Rumney, New Hampshire Property Taxes
The median property tax rate in Rumney, NH is 2.30%, 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 Rumney at $152,250, the typical annual property tax bill reaches $3,200, exceeding the national median of $2,690. Property taxes in Rumney 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 Rumney'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 Rumney 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
Rumney, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$3,502
Ownwell’s Rumney Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Rumney effortlessly with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Rumney to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities and plan accordingly. For those interested in more granular insights, there is localized information available further down the page. Your property’s assessed value is determined by Grafton County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Rumney, New Hampshire
Property taxes in Rumney, NH, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rumney is 2.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Rumney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rumney 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 Rumney's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the zip code 03266 has the highest median property tax rate of 2.30%, while the same zip code also has the lowest median tax rate of 2.30%. Understanding how these areas compare with Rumney 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 Rumney Tax Rate
2.30%
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 Rumney, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03266 | 1.00% | 2.30% | 2.30% | 2.30% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Rumney, New Hampshire
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rumney, NH. 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. Assessment notices in Rumney 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 Rumney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Rumney are both $3,200, found in the 03266 zip code.
Average Rumney Assessed Value
$152,250
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 Rumney, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03266 | $46,900 | $95,475 | $152,250 | $220,512 | $299,600 |
Source: Ownwell
Property Tax Bills Across Rumney, New Hampshire
In Rumney, 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. This assessed value is then multiplied by the tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions are considered in the assessment process. For homeowners in Rumney, the median home price is $152,250. The property tax rate in Rumney results in a median tax bill of $3,200. This amount is significantly higher than the national median property tax rate of 0.99%. Homeowners in the 25th percentile can expect to pay around $1,910, while those in the 75th percentile face bills up to $4,586. At the 90th percentile, tax bills can reach as high as $6,501. These tax obligations can significantly impact household budgets, emphasizing the importance of accurate property assessments and potential appeals to ensure fair taxation.
Average Rumney Tax Bill
$3,200
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 Rumney, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03266 | $1,025 | $1,910 | $3,200 | $4,586 | $6,501 |
Source: Ownwell