Hill, New Hampshire Property Taxes
The median property tax rate in Hill, NH is 2.60%, 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 Hill, the typical annual property tax bill reaches $4,331, exceeding the national median of $2,690. Property taxes in Hill 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 Hill'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 Hill 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
Hill, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.6%
Estimate Property Tax Bill
$4,326
Ownwell’s HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HILL 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 Hill, New Hampshire
Property taxes in HILL, New Hampshire, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in HILL is 2.60%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within HILL set these rates annually, and they can vary significantly across different neighborhoods. Each year, HILL 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 HILL's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03243 zip code has the highest median property tax rate of 2.60%, while the same zip code also has the lowest median tax rate of 2.60%. Understanding how these cities compare with HILL provides valuable insights into the varying tax landscape across Merrimack, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hill Tax Rate
2.60%
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 Hill, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03243 | 2.60% | 2.60% | 2.60% | 2.60% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Hill, New Hampshire
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hill, NH. 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 Hill, 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 Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Hill, the zip code with the highest median tax bill is 03243, with a median tax bill of $4,331. Conversely, the zip code with the lowest median tax bill is also 03243, with the same median tax bill of $4,331.
Average Hill Assessed Value
$166,400
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 Hill, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03243 | $76,280 | $129,633 | $166,400 | $217,393 | $261,173 |
Source: Ownwell
Property Tax Bills Across Hill, New Hampshire
In HILL, located in Merrimack County, NH, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the city's tax assessor and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the size of the property, its location, and any improvements or renovations made. Homeowners in HILL can expect a wide range of tax bills. For instance, the 25th percentile tax bill is $3,374, while the 75th percentile reaches $5,659, and the 90th percentile is as high as $6,798. These property taxes significantly impact homeowners, as they must budget for these annual expenses. Compared to the national median property tax rate of 0.99%, HILL's property tax bills can be relatively high, affecting overall affordability and financial planning for residents.
Average Hill Tax Bill
$4,331
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 Hill, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03243 | $1,985 | $3,374 | $4,331 | $5,659 | $6,798 |
Source: Ownwell