Chester, New Hampshire Property Taxes
The median property tax rate in Chester, NH is 2.32%, 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 Chester at $358,100, the typical annual property tax bill reaches $8,308, far exceeding the national median of $2,690. Property taxes in Chester 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 Chester'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 Chester 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
Chester, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.32%
Estimate Property Tax Bill
$8,308
Ownwell’s Chester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chester 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 Chester, New Hampshire
Property taxes in Chester, 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 Chester is 2.32%, significantly higher than the U.S. national median of 0.99%. Local government entities within Chester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chester 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 Chester's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03036 zip code has the highest median property tax rate of 2.32%, while the 03036 zip code also has the lowest median tax rate of 2.32%. Understanding how these cities compare with Chester provides valuable insights into the varying tax landscape across Rockingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chester Tax Rate
2.32%
Average Rockingham County Tax Rate
1.90%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chester, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03036 | 2.32% | 2.32% | 2.32% | 2.32% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Chester, New Hampshire
In Chester, 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 Rockingham 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 Chester, 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. Chester's median home price is $358,100, and the tax bill ranges from $7,000 at the 25th percentile to $11,404 at the 90th percentile. The zip code 03036 has both the highest and lowest median tax bill at $8,308. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Chester, New Hampshire
Source: Ownwell
$275,100
$1,110,250
$1,945,400
Average Chester Assessed Value
$358,100
Average Rockingham County Assessed Value
$373,900
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chester, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03036 | $253,760 | $302,000 | $358,100 | $425,050 | $491,575 |
Source: Ownwell
Property Tax Bills Across Chester, New Hampshire
In Chester, located in Rockingham County, NH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate various factors including the property's size, location, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $358,100, homeowners can expect a tax bill that varies significantly. The 25th percentile tax bill is around $7,000, while those in the 75th percentile face bills closer to $9,857. At the 90th percentile, tax bills can reach up to $11,404. Interestingly, the highest and lowest median tax bills in Chester are both $8,308, based on the zip code 03036. These property tax rates can have a considerable impact on homeowners, influencing decisions on buying, selling, or renovating properties. Comparing this to the national median property tax rate of 0.99%, Chester's rates are notably higher, reflecting the local market and municipal budget requirements.
Average Chester Tax Bill
$8,308
Average Rockingham County Tax Bill
$6,989
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Chester, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03036 | $5,887 | $7,000 | $8,308 | $9,857 | $11,404 |
Source: Ownwell