Concord, New Hampshire Property Taxes
The median property tax rate in Concord, NH is 2.59%, 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 Concord, the typical annual property tax bill reaches $7,120, far exceeding the national median of $2,690. Property taxes in Concord 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 Concord'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 Concord 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
Concord, 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 Concord Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Concord with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Concord to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in trends at a neighborhood level, more localized information is available by scrolling down. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Concord, New Hampshire
Property taxes in Concord, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Concord is 2.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Concord set these rates annually, and they can vary significantly across different neighborhoods. Each year, Concord 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 Concord's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03303 zip code has the highest median property tax rate of 2.59%, while the 03301 zip code has the lowest median tax rate of 2.59%. Understanding how these areas compare with Concord 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 Concord Tax Rate
2.59%
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 Concord, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03301 | 2.59% | 2.59% | 2.59% | 2.59% | 2.59% |
| 03303 | 2.59% | 2.59% | 2.59% | 2.91% | 2.91% |
Source: Ownwell
Property Tax Assessment Values Across Concord, New Hampshire
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Concord, NH. The market value represents 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 Concord, 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 example, the zip code 03301 has the highest median tax bill at $7,350, while the zip code 03303 has the lowest at $6,511. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Concord Assessed Value
$271,100
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 Concord, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03301 | $98,780 | $227,100 | $283,900 | $357,900 | $451,020 |
| 03303 | $69,160 | $151,775 | $233,350 | $291,725 | $357,180 |
Source: Ownwell
Property Tax Bills Across Concord, New Hampshire
In Concord, Merrimack County, NH, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For instance, homes in zip code 03301 have the highest median tax bill at $7,350, while those in zip code 03303 have a lower median tax bill of $6,511. Homeowners in Concord can expect tax bills to vary widely. The 25th percentile tax bill is $5,372, while the 75th percentile is $8,917, and the 90th percentile reaches $11,192. These figures highlight the significant variation in property tax burdens across different homes. Given that the national median property tax rate is 0.99%, these numbers indicate that Concord homeowners may face higher-than-average property taxes, impacting their overall financial planning and homeownership costs.
Average Concord Tax Bill
$7,120
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 Concord, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03301 | $2,575 | $5,892 | $7,350 | $9,267 | $11,677 |
| 03303 | $1,797 | $4,028 | $6,511 | $8,006 | $9,830 |
Source: Ownwell