Gilford, New Hampshire Property Taxes
The median property tax rate in Gilford, NH is 1.23%, 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 Gilford at $326,980, the typical annual property tax bill reaches $4,016, exceeding the national median of $2,690. Property taxes in Gilford 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 Gilford'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 Gilford 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
Gilford, 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 Gilford Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Gilford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilford to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. 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 Gilford, New Hampshire
Property taxes in Gilford, 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 Gilford is 1.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Gilford set these rates annually, and they can vary across different neighborhoods. Each year, Gilford 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 Gilford's effective property tax rate to other areas in Belknap County and the national median. For comparison, the zip code 03249 has both the highest and lowest median property tax rate in the area, which is consistent at 1.23%. Understanding how these cities compare with Gilford 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 Gilford Tax Rate
1.23%
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 Gilford, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03249 | 1.22% | 1.22% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Gilford, New Hampshire
In Gilford, 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 Belknap 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 Gilford, 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 highest median tax bill in Gilford is $4016 in the 03249 zip code, while the lowest median tax bill is also $4016 in the same 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 Gilford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Gilford, New Hampshire
Source: Ownwell
$180,762
$809,631
$1,438,500
Average Gilford Assessed Value
$326,980
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 Gilford, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03249 | $65,900 | $210,070 | $326,980 | $485,900 | $711,120 |
Source: Ownwell
Property Tax Bills Across Gilford, New Hampshire
In Gilford, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the local assessor and reflects the home's market value. Homeowners in Gilford, which is part of Belknap County, face a median property tax bill of $4,016, significantly higher than the national median property tax rate of 0.99%. Factors influencing the tax bill include property size, location, and any improvements made to the property. For instance, homes in the 25th percentile have tax bills around $2,585, while those in the 75th percentile see bills closer to $5,967. The top 10% of homes can even reach tax bills as high as $8,752. These taxes fund essential local services such as schools, public safety, and infrastructure. High property taxes can impact homeowners by increasing their monthly expenses, but they also contribute to maintaining and enhancing community services and property values.
Average Gilford Tax Bill
$4,016
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 Gilford, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03249 | $824 | $2,585 | $4,016 | $5,967 | $8,752 |
Source: Ownwell