Wilmot, New Hampshire Property Taxes
The median property tax rate in Wilmot, NH is 2.13%, 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 Wilmot, the typical annual property tax bill reaches $6,014, exceeding the national median of $2,690. Property taxes in Wilmot 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 Wilmot'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 Wilmot 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
Wilmot, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.13%
Estimate Property Tax Bill
$5,960
Ownwell’s Wilmot Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilmot with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilmot 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 Wilmot, New Hampshire
Property taxes in Wilmot, New Hampshire, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilmot is 2.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wilmot set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilmot 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 Wilmot's effective property tax rate to other regions in New Hampshire and the national median. For comparison, the zip code 03287 has both the highest and lowest median property tax rate of 2.13%, reflecting the uniformity within the area. Understanding how these cities compare with Wilmot 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 Wilmot Tax Rate
2.13%
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 Wilmot, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03287 | 2.13% | 2.13% | 2.13% | 2.13% | 2.42% |
Source: Ownwell
Property Tax Assessment Values Across Wilmot, New Hampshire
In Wilmot, 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 Wilmot, 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 Wilmot helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wilmot is $6,014, found in the 03287 zip code.
Average Wilmot Assessed Value
$279,800
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 Wilmot, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03287 | $160,460 | $217,800 | $279,800 | $366,246 | $493,101 |
Source: Ownwell
Property Tax Bills Across Wilmot, New Hampshire
In Wilmot, located in Merrimack County, NH, property tax bills are calculated based on the assessed value of homes. The assessed value is determined by local government assessors who evaluate property characteristics and market conditions. Homeowners in this region face a significant tax burden, with tax bills ranging from $4,668 at the 25th percentile to $10,613 at the 90th percentile. The median home price in Wilmot stands at $279,800, which is a critical factor in determining the tax bill. Several elements influence the tax bill, including property size, location, and any improvements made to the home. These factors collectively determine the assessed value, which is then multiplied by the local tax rate to calculate the final bill. This process ensures that property taxes are proportionate to the value of the property, but it can also lead to substantial annual expenses for homeowners. For instance, the median tax bill in Wilmot is notably higher than the national median property tax rate of 0.99%, reflecting the region's higher property values and tax rates.
Average Wilmot Tax Bill
$6,014
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 Wilmot, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03287 | $3,472 | $4,668 | $6,014 | $7,948 | $10,613 |
Source: Ownwell