Albany, New Hampshire Property Taxes
The median property tax rate in Albany, NH is 1.01%, slightly higher than the national median of 0.99% but significantly lower than the New Hampshire state median of 1.91%. With a median home value of $169,600 in Albany, the typical annual property tax bill amounts to $1,747, which is below the national median of $2,690. Property taxes in Albany are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Albany's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Albany or another part of Carroll County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Albany, 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 Albany Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Albany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Albany to provide an accurate property tax bill estimate. This insightful tool helps you understand potential tax liabilities with ease. For those interested in more granular insights, you can scroll down to discover localized information on a neighborhood level. 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 Albany, New Hampshire
Property taxes in Albany, New Hampshire, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Albany is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Albany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albany 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 Albany's effective property tax rate to other areas in New Hampshire and the national median. For comparison, the zip code 03818 has both the highest and lowest median property tax rate of 1.01%. Understanding how these areas compare with Albany provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albany Tax Rate
1.01%
Average Carroll County Tax Rate
1.32%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albany, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03818 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Albany, New Hampshire
In Albany, 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 Carroll 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 Albany, 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 Albany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Albany are both $1,747, found in the 03818 zip code.
Average Albany Assessed Value
$169,600
Average Carroll County Assessed Value
$256,900
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albany, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03818 | $38,880 | $92,600 | $169,600 | $264,569 | $364,720 |
Source: Ownwell
Property Tax Bills Across Albany, New Hampshire
In Albany, located in Carroll County, NH, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $169,600, homeowners can expect a range of tax bills. At the 25th percentile, the tax bill is around $937, while at the 75th percentile, it reaches approximately $2,778. For those in the 90th percentile, the tax bill can be as high as $4,119. Several factors influence the assessed value, including the property's location, size, and condition. These assessments ensure that property taxes are distributed fairly among homeowners. Compared to the national median property tax rate of 0.99%, Albany's property tax bills reflect the local rates and home values, impacting homeowners' annual financial obligations. This system ensures that taxes are tailored to the specific economic landscape of Albany, NH.
Average Albany Tax Bill
$1,747
Average Carroll County Tax Bill
$3,014
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Albany, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03818 | $406 | $937 | $1,747 | $2,778 | $4,119 |
Source: Ownwell