Grafton, New Hampshire Property Taxes
The median property tax rate in Grafton, NH is 2.73%, 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 Grafton, the typical annual property tax bill reaches $4,098, exceeding the national median of $2,690. Property taxes in Grafton 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 Grafton'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 Grafton 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
Grafton, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$4,098
Ownwell’s Grafton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grafton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grafton 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 Grafton, New Hampshire
Property taxes in Grafton, New Hampshire, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grafton is 2.73%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Grafton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grafton 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 Grafton's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03240 zip code has the highest median property tax rate of 2.73%, while the 03240 zip code also has the lowest median tax rate of 2.73%. Understanding how these areas compare with Grafton provides valuable insights into the varying tax landscape across Grafton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grafton Tax Rate
2.73%
Average Grafton County Tax Rate
2.30%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grafton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03240 | 2.73% | 2.73% | 2.73% | 2.73% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Grafton, New Hampshire
In Grafton, 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 local 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 Grafton, 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. In Grafton, the median home price is $150,100, with tax bills ranging from $2,680 at the 25th percentile to $6,772 at the 90th percentile. Notably, the zip code 03240 has the highest and lowest median tax bill, both at $4,098. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grafton Assessed Value
$150,100
Average Grafton County Assessed Value
$210,700
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grafton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03240 | $63,528 | $98,650 | $150,100 | $197,300 | $248,061 |
Source: Ownwell
Property Tax Bills Across Grafton, New Hampshire
Property tax bills in Grafton, NH, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is based on the market value of the home, which in Grafton has a median price of $150,100. Factors such as property size, location, and market conditions are considered during the assessment process. The tax rate is set by local government and can vary annually based on budgetary needs and public services funding. For homeowners in Grafton, property tax bills can significantly impact their finances. At the 25th percentile, the tax bill is around $2,680, while at the 75th percentile, it rises to approximately $5,386. The highest tax bills, at the 90th percentile, can reach up to $6,772. The median tax bill in the zip code 03240 is $4,098, which is considerably higher than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and plan their budgets accordingly.
Average Grafton Tax Bill
$4,098
Average Grafton County Tax Bill
$4,270
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Grafton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03240 | $1,734 | $2,680 | $4,098 | $5,386 | $6,772 |
Source: Ownwell