Springfield, New Hampshire Property Taxes
The median property tax rate in Springfield, NH is 2.05%, 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 Springfield at $253,200, the typical annual property tax bill reaches $5,201, exceeding the national median of $2,690. Property taxes in Springfield 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 Springfield'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 Springfield 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
Springfield, 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 Springfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springfield 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 Springfield, New Hampshire
Property taxes in Springfield, New Hampshire, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springfield is 2.05%, significantly higher than the U.S. national median of 0.99%. Local government entities within Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springfield 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 Springfield's effective property tax rate to other counties in New Hampshire and the national median. For comparison, the 03284 zip code has both the highest and lowest median property tax rate of 2.05%. Understanding how these cities compare with Springfield provides valuable insights into the varying tax landscape across Sullivan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Springfield Tax Rate
2.05%
Average Sullivan County Tax Rate
2.36%
Average New Hampshire Tax Rate
1.91%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springfield, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03284 | 2.05% | 2.05% | 2.05% | 2.05% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Springfield, New Hampshire
In Springfield, 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 Sullivan 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 Springfield, 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. The median home price in Springfield is $253,200, with tax bills ranging from $3,704 at the 25th percentile to $9,809 at the 90th percentile. Springfield's zip code 03284 has the highest and lowest median tax bill at $5,201. 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 Springfield, New Hampshire
Source: Ownwell
$53,778
$228,739
$403,700
Average Springfield Assessed Value
$253,200
Average Sullivan County Assessed Value
$185,800
Average New Hampshire Assessed Value
$299,765
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Springfield, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03284 | $111,440 | $180,300 | $253,200 | $339,000 | $477,541 |
Source: Ownwell
Property Tax Bills Across Springfield, New Hampshire
In Springfield, Sullivan County, NH, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined based on a percentage of the market value of the property. Local tax rates are set annually and can vary, impacting the overall tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For instance, the median home price in Springfield is $253,200. Homeowners in the 25th percentile can expect an annual tax bill around $3,704, whereas those in the 75th percentile face bills closer to $6,963. At the 90th percentile, tax bills can soar to $9,809, demonstrating a significant range within the area. Comparatively, the national median property tax rate is 0.99%, making Springfield's tax rates noteworthy. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly affecting the quality of life for homeowners in the region.
Average Springfield Tax Bill
$5,201
Average Sullivan County Tax Bill
$4,808
Average New Hampshire Tax Bill
$5,895
Average United States Tax Bill
$2,690
Property Tax Bills Across Springfield, New Hampshire
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 03284 | $2,310 | $3,704 | $5,201 | $6,963 | $9,809 |
Source: Ownwell