Property taxes are a vital source of revenue for local governments and can significantly impact homeowners’ budgets. Having a clear understanding of New Hampshire property tax rates can help homeowners make informed decisions about their properties and minimize their tax burdens. This can include appealing their assessed value, taking advantage of exemptions and deductions, or moving to a more affordable area.
Property tax rates vary in New Hampshire from town to town because of differing appraisal processes. Local assessors conduct annual appraisals of property to determine its value and then use a ratio to calculate the real estate tax rate. For example, a home in Manchester might have a higher market value than a comparable home in Concord because the city has a lower property tax ratio.
The property tax rate is usually set in the fall, and property owners receive two bills a year. The first bill is based on half last year’s property taxes, and the second reflects the new property tax rate. Some towns in New Hampshire have very high property taxes, while others have low taxes.
New Hampshire Property Tax Due Dates
The tax year in New Hampshire runs from April 1st through March 31st. Property taxes are billed semiannually, with the first half billing being mailed in May and due around July 1st each year. The second billing is sent after the tax rate is set in the fall and is figured by multiplying the new tax rate by your property’s assessed value, minus the payment made on the first bill.
All bills are mailed to the last known address. They are payable by check or credit card and are due 30 DAYS FROM BILL DUE DATE. Interest is charged on all unpaid balances at 8% per annum. If you are unable to pay your taxes by the due date, please contact the Collector’s office for options.
The Town does not report tax delinquencies to credit agencies. However, mortgage companies and banks that hold escrow for taxes may do so. This information could be used to determine your ability to qualify for a loan or other credit. If you are a senior citizen or disabled, you may be eligible for a deferral of property taxes.