Gilmanton, New Hampshire Property Taxes
The median property tax rate in Gilmanton, NH is 2.08%, 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 Gilmanton at $353,900, the typical annual property tax bill reaches $7,361, exceeding the national median of $2,690. Property taxes in Gilmanton 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 Gilmanton'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 Gilmanton 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
Gilmanton, 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 Gilmanton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two key data points. Simply input your property's estimated assessed value, and the calculator will apply the median tax rate in Gilmanton to estimate your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in trends at a more granular level, localized information is available further down the page. Your property’s assessed value is the amount determined by Merrimack County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Gilmanton, New Hampshire
Property taxes in Gilmanton, 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 Gilmanton is 2.08%, significantly higher than the U.S. national median of 0.99%. Local government entities within Gilmanton set these rates annually, and they can vary across different neighborhoods. Each year, Gilmanton 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 Gilmanton's effective property tax rate to other areas and the national median. For comparison, the zip code 03237 has both the highest and lowest median property tax rate of 2.08%. Understanding how these areas compare with Gilmanton provides valuable insights into the varying tax landscape across Merrimack County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilmanton Tax Rate
2.08%
Average Merrimack County Tax Rate
2.44%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilmanton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03237 | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Gilmanton, New Hampshire
In Gilmanton, 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 Merrimack 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 Gilmanton, 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. For instance, the highest median tax bill in Gilmanton is $7,361 in the 03237 zip code, which is also the lowest median 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 Gilmanton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Gilmanton, New Hampshire
Source: Ownwell
$10,000
$280,850
$551,700
Average Gilmanton Assessed Value
$353,900
Average Merrimack County Assessed Value
$264,400
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilmanton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03237 | $353,900 | $353,900 | $353,900 | $353,900 | $353,900 |
Source: Ownwell
Property Tax Bills Across Gilmanton, New Hampshire
In Gilmanton, located in Merrimack County, NH, property tax bills are determined through a combination of the assessed value of the property and the local tax rate. The assessed value is an estimation of the property's market value, which is periodically evaluated by the local assessor's office. This value is then multiplied by the local tax rate to calculate the annual tax bill. Gilmanton's property tax rate is notably high, with the median tax bill reaching $7,361, which significantly surpasses the national median property tax rate of 0.99%. The consistency of this figure across various percentiles indicates a stable and uniformly applied rate within the area. Homeowners in Gilmanton can expect their property tax bills to be a substantial part of their annual expenses, impacting their overall cost of living. This can influence decisions on home ownership, investments in property improvements, and long-term financial planning. Understanding these factors is crucial for homeowners to manage their finances effectively and anticipate future tax obligations.
Average Gilmanton Tax Bill
$7,361
Average Merrimack County Tax Bill
$6,194
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilmanton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03237 | $7,361 | $7,361 | $7,361 | $7,361 | $7,361 |
Source: Ownwell