Property Taxes in New Hampshire's Lake Region
Benjamin Franklin once wrote, "In this world nothing can be said to be certain, except death and taxes.”
Property tax rates are very important to consider because they are one of the four elements that comprise mortgage payments. But unlike a mortgage expenses like principal, interest and mortgage insurance, property taxes never go away, even after the home is paid off.
Generally, the higher the tax rate, the lower the amount of mortgage principal you can borrow.
Following are 2018 property tax rates for towns in and around New Hampshire's Lake's Region.
Property tax rates are multiplied by "mills," a figure that represents every $1,000 of a property's assessed value.
In order to estimate your annual tax rate:
Example:
Belmont’s 2018 property tax rate is $29.25 per mill (thousand dollars of property value), while Moultonborough’s rate is $7.72.
So a $250,000 house in Moultonborough would have an annual property tax of about $1,930.00, while a house of the same value in Belmont would cost about $7,312.50 per year in taxes ($250,000 divided by $1,000 = 250 mills. 250 mills times $29.25 = $7,312.50. 250 mills times $7.72 = $1,930 in annual property taxes).
Pro Tip: Like interest rates, tax rates affect both how much you can borrow and your monthly payment. The lower the tax rate, the more home you can buy.
Check out this chart that shows property tax rates around the Lakes Region:
Property tax rates are very important to consider because they are one of the four elements that comprise mortgage payments. But unlike a mortgage expenses like principal, interest and mortgage insurance, property taxes never go away, even after the home is paid off.
Generally, the higher the tax rate, the lower the amount of mortgage principal you can borrow.
Following are 2018 property tax rates for towns in and around New Hampshire's Lake's Region.
Property tax rates are multiplied by "mills," a figure that represents every $1,000 of a property's assessed value.
In order to estimate your annual tax rate:
- divide your overall home price by $1,000
- multiply that number by the tax rate
Example:
Belmont’s 2018 property tax rate is $29.25 per mill (thousand dollars of property value), while Moultonborough’s rate is $7.72.
So a $250,000 house in Moultonborough would have an annual property tax of about $1,930.00, while a house of the same value in Belmont would cost about $7,312.50 per year in taxes ($250,000 divided by $1,000 = 250 mills. 250 mills times $29.25 = $7,312.50. 250 mills times $7.72 = $1,930 in annual property taxes).
Pro Tip: Like interest rates, tax rates affect both how much you can borrow and your monthly payment. The lower the tax rate, the more home you can buy.
Check out this chart that shows property tax rates around the Lakes Region:
|
Alexandria
Alton Belmont Bridgewater Bristol Center Harbor Gilford Gilmanton Holderness Laconia Meredith Moultonborough New Hampton Ossipee Sanbornton Sandwich Tilton Tuftonboro Wolfeboro |
$22.78
$13.99 $29.25 $9.48 $21.80 $14.34 $17.04 $25.34 $12.87 $20.85 $15.62 $7.72 $17.87 $20.80 $19.32 $14.60 $22.33 $11.18 $15.80 |
