Hooksett, New Hampshire Property Taxes
The median property tax rate in Hooksett, NH is 2.11%, 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 Hooksett at $501,600, the typical annual property tax bill reaches $10,599, far exceeding the national median of $2,690. Property taxes in Hooksett 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 Hooksett'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 Hooksett 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
Hooksett, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$10,584
-$110,918
Ownwell’s Hooksett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hooksett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hooksett 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 Hooksett, New Hampshire
Property taxes in Hooksett, 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 Hooksett is 2.11%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hooksett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hooksett 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. Understanding how these cities compare with Hooksett 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 Hooksett Tax Rate
2.11%
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 Hooksett, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03106 | 2.11% | 2.11% | 2.11% | 2.11% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Hooksett, New Hampshire
In Hooksett, 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 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. In Hooksett, 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 Hooksett 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 bills is 03106, both standing at $10,599.
Property Tax Assessment Values Across Hooksett, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Hooksett Assessed Value
$501,600
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 Hooksett, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03106 | $501,600 | $501,600 | $501,600 | $501,600 | $501,600 |
Source: Ownwell
Property Tax Bills Across Hooksett, New Hampshire
In Hooksett, located in Hillsborough County, NH, 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 local assessor's office, which evaluates the market value of the property. This value is then multiplied by the tax rate to calculate the annual tax bill. Homeowners in Hooksett experience a consistent median tax bill of $10,599 across various percentiles, reflecting the uniformity in assessed property values and tax rates in the area. This figure is significantly higher than the national median property tax rate of 0.99%, indicating a substantial financial commitment for homeowners. The higher property tax bills in Hooksett can impact homeowners by increasing the overall cost of homeownership, potentially influencing decisions on buying or selling property. However, these taxes also contribute to essential local services such as schools, public safety, and infrastructure, which can enhance the quality of life in the community.
Average Hooksett Tax Bill
$10,599
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 Hooksett, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03106 | $10,599 | $10,599 | $10,599 | $10,599 | $10,599 |
Source: Ownwell