Troy, New Hampshire Property Taxes
The median property tax rate in Troy, NH is 3.48%, 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 Troy at $136,400, the typical annual property tax bill reaches $4,744, exceeding the national median of $2,690. Property taxes in Troy 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 Troy'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 Troy 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
Troy, 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 Troy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Troy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Troy 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 Troy, New Hampshire
Property taxes in Troy, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Troy is 3.48%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Troy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Troy 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 Troy's effective property tax rate to other areas in Cheshire County and the national median. For comparison, the 03465 zip code has the highest median property tax rate of 3.48%, while the same 03465 zip code also has the lowest median tax rate of 3.48%. Understanding how these cities compare with Troy 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 Troy Tax Rate
3.48%
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 Troy, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03465 | 3.48% | 3.48% | 3.48% | 3.48% | 3.48% |
Source: Ownwell
Property Tax Assessment Values Across Troy, New Hampshire
In Troy, 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 Cheshire 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 Troy, 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 Troy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Troy are both $4744 in the 03465 zip code.
Average Troy Assessed Value
$136,400
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 Troy, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03465 | $53,280 | $100,500 | $136,400 | $171,600 | $214,910 |
Source: Ownwell
Property Tax Bills Across Troy, New Hampshire
In Troy, NH, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Cheshire County. The assessed value is determined by the town's assessor and reflects the market value of the property. Homeowners in Troy face a median property tax bill of $4,744, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and condition. For instance, homes in the 25th percentile have tax bills around $3,496, while those in the 75th percentile see bills closer to $5,925. At the 90th percentile, tax bills can reach up to $7,416. These variations highlight the impact of property values and local tax rates on homeowners. High property taxes can affect homeowners by increasing the overall cost of owning a home, potentially impacting affordability. However, these taxes also fund essential local services such as schools, public safety, and infrastructure, which can enhance the quality of life in Troy.
Average Troy Tax Bill
$4,744
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 Troy, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03465 | $1,853 | $3,496 | $4,744 | $5,925 | $7,416 |
Source: Ownwell