Melvin Village, New Hampshire Property Taxes
The median property tax rate in Melvin Village, NH is 0.64%, considerably lower than both the national median of 0.99% and the New Hampshire state median of 1.91%. With the median home value in Melvin Village at $523,400, the typical annual property tax bill reaches $3,371, surpassing the national median of $2,690. Property taxes in Melvin Village 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 Melvin Village'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 Melvin Village or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Melvin Village, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$3,350
Ownwell’s Melvin Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Melvin Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melvin Village 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 Melvin Village, New Hampshire
Property taxes in Melvin Village, 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 Melvin Village is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Melvin Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melvin Village 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 Melvin Village's effective property tax rate to other areas in Carroll County and the national median. For comparison, the 03850 zip code has both the highest and lowest median property tax rate of 0.64%. Understanding how these areas compare with Melvin Village 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 Melvin Village Tax Rate
0.64%
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 Melvin Village, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03850 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Melvin Village, New Hampshire
In Melvin Village, 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 Melvin Village, 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 Melvin Village helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Melvin Village is $3,371, with the highest and lowest tax bills both recorded in the 03850 zip code.
Property Tax Assessment Values Across Melvin Village, New Hampshire
Source: Ownwell
$127,800
$357,900
$588,000
Average Melvin Village Assessed Value
$523,400
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 Melvin Village, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03850 | $408,250 | $456,625 | $523,400 | $694,125 | $1,573,200 |
Source: Ownwell
Property Tax Bills Across Melvin Village, New Hampshire
In Melvin Village, Carroll County, NH, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the local assessor's office and is meant to reflect the market value of the property. Homeowners in Melvin Village experience property tax bills that can vary significantly. For example, the tax bill at the 25th percentile is $2,941, while at the 75th percentile, it reaches $4,470. At the 90th percentile, homeowners might see tax bills as high as $10,132. These variations are influenced by factors such as property size, location, and market conditions. The median home price in Melvin Village is $523,400, which is a crucial factor in determining the overall tax burden. When compared to the national median property tax rate of 0.99%, homeowners in Melvin Village may find their tax obligations relatively high, impacting their financial planning and cost of living.
Average Melvin Village Tax Bill
$3,371
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 Melvin Village, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03850 | $2,630 | $2,941 | $3,371 | $4,470 | $10,132 |
Source: Ownwell