Hillsborough, New Hampshire Property Taxes
The median property tax rate in Hillsborough, 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 Hillsborough, the typical annual property tax bill reaches $4,890, exceeding the national median of $2,690. Property taxes in Hillsborough 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 Hillsborough'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 Hillsborough 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
Hillsborough, 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 Hillsborough Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating 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 Hillsborough 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 Hillsborough, New Hampshire
Property taxes in Hillsborough, NH, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsborough is 2.67%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hillsborough set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsborough 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 Hillsborough's effective property tax rate to other counties 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 cities compare with Hillsborough 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 Hillsborough 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 Hillsborough, 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 Hillsborough, New Hampshire
In Hillsborough, 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 Hillsborough, 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 Hillsborough 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 median bill of $4,890, while the same zip code also has the lowest median tax bill at $4,890.
Property Tax Assessment Values Across Hillsborough, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Hillsborough Assessed Value
$183,750
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 Hillsborough, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03244 | $97,910 | $141,100 | $183,750 | $228,947 | $288,094 |
Source: Ownwell
Property Tax Bills Across Hillsborough, New Hampshire
In Hillsborough, 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 city's tax assessor and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property size, location, and condition play significant roles in the assessment process. Homeowners in Hillsborough can expect varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is around $3,718, while at the 75th percentile, it rises to approximately $6,096. The highest median tax bill in the area is $4,890. These figures indicate that Hillsborough's property tax rates are notably higher than the national median property tax rate of 0.99%, which can significantly impact homeowners' financial planning. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Hillsborough Tax Bill
$4,890
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 Hillsborough, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03244 | $2,498 | $3,718 | $4,890 | $6,096 | $7,659 |
Source: Ownwell