Pelham, New Hampshire Property Taxes
The median property tax rate in Pelham, NH is 1.74%, 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 Pelham at $478,650, the typical annual property tax bill reaches $8,339, significantly exceeding the national median of $2,690. Property taxes in Pelham 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 Pelham'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 Pelham 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
Pelham, 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 Pelham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pelham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pelham 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 Pelham, New Hampshire
Property taxes in Pelham, 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 Pelham is 1.74%, significantly higher than the U.S. national median of 0.99%. Local government entities within Pelham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pelham 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 Pelham's effective property tax rate to other areas in Hillsborough County and the national median. For comparison, the highest and lowest median property tax rates in Hillsborough County are both 1.74%, found in the zip code 03076. Understanding how these figures compare with Pelham 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 Pelham Tax Rate
1.74%
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 Pelham, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03076 | 1.74% | 1.74% | 1.74% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Pelham, New Hampshire
In Pelham, 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 Pelham, 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 Pelham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Pelham is $8,339 in the 03076 zip code, which also has the lowest median tax bill of $8,339.
Property Tax Assessment Values Across Pelham, New Hampshire
Source: Ownwell
$132,100
$14,406,050
$28,680,000
Average Pelham Assessed Value
$478,650
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 Pelham, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03076 | $320,350 | $381,025 | $478,650 | $610,275 | $712,250 |
Source: Ownwell
Property Tax Bills Across Pelham, New Hampshire
In Pelham, NH, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the town's assessor and reflects the market value of your property. Once the assessed value is established, it is multiplied by the town’s tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the size of the property, location, and any improvements made. For example, Pelham homeowners in Hillsborough County face a median home price of $478,650. The tax bills can vary significantly, with the 25th percentile tax bill at $6,638 and the 75th percentile reaching $10,630. Comparatively, the highest median tax bill in the area is $8,339, which is significantly above the national median property tax rate of 0.99%. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting homeowners' monthly expenses and overall cost of living.
Average Pelham Tax Bill
$8,339
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 Pelham, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03076 | $5,583 | $6,638 | $8,339 | $10,630 | $12,406 |
Source: Ownwell