Merrimack, New Hampshire Property Taxes
The median property tax rate in Merrimack, NH is 1.95%, 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 Merrimack at $368,100, the typical annual property tax bill reaches $7,160, significantly exceeding the national median of $2,690. Property taxes in Merrimack are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Merrimack'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 Merrimack or another part of Hillsborough County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Merrimack, New Hampshire Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$3,820
Ownwell’s Merrimack Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Merrimack with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Merrimack 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 Merrimack, New Hampshire
Property taxes in Merrimack, New Hampshire, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Merrimack is 1.95%, significantly higher than the U.S. national median of 0.99%. Local government entities within Merrimack set these rates annually, and they can vary across different neighborhoods. Each year, Merrimack 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 Merrimack's effective property tax rate to other areas in Hillsborough County and the national median. For comparison, the 03054 zip code has both the highest and lowest median property tax rate of 1.95%. Understanding how these areas compare with Merrimack 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 Merrimack Tax Rate
1.95%
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 Merrimack, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03054 | 1.94% | 1.94% | 1.94% | 1.95% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Merrimack, New Hampshire
In Merrimack, 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 Merrimack, 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. Merrimack's median home price is $368,100, with tax bills ranging from $5,551 at the 25th percentile to $10,287 at the 90th percentile. The zip code 03054 has both the highest and lowest median tax bill at $7,160. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Merrimack, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Merrimack Assessed Value
$368,100
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 Merrimack, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03054 | $217,300 | $285,600 | $368,100 | $445,700 | $528,800 |
Source: Ownwell
Property Tax Bills Across Merrimack, New Hampshire
In Merrimack, 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 and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Merrimack, the median home price is $368,100, which serves as a baseline for calculating taxes. Property tax bills can vary significantly; for instance, the tax bill for the 25th percentile is $5,551, while the 75th percentile sees a tax bill of $8,672. At the higher end, the 90th percentile tax bill reaches $10,287. These figures illustrate the range of property tax obligations for different homeowners based on property values. Compared to the national median property tax rate of 0.99%, Merrimack’s property tax bills are relatively high, reflecting the local tax rate and home values. This can significantly impact homeowners, influencing decisions on home buying, selling, and budgeting for annual expenses.
Average Merrimack Tax Bill
$7,160
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 Merrimack, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03054 | $4,226 | $5,551 | $7,160 | $8,672 | $10,287 |
Source: Ownwell