Belmont, Belknap County, New Hampshire Property Taxes
The median property tax rate in Belmont, NH is 1.91%, 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 Belmont, the typical annual property tax bill reaches $5,045, exceeding the national median of $2,690. Property taxes in Belmont 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 Belmont'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 Belmont 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
Belmont, Belknap County, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$4,970
$4,612
Ownwell’s Belmont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belmont 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 Belmont, Belknap County, New Hampshire
Property taxes in Belmont, 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 Belmont is 1.91%, significantly higher than the U.S. national median of 0.99%. Local government entities within Belmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belmont 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. For comparison, Belmont's property tax rate stands at 1.91%, which is consistent across the zip code 03220. Understanding how Belmont's tax rate compares with other regions provides valuable insights into the varying tax landscape across Belknap County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belmont Tax Rate
1.91%
Average Belknap County Tax Rate
1.48%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belmont, Belknap County, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03220 | 1.91% | 1.91% | 1.91% | 1.91% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Belmont, Belknap County, New Hampshire
In Belmont, 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 Belmont, 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. The median home price in Belmont is $260,200, and the median tax bill ranges significantly, with the 25th percentile at $2,454 and the 75th percentile at $6,966. The highest and lowest median tax bills, both at $5,045, can be found in the 03220 zip code. Being aware of these valuation processes in Belmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Belmont, Belknap County, New Hampshire
Source: Ownwell
$180,762
$296,646
$412,530
Average Belmont Assessed Value
$260,200
Average Belknap County Assessed Value
$267,900
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belmont, Belknap County, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03220 | $61,170 | $122,900 | $260,200 | $361,275 | $491,290 |
Source: Ownwell
Property Tax Bills Across Belmont, Belknap County, New Hampshire
In Belmont, 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 tax assessor and reflects the property's market value. Homeowners in Belmont can expect a median home price of $260,200, which serves as a baseline for calculating tax bills. The tax rate in Belmont is applied to the assessed value to determine the annual property tax bill. Various factors, including property improvements and market conditions, can influence the assessed value. For example, tax bills in Belmont range significantly, with the 25th percentile at $2,454 and the 75th percentile reaching $6,966. The 90th percentile even goes up to $9,473, illustrating the variability based on property value and other factors. Compared to the national median property tax rate of 0.99%, Belmont's tax bills highlight the importance of understanding local tax rates and assessed values. Homeowners should be aware of these factors as they can significantly impact annual expenses.
Average Belmont Tax Bill
$5,045
Average Belknap County Tax Bill
$4,251
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Belmont, Belknap County, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03220 | $1,364 | $2,454 | $5,045 | $6,966 | $9,473 |
Source: Ownwell