Bennington, New Hampshire Property Taxes
The median property tax rate in Bennington, NH is 3.17%, 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 Bennington, the typical annual property tax bill reaches $5,204, exceeding the national median of $2,690. Property taxes in Bennington 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 Bennington'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 Bennington 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
Bennington, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.17%
Estimate Property Tax Bill
$5,213
Ownwell’s Bennington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bennington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bennington 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 Bennington, New Hampshire
Property taxes in Bennington, 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 Bennington is 2.10%, higher than both the New Hampshire state median of 2.18% and the U.S. national median of 0.99%. Local government entities within Bennington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bennington 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 Bennington's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03442 zip code has the highest median property tax rate of 2.10%, while the 03442 zip code also has the lowest median tax rate of 2.10%. Understanding how these cities compare with Bennington provides valuable insights into the varying tax landscape across Hillsborough County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bennington Tax Rate
3.17%
Average Hillsborough County Tax Rate
1.89%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bennington, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03442 | 3.16% | 3.16% | 3.17% | 3.17% | 3.17% |
Source: Ownwell
Property Tax Assessment Values Across Bennington, New Hampshire
In Bennington, New Hampshire, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The 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 Hillsborough 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. 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 Bennington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 03442, with a value of $5,204.00, while the lowest median tax bill is also in 03442, with the same value of $5,204.00.
Property Tax Assessment Values Across Bennington, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Bennington Assessed Value
$164,450
Average Hillsborough County Assessed Value
$355,600
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bennington, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03442 | $67,800 | $106,825 | $164,450 | $206,300 | $248,100 |
Source: Ownwell
Property Tax Bills Across Bennington, New Hampshire
In Bennington, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town's assessor and represents a percentage of the property's market value. Bennington falls within Hillsborough County, where the median home price is $164,450. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and improvements. Homeowners in Bennington can expect to pay a tax bill ranging from $3,381 at the 25th percentile to $7,853 at the 90th percentile. The highest median tax bill in the area is $5,204, which is significantly higher than the national median property tax rate of 0.99%. This higher rate can impact homeowners by increasing their annual expenses, which may affect their overall financial planning and budgeting. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Bennington Tax Bill
$5,204
Average Hillsborough County Tax Bill
$6,748
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Bennington, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03442 | $2,146 | $3,381 | $5,204 | $6,529 | $7,853 |
Source: Ownwell