Hampshire
In Silver Lake, located in Carroll County, NH, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town's assessment office and reflects the property's market value. This value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, the median home price in Silver Lake is $263,450. Homeowners in the 25th percentile can expect tax bills around $3,196, while those in the 75th percentile may see bills as high as $6,217. The top 10% of property tax bills can reach up to $9,991. Comparatively, the national median property tax rate is 0.99%, making Silver Lake's tax rates notably higher. This higher tax burden can significantly impact homeowners, influencing decisions on property improvements and financial planning.
Average Silver Lake Tax Bill
$4,148
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 Silver Lake, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03875 | $2,377 | $3,196 | $4,148 | $6,217 | $9,991 |
Source: Ownwell