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Facts & Figures - New Hampshire

According to New Hampshire Statute RSA 75, property taxes in The Granite State are levied by local municipalities on either an annual, semiannual, or quarterly basis. Assessed valuation of a property is based on 100% its fair market value according to state law. So, although state law dictates the assessed value be based on 100% fair market value, it is up to municipalities to reassess properties.

Tax rates change according to fluctuations in property value, and there is no cap to prevent property taxes from rising beyond a certain level each year. The tax rates that reflect this change are called equalized tax rates (ETR) and indicate the true market value of property located in all municipalities. These tax rates can be found on this site here and downloaded through this link as a Word document here.

New Hampshire imposes a state education tax $2.24 (in 2007) per $1,000 of total equalized valuation. For 2008, it is projected to be $2.14.

A Low and Moderate Income Homeowner’s Property Tax Relief program is available to qualified residents. Homeowners must reside in their property as of April 1 of the year in which the claim is made. Household income cannot exceed $20,000 (single) or $40,000 (couple). Go here to learn more about this program.

Property taxes can be deferred for individuals 65 years of age or older but at the expense of an annual interest rate of 5%. The deferred property tax cannot exceed more than 85% of the equity value of the property.

New Hampshire Department of Revenue Administration

 

 



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