Gilmanton Iron Works, New Hampshire Property Taxes
The median property tax rate in Gilmanton Iron Works, NH is 2.40%, significantly higher than both the national median of 0.99% and New Hampshire's state median of 1.91%. With a median home value of $242,300 in Gilmanton Iron Works, the typical annual property tax bill reaches $5,686, far exceeding the national median of $2,690. Property taxes in Gilmanton Iron Works are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Gilmanton Iron Works' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gilmanton Iron Works or another part of Belknap County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gilmanton Iron Works, 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 Gilmanton Iron Works Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilmanton Iron Works with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilmanton Iron Works 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 Gilmanton Iron Works, New Hampshire
Property taxes in Gilmanton Iron Works, New Hampshire, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilmanton Iron Works is 2.40%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Gilmanton Iron Works set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilmanton Iron Works 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 Gilmanton Iron Works' effective property tax rate to other areas in New Hampshire and the national median. For comparison, the 03837 zip code has the highest median property tax rate of 2.40%, while the same 03837 zip code also has the lowest median tax rate of 2.40%. Understanding how these areas compare with Gilmanton Iron Works 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 Gilmanton Iron Works Tax Rate
2.40%
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 Gilmanton Iron Works, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03837 | 2.40% | 2.40% | 2.40% | 2.40% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Gilmanton Iron Works, New Hampshire
In Gilmanton Iron Works, 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 Gilmanton Iron Works, 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 Gilmanton Iron Works helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in the area is 03837, with a median tax bill of $5,686.
Property Tax Assessment Values Across Gilmanton Iron Works, New Hampshire
Source: Ownwell
$180,762
$809,631
$1,438,500
Average Gilmanton Iron Works Assessed Value
$242,300
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 Gilmanton Iron Works, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03837 | $146,150 | $190,162 | $242,300 | $315,550 | $409,110 |
Source: Ownwell
Property Tax Bills Across Gilmanton Iron Works, New Hampshire
In Gilmanton Iron Works, property tax bills are determined by assessing the market value of a home and applying the local tax rate. Homeowners in the 33001 county can expect their tax bills to vary significantly based on their property's value. For instance, the median home price in the area is $242,300. At the lower end, the 25th percentile tax bill is approximately $4,343, while at the higher end, the 75th percentile tax bill reaches around $7,272. The 90th percentile tax bill can go up to $9,244, reflecting the wide range of property values and assessments in the area. These property tax bills are influenced by factors such as property size, location, and local government budgets. Homeowners in Gilmanton Iron Works face a considerable tax burden compared to the national median property tax rate of 0.99%. Understanding how these assessments work can help residents anticipate their annual property tax obligations and plan their finances accordingly.
Average Gilmanton Iron Works Tax Bill
$5,686
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 Gilmanton Iron Works, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03837 | $3,237 | $4,343 | $5,686 | $7,272 | $9,244 |
Source: Ownwell