Mont Vernon, New Hampshire Property Taxes
The median property tax rate in Mont Vernon, NH is 2.80%, 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 Mont Vernon at $321,785, the typical annual property tax bill reaches $8,978, far exceeding the national median of $2,690. Property taxes in Mont Vernon 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 Mont Vernon'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 Mont Vernon 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
Mont Vernon, 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 Mont Vernon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mont Vernon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mont Vernon 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 Mont Vernon, New Hampshire
Property taxes in Mont Vernon, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mont Vernon is 2.80%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mont Vernon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mont Vernon 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 Mont Vernon's effective property tax rate to other areas and the national median. For comparison, Mont Vernon has both the highest and lowest median property tax rate in Hillsborough County at 2.80%. Understanding how these figures compare with Mont Vernon 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 Mont Vernon Tax Rate
2.80%
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 Mont Vernon, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03057 | 2.80% | 2.80% | 2.80% | 2.80% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Mont Vernon, New Hampshire
In Mont Vernon, 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 Mont Vernon, 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 Mont Vernon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area both stand at $8,978, with the zip code 03057.
Property Tax Assessment Values Across Mont Vernon, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Mont Vernon Assessed Value
$321,785
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 Mont Vernon, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03057 | $193,104 | $255,480 | $321,785 | $402,030 | $478,903 |
Source: Ownwell
Property Tax Bills Across Mont Vernon, New Hampshire
In Mont Vernon, property tax bills are determined by assessing the value of a property and applying the local tax rate. The assessed value is based on the market value of the home, which in Mont Vernon has a median home price of $321,785. Local tax authorities calculate the property tax by multiplying the assessed value by the local tax rate. Homeowners in Mont Vernon can expect their tax bills to vary significantly, with the 25th percentile tax bill at $7,127 and the 75th percentile reaching $11,272. Some of the highest tax bills, in the 90th percentile, can go up to $13,424. These tax bills are considerably higher than the national median property tax rate of 0.99%. This substantial property tax burden can significantly impact homeowners, affecting their overall cost of living and financial planning. The highest and lowest median tax bills in Mont Vernon are both recorded at $8,978, which is notably higher than the national average, reflecting the region's higher property values and tax rates.
Average Mont Vernon Tax Bill
$8,978
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 Mont Vernon, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03057 | $5,412 | $7,127 | $8,978 | $11,272 | $13,424 |
Source: Ownwell