Canterbury, New Hampshire Property Taxes
The median property tax rate in Canterbury, NH is 2.08%, 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 Canterbury at $312,382, the typical annual property tax bill reaches $6,477, exceeding the national median of $2,690. Property taxes in Canterbury 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 Canterbury'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 Canterbury 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
Canterbury, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$6,498
Ownwell’s Canterbury Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Canterbury with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Canterbury to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Canterbury, New Hampshire
Property taxes in Canterbury, 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 Canterbury is 2.08%, significantly higher than the U.S. national median of 0.99%. Local government entities within Canterbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canterbury 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 Canterbury's effective property tax rate to other areas in Merrimack County and the national median. For comparison, the 03224 zip code has both the highest and lowest median property tax rate of 2.08%. Understanding how these cities compare with Canterbury 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 Canterbury Tax Rate
2.08%
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 Canterbury, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03224 | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Canterbury, New Hampshire
In Canterbury, 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 local 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 Canterbury, 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 Canterbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $6,477 in zip code 03224, indicating a uniformity in tax obligations across the area.
Property Tax Assessment Values Across Canterbury, New Hampshire
Source: Ownwell
$10,000
$280,850
$551,700
Average Canterbury Assessed Value
$312,382
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 Canterbury, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03224 | $202,760 | $250,650 | $312,382 | $388,100 | $463,878 |
Source: Ownwell
Property Tax Bills Across Canterbury, New Hampshire
In Canterbury, 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 town's assessor, who evaluates the property’s market value. This value is then multiplied by the tax rate set by local authorities to determine the annual tax bill. Homeowners in this region experience varying tax bills, with the 25th percentile paying around $5,210 and the 75th percentile paying up to $8,067. For those in the 90th percentile, tax bills can reach as high as $9,649. Comparatively, Canterbury's median tax bill stands at $6,477, which is significantly higher than the national median property tax rate of 0.99%. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and financial planning. Understanding these factors is crucial for homeowners to anticipate their annual expenses and make informed decisions about their property investments.
Average Canterbury Tax Bill
$6,477
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 Canterbury, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03224 | $4,217 | $5,210 | $6,477 | $8,067 | $9,649 |
Source: Ownwell