Madbury, New Hampshire Property Taxes
The median property tax rate in Madbury, NH is 2.70%, 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 Madbury at $347,697, the typical annual property tax bill reaches $9,602, significantly exceeding the national median of $2,690. Property taxes in Madbury 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 Madbury'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 Madbury or another part of Strafford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Madbury, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.7%
Estimate Property Tax Bill
$9,388
Ownwell’s Madbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Madbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Madbury 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 Madbury, New Hampshire
Property taxes in Madbury, New Hampshire, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madbury is 2.70%, significantly higher than both the New Hampshire state median and the U.S. national median of 0.99%. Local government entities within Madbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madbury 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 Madbury's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the ZIP code 03823 has the highest median property tax rate of 2.70%, while the same ZIP code also has the lowest median tax rate of 2.70%. Understanding how these cities compare with Madbury provides valuable insights into the varying tax landscape across Strafford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madbury Tax Rate
2.70%
Average Strafford County Tax Rate
2.42%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madbury, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03823 | 2.70% | 2.70% | 2.70% | 2.70% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Madbury, New Hampshire
In Madbury, 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 Strafford 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 Madbury, 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 Madbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Madbury stands at $347,697, with the highest and lowest median tax bills both recorded at $9,602 in the 03823 zip code.
Average Madbury Assessed Value
$347,697
Average Strafford County Assessed Value
$262,600
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madbury, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03823 | $1,060 | $107,150 | $347,697 | $450,900 | $563,668 |
Source: Ownwell
Property Tax Bills Across Madbury, New Hampshire
In Madbury, located in Strafford County, NH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value, considering factors such as location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Madbury can expect varying tax bills depending on their property's assessed value. For instance, those at the 25th percentile typically see tax bills around $4,812, while those at the 75th percentile face bills approximately $12,302. The highest tax bills, at the 90th percentile, can reach up to $15,407. Comparatively, Madbury's median home price is $347,697, and the property tax rate significantly impacts the financial burden on homeowners. With the national median property tax rate at 0.99%, understanding how local rates and assessed values interplay is crucial for homeowners to anticipate their annual property tax obligations accurately.
Average Madbury Tax Bill
$9,602
Average Strafford County Tax Bill
$5,998
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Madbury, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03823 | $150 | $4,812 | $9,602 | $12,302 | $15,407 |
Source: Ownwell