Gorham, Coos County, New Hampshire Property Taxes
The median property tax rate in Gorham, NH is 2.43%, significantly higher than both the national median of 0.99% and New Hampshire's state median of 1.91%. With the median home value in Gorham at $162,900, the typical annual property tax bill reaches $3,946, surpassing the national median of $2,690. Property taxes in Gorham are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gorham'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 Gorham 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
Gorham, Coos County, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.43%
Estimate Property Tax Bill
$3,958
$3,673
Ownwell’s Gorham Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gorham with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Gorham to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends at a neighborhood level, additional localized information is available. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Gorham, Coos County, New Hampshire
Property taxes in Gorham, 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 Gorham is 2.91%, significantly higher than both the New Hampshire state median of 2.18% and the U.S. national median of 0.99%. Local government entities within Gorham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gorham 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 Gorham's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03581 zip code has the highest median property tax rate of 2.91%, while the same zip code has the lowest median tax rate of 2.91%. Understanding how these cities compare with Gorham provides valuable insights into the varying tax landscape across Coos County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gorham Tax Rate
2.43%
Average Coos County Tax Rate
2.43%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gorham, Coos County, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03581 | 2.42% | 2.42% | 2.43% | 2.43% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Gorham, Coos County, New Hampshire
In Gorham, 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 local authorities 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 Gorham, 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 Gorham 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 is 03581, both recorded at $3,946.
Property Tax Assessment Values Across Gorham, Coos County, New Hampshire
Source: Ownwell
$34,000
$225,280
$416,560
Average Gorham Assessed Value
$162,900
Average Coos County Assessed Value
$128,700
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gorham, Coos County, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03581 | $37,900 | $88,700 | $162,900 | $216,050 | $291,600 |
Source: Ownwell
Property Tax Bills Across Gorham, Coos County, New Hampshire
In Gorham, 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 the town's assessor, reflecting the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the home. For example, the median home price in Gorham is $162,900, and property tax bills can range significantly. Homeowners at the 25th percentile pay around $2,167 annually, while those at the 75th percentile see bills closer to $5,200. The 90th percentile faces even higher taxes, up to $7,021. These property taxes can significantly impact homeowners, affecting their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Gorham's property tax rates reflect the unique economic conditions and public service needs of the area.
Average Gorham Tax Bill
$3,946
Average Coos County Tax Bill
$2,848
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Gorham, Coos County, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03581 | $970 | $2,167 | $3,946 | $5,200 | $7,021 |
Source: Ownwell