Hampstead, New Hampshire Property Taxes
The median property tax rate in Hampstead, NH is 2.37%, 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 Hampstead at $334,500, the typical annual property tax bill reaches $7,952, exceeding the national median of $2,690. Property taxes in Hampstead 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 Hampstead'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 Hampstead 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
Hampstead, 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 Hampstead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hampstead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hampstead 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 Hampstead, New Hampshire
Property taxes in Hampstead, 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 Hampstead is 2.37%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Hampstead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hampstead 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 Hampstead's effective property tax rate to other areas in Rockingham County and the national median. For comparison, the 03841 zip code has the highest median property tax rate of 2.37%, while the same zip code also has the lowest median tax rate of 2.37%. Understanding how these areas compare with Hampstead 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 Hampstead Tax Rate
2.37%
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 Hampstead, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03841 | 2.37% | 2.37% | 2.37% | 2.37% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Hampstead, New Hampshire
In Hampstead, 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 Hampstead, 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 Hampstead helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hampstead are both $7,952, found in the 03841 zip code.
Property Tax Assessment Values Across Hampstead, New Hampshire
Source: Ownwell
$275,100
$1,110,250
$1,945,400
Average Hampstead Assessed Value
$334,500
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 Hampstead, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03841 | $9,700 | $203,100 | $334,500 | $409,350 | $485,100 |
Source: Ownwell
Property Tax Bills Across Hampstead, New Hampshire
In Hampstead, NH, property tax bills are determined by assessing the property's market value and applying the local tax rate. The assessed value is an estimate of the property's current market value, which is then multiplied by the tax rate set by the local government. For example, with a median home price of $334,500, the tax bill can vary significantly. Homeowners in the 25th percentile might see bills around $4,781, while those in the 75th percentile could pay up to $9,706. The top 10% of homeowners face even higher bills, reaching approximately $11,510. Several factors influence these variations, including property size, location, and improvements. High property taxes can impact homeowners by increasing the cost of ownership, potentially affecting affordability and resale value. Compared to the national median property tax rate of 0.99%, Hampstead's rates can be considerably higher, reflecting the region's property values and local government funding needs. This makes understanding and managing property taxes crucial for homeowners in Hampstead.
Average Hampstead Tax Bill
$7,952
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 Hampstead, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03841 | $337 | $4,781 | $7,952 | $9,706 | $11,510 |
Source: Ownwell