Durham, New Hampshire Property Taxes
The median property tax rate in Durham, NH is 2.90%, significantly higher than both the national median of 0.99% and the New Hampshire state median of 1.91%. With the median home value in Durham at $350,600, the typical annual property tax bill reaches $10,180, far exceeding the national median of $2,690. Property taxes in Durham are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Durham'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 Durham 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
Durham, 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 Durham Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Durham with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Durham to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities, offering peace of mind and financial clarity. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down for localized information. Your property’s assessed value, determined by Strafford County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Durham, New Hampshire
Property taxes in Durham, 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 Durham is 2.90%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Durham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Durham 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 Durham's effective property tax rate to other areas in New Hampshire and the national median. For comparison, the zip code 03824 has the highest median property tax rate of 2.90%, while the same zip code also has the lowest median tax rate of 2.90%. Understanding how these figures compare with Durham provides valuable insights into the varying tax landscape across Strafford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Durham Tax Rate
2.90%
Average Strafford County Tax Rate
2.42%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Durham, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03824 | 2.90% | 2.90% | 2.90% | 2.90% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Durham, New Hampshire
In Durham, 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 Strafford 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 Durham, 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 Durham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Durham stands at $350,600, with tax bills ranging from $8,556 at the 25th percentile to $15,335 at the 90th percentile. The zip code 03824 has the highest and lowest median tax bill at $10,180.
Average Durham Assessed Value
$350,600
Average Strafford County Assessed Value
$262,600
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Durham, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03824 | $247,150 | $294,700 | $350,600 | $423,350 | $528,080 |
Source: Ownwell
Property Tax Bills Across Durham, New Hampshire
In Durham, located in Strafford County, NH, property tax bills are determined by the assessed value of your home and the local tax rate. The assessed value is an estimate of your property's market value, which is periodically updated by the county assessor’s office. Durham's property tax rate is significantly higher than the national median property tax rate of 0.99%, reflecting the region's higher property values and funding needs for local services. For a home with a median price of $350,600, homeowners can expect to pay a substantial tax bill. The tax bill at the 25th percentile is $8,556, while at the 75th percentile, it rises to $12,294. At the 90th percentile, the tax bill can reach as high as $15,335. These figures indicate that Durham has one of the highest median tax bills in the region, with the zip code 03824 seeing a consistent median tax bill of $10,180. This considerable tax burden underscores the importance of accurate property assessments and understanding local tax rates for homeowners.
Average Durham Tax Bill
$10,180
Average Strafford County Tax Bill
$5,998
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Durham, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03824 | $7,178 | $8,556 | $10,180 | $12,294 | $15,335 |
Source: Ownwell