Hillsboro, New Hampshire Property Taxes
The median property tax rate in Hillsboro, NH is 2.67%, 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 Hillsboro at $178,439, the typical annual property tax bill reaches $4,762, exceeding the national median of $2,690. Property taxes in Hillsboro 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 Hillsboro'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 Hillsboro 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
Hillsboro, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.67%
Estimate Property Tax Bill
$4,764
Ownwell’s Hillsboro Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsboro 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 Hillsboro, New Hampshire
Property taxes in Hillsboro, New Hampshire, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsboro is 2.67%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsboro 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 Hillsboro's effective property tax rate to other areas in New Hampshire and the national median. For comparison, the 03244 zip code has the highest median property tax rate of 2.67%, while the same zip code also has the lowest median tax rate of 2.67%. Understanding how these areas compare with Hillsboro provides valuable insights into the varying tax landscape across Hillsborough County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsboro Tax Rate
2.67%
Average Hillsborough County Tax Rate
1.89%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsboro, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03244 | 2.67% | 2.67% | 2.67% | 2.67% | 2.67% |
Source: Ownwell
Property Tax Assessment Values Across Hillsboro, New Hampshire
In Hillsboro, 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 Hillsborough 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 Hillsboro, 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 Hillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 03244, with a value of $4,762.
Property Tax Assessment Values Across Hillsboro, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Hillsboro Assessed Value
$178,439
Average Hillsborough County Assessed Value
$355,600
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsboro, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03244 | $60,737 | $87,475 | $178,439 | $212,625 | $261,128 |
Source: Ownwell
Property Tax Bills Across Hillsboro, New Hampshire
In Hillsboro, 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 city’s tax assessor, who evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, in Hillsboro, the median home price is $178,439, and the property tax rates can vary, leading to different tax bills for homeowners. Several factors influence the assessed value, including the property's location, size, and condition. The tax bill can significantly impact homeowners, with the 25th percentile tax bill at $2,334 and the 75th percentile reaching $5,675. At the higher end, the 90th percentile tax bill can go up to $6,970. These figures highlight the variability in tax burdens, which can affect household budgets and overall financial planning. Understanding these components can help homeowners better anticipate and manage their annual property tax responsibilities.
Average Hillsboro Tax Bill
$4,762
Average Hillsborough County Tax Bill
$6,748
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsboro, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03244 | $1,621 | $2,334 | $4,762 | $5,675 | $6,970 |
Source: Ownwell