Nelson, New Hampshire Property Taxes
The median property tax rate in Nelson, NH is 1.41%, 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 Nelson, the typical annual property tax bill reaches $4,306, exceeding the national median of $2,690. Property taxes in Nelson 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 Nelson'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 Nelson 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
Nelson, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$4,293
Ownwell’s Nelson Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Nelson with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Nelson to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax responsibilities. For those interested in neighborhood-level trends, scroll down to discover more localized information. Your property’s assessed value is the figure assigned by the county for property tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across Nelson, New Hampshire
Property taxes in Nelson, 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 Nelson is 1.41%, significantly higher than the U.S. national median of 0.99%. Local government entities within Nelson set these rates annually, and they can vary across different neighborhoods. Each year, Nelson 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 Nelson's effective property tax rate to other areas in Cheshire County and the national median. For comparison, the zip code 03457 in Nelson has the highest median property tax rate of 1.41%, which is also the lowest median tax rate in the area. Understanding how these figures compare with Nelson provides valuable insights into the varying tax landscape across Cheshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nelson Tax Rate
1.41%
Average Cheshire County Tax Rate
2.60%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nelson, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03457 | 1.41% | 1.41% | 1.41% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Nelson, New Hampshire
In Nelson, New Hampshire, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. Market value represents 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 Cheshire County Appraisal District for tax purposes. On the other hand, 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 property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Nelson, 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. For instance, Nelson's highest median tax bill is $4,306 in the 03457 zip code, while the lowest median tax bill is also $4,306 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nelson Assessed Value
$304,500
Average Cheshire County Assessed Value
$207,690
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nelson, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03457 | $162,600 | $214,900 | $304,500 | $446,596 | $681,220 |
Source: Ownwell
Property Tax Bills Across Nelson, New Hampshire
In Nelson, located in Cheshire County, NH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property’s market value. Homeowners in Nelson face a median property tax rate that is significantly higher than the national median of 0.99%. This results in substantial tax bills for residents, with the 25th percentile tax bill at $3,133 and the 75th percentile reaching $6,345. For those in the 90th percentile, tax bills can soar up to $9,619. The highest and lowest median tax bills in the area are both recorded at $4,306 in the 03457 zip code. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Consequently, the property tax burden in Nelson can significantly impact homeowners, influencing their financial planning and potentially affecting property values and market dynamics in the region.
Average Nelson Tax Bill
$4,306
Average Cheshire County Tax Bill
$5,311
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Nelson, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03457 | $2,350 | $3,133 | $4,306 | $6,345 | $9,619 |
Source: Ownwell