Grantham, New Hampshire Property Taxes
The median property tax rate in Grantham, NH is 2.57%, 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 Grantham at $484,900, the typical annual property tax bill reaches $12,486, exceeding the national median of $2,690. Property taxes in Grantham 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 Grantham'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 Grantham 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
Grantham, New Hampshire Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$3,820
Ownwell’s Grantham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grantham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grantham 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 Grantham, New Hampshire
Property taxes in Grantham, 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 Grantham is 2.57%, significantly higher than the U.S. national median of 0.99%. Local government entities within Grantham set these rates annually, and they can vary across different neighborhoods. Each year, Grantham 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 Grantham's effective property tax rate to other areas and the national median. For comparison, the zip code 03753 has both the highest and lowest median property tax rate of 2.57%. Understanding how these areas compare with Grantham provides valuable insights into the varying tax landscape across Grafton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grantham Tax Rate
2.57%
Average Grafton County Tax Rate
2.30%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grantham, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03753 | 2.57% | 2.57% | 2.57% | 2.58% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across Grantham, New Hampshire
In Grantham, New Hampshire, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by local authorities 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 property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Grantham, 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 Grantham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both at $12,486, are found in the 03753 zip code.
Average Grantham Assessed Value
$484,900
Average Grafton County Assessed Value
$210,700
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grantham, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03753 | $200,320 | $250,600 | $484,900 | $539,400 | $601,860 |
Source: Ownwell
Property Tax Bills Across Grantham, New Hampshire
In Grantham, located in Grafton 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 local authorities and reflects the market value of the property. The tax rate is then applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $484,900, the tax bill can vary significantly. Homeowners in the 25th percentile might see a tax bill of around $6,453, while those in the 75th percentile could face a bill as high as $13,890. At the 90th percentile, the tax bill can reach up to $15,498. The highest and lowest median tax bills in the area are both recorded at $12,486 in the 03753 zip code, indicating some level of consistency in that region. Compared to the national median property tax rate of 0.99%, Grantham's rates can be considerably higher, impacting homeowners by increasing their annual financial obligations.
Average Grantham Tax Bill
$12,486
Average Grafton County Tax Bill
$4,270
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Grantham, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03753 | $5,158 | $6,453 | $12,486 | $13,890 | $15,498 |
Source: Ownwell