Hampton, New Hampshire Property Taxes
The median property tax rate in Hampton, NH is 1.58%, considerably higher than the national median of 0.99% but lower than the New Hampshire state median of 1.91%. With the median home value in Hampton at $337,900, the typical annual property tax bill reaches $5,352, far exceeding the national median of $2,690. Property taxes in Hampton 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 Hampton'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 Hampton 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
Hampton, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$5,339
Ownwell’s Hampton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hampton to give you an estimate of 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 Hampton, New Hampshire
Property taxes in Hampton, 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 Hampton is 1.58%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Hampton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hampton 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 Hampton's effective property tax rate to other areas in New Hampshire and the national median. For comparison, the zip code 03842 has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these areas compare with Hampton 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 Hampton Tax Rate
1.58%
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 Hampton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03842 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Hampton, New Hampshire
In Hampton, 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 Hampton, 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 is $5,352 in the 03842 zip code, while the lowest median tax bill is also $5,352 in the same zip code. 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 Hampton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hampton, New Hampshire
Source: Ownwell
$275,100
$1,110,250
$1,945,400
Average Hampton Assessed Value
$337,900
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 Hampton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03842 | $114,100 | $248,525 | $337,900 | $445,000 | $588,400 |
Source: Ownwell
Property Tax Bills Across Hampton, New Hampshire
In Hampton, 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 the local tax assessor, who evaluates the property's market value and applies an assessment ratio. The local tax rate is set by the municipal government and is applied to the assessed value to calculate the annual tax bill. Several factors influence the assessed value, including the home's size, age, location, and any improvements made. Homeowners in Hampton pay a median property tax bill of $5,352, with the 25th percentile tax bill at $3,944 and the 75th percentile reaching $7,050. At the 90th percentile, the tax bill can rise to $9,321. This variability significantly impacts homeowners, as those with higher-valued properties or recent improvements may face steeper tax bills. Comparatively, Hampton's property tax rate is higher than the national median of 0.99%, reflecting the local government's revenue needs and the area's property values. This higher rate can influence decisions on home purchases and improvements, making it crucial for homeowners to understand how their tax bills are determined.
Average Hampton Tax Bill
$5,352
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 Hampton, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03842 | $1,826 | $3,944 | $5,352 | $7,050 | $9,321 |
Source: Ownwell