Milton Mills, New Hampshire Property Taxes
The median property tax rate in Milton Mills, NH is 2.45%, significantly higher than both the national median of 0.99% and the New Hampshire state median of 1.91%. With a median home value of $211,000 in Milton Mills, the typical annual property tax bill reaches $5,166, far exceeding the national median of $2,690. Property taxes in Milton Mills are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Milton Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Milton Mills 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
Milton Mills, New Hampshire Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.45%
Estimate Property Tax Bill
$5,170
Ownwell’s Milton Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milton Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milton Mills 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 Milton Mills, New Hampshire
Property taxes in Milton Mills, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milton Mills is 2.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Milton Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milton Mills 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 Milton Mills' effective property tax rate to other areas in New Hampshire and the national median. For comparison, the 03852 zip code has the highest median property tax rate of 2.45%, while the same zip code also has the lowest median tax rate of 2.45%. Understanding how these areas compare with Milton Mills 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 Milton Mills Tax Rate
2.45%
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 Milton Mills, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03852 | 2.45% | 2.45% | 2.45% | 2.45% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Milton Mills, New Hampshire
In Milton Mills, 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 Milton Mills, 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 Milton Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the zip code with the highest median tax bill in Milton Mills is 03852, with a tax bill of $5,166, which is significantly above the national median property tax rate of 0.99%. Understanding these details can empower homeowners to make informed decisions about their property taxes.
Property Tax Assessment Values Across Milton Mills, New Hampshire
Source: Ownwell
$171,300
$291,125
$410,950
Average Milton Mills Assessed Value
$211,000
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 Milton Mills, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03852 | $128,520 | $160,150 | $211,000 | $250,276 | $290,534 |
Source: Ownwell
Property Tax Bills Across Milton Mills, New Hampshire
In Milton Mills, located in Strafford County, NH, property tax bills are calculated based on the assessed value of a property. The local tax rate is applied to this assessed value to determine the annual tax bill. Key factors influencing the tax bill include the property's assessed value, which is determined by local assessors, and the tax rate set by the local government. For homeowners in Milton Mills, the median home price stands at $211,000. The property tax rate in this region can result in a significant tax bill. For instance, the tax bill at the 25th percentile is $3,921, while at the 75th percentile, it rises to $6,127. At the 90th percentile, homeowners can expect to pay around $7,113 annually. These property tax bills can have a substantial impact on homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, the tax rates in Milton Mills are considerably higher, reflecting the local government's revenue needs and budgetary requirements.
Average Milton Mills Tax Bill
$5,166
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 Milton Mills, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03852 | $3,146 | $3,921 | $5,166 | $6,127 | $7,113 |
Source: Ownwell