Monroe, New Hampshire Property Taxes
The median property tax rate in Monroe, NH is 1.22%, which is considerably higher than the national median of 0.99% but lower than the New Hampshire state median of 1.91%. With the median home value in Monroe at $172,300, the typical annual property tax bill reaches $2,100, still below the national median of $2,690. Property taxes in Monroe are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Monroe'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 Monroe 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
Monroe, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$2,102
Ownwell’s Monroe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monroe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monroe 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 Monroe, New Hampshire
Property taxes in Monroe, New Hampshire, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Monroe is 1.22%, significantly higher than the U.S. national median of 0.99%. Local government entities within Monroe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monroe 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 Monroe's effective property tax rate to other areas in New Hampshire and the national median. For comparison, the zip code 03771 has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these areas compare with Monroe 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 Monroe Tax Rate
1.22%
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 Monroe, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03771 | 1.22% | 1.22% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Monroe, New Hampshire
In Monroe, 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 Grafton 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 Monroe, 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 Monroe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Monroe both stand at $2,100, specifically in the 03771 zip code.
Average Monroe Assessed Value
$172,300
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 Monroe, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03771 | $98,722 | $140,100 | $172,300 | $210,400 | $270,913 |
Source: Ownwell
Property Tax Bills Across Monroe, New Hampshire
In Monroe, NH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Monroe is $172,300. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Monroe can expect a tax bill ranging from $1,708 at the 25th percentile to $3,302 at the 90th percentile. The median tax bill in Monroe is notably higher than the national median property tax rate of 0.99%, reflecting the local tax policies and property values. For instance, the highest and lowest median tax bills in the area are both $2,100, indicating a consistent assessment approach within the region. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors can help homeowners anticipate their annual financial obligations.
Average Monroe Tax Bill
$2,100
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 Monroe, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03771 | $1,204 | $1,708 | $2,100 | $2,565 | $3,302 |
Source: Ownwell