Bow, New Hampshire Property Taxes
The median property tax rate in BOW, NH is 2.65%, 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 BOW at $337,400, the typical annual property tax bill reaches $8,948, far exceeding the national median of $2,690. Property taxes in BOW 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 BOW'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 BOW 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
Bow, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$8,941
Ownwell’s BOW Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in BOW with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BOW 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 Bow, New Hampshire
Property taxes in BOW, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in BOW is 2.65%, significantly higher than the U.S. national median of 0.99%. Local government entities within BOW set these rates annually, and they can vary significantly across different neighborhoods. Each year, BOW 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 BOW's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03304 zip code has the highest median property tax rate of 2.65%, while the same zip code also has the lowest median tax rate of 2.65%. Understanding how these cities compare with BOW provides valuable insights into the varying tax landscape across Merrimack County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bow Tax Rate
2.65%
Average Merrimack County Tax Rate
2.44%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bow, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03304 | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across Bow, New Hampshire
In BOW, 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 Merrimack 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 BOW, 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. For instance, the median home price in BOW is $337,400, with the 25th percentile tax bill at $7,214 and the 75th percentile tax bill at $10,708. The highest and lowest median tax bills are both $8,948, found in the 03304 zip code. 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 BOW helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bow Assessed Value
$337,400
Average Merrimack County Assessed Value
$264,400
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bow, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03304 | $231,580 | $272,050 | $337,400 | $403,800 | $515,400 |
Source: Ownwell
Property Tax Bills Across Bow, New Hampshire
In Bow, located in Merrimack 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 the local assessor's office, which evaluates the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Factors such as the property's size, location, and condition influence the assessed value. For homeowners in Bow, the median home price is $337,400. Tax bills in the area vary significantly, with the 25th percentile tax bill at $7,214 and the 75th percentile at $10,708. The highest median tax bill in the region is $8,948, which also applies to the lowest median tax bill, indicating uniformity in certain areas. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the quality of life in the community. Compared to the national median property tax rate of 0.99%, Bow's property taxes reflect the community's investment in maintaining and improving local amenities.
Average Bow Tax Bill
$8,948
Average Merrimack County Tax Bill
$6,194
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Bow, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03304 | $6,141 | $7,214 | $8,948 | $10,708 | $13,669 |
Source: Ownwell