Property Taxes - FAQ's
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When are property taxes due?
Property taxes are due twice each year – in July and December. Invoices are mailed 30 days prior to the due date to the homeowner of record. If for whatever reason, the property owner fails to receive a tax bill, it is the property owner’s responsibility to inquire as to the amount as well as pay the tax before the date of delinquency.
What constitutes a tax year?
The tax year begins on April 1st and ends March 31st of the next year. So, the July bill is paying the taxes for April 1st through September 30th, and the December bill covers October 1st through March 31st.
Does the Tax Collector send a copy of my property tax bill to my mortgage company or bank?
No. If you have an escrow account for your property taxes, check with your mortgage company or bank to see if they need a copy of your tax bill in order to make a payment on your behalf.
Can I make prepayments or partial payments on my property tax bill?
Yes, both are accepted. Prepayments are held as credits and applied to reduce your next property tax bill. Partial payments on overdue property tax bills help reduce the amount of interest you pay.
What happens if a lien is placed on my property for delinquent taxes?
A lien is recorded at the Carroll County Registry of Deeds. According to State law (RSA 80:87), interest on the lien is assessed at 18% per annum, on a per diem basis, and additional costs will be incurred for the costs of searching for and notifying those with a ‘vested interest’ in your property – typically mortgage companies. Two years from the date of the lien, the town may begin the process of deeding your property. If a lien has been placed on your property, you are encouraged to contact the Tax Collector if you have questions about releasing the lien and avoiding the deeding of your property.
Does the Town place lien information on my credit report?
No, the Town does not report information about your lien to credit companies. However, if you apply for a loan, make a large credit purchase, or attempt a refinancing, those who research your credit history may obtain this information from the Registry of Deeds and may list this information on your credit report.
How are my property taxes calculated?
Your July property tax bill is an estimated amount because the tax rate for the year is not set until October of each year. It is generally one half of your previous year’s tax bill. The December bill reflects the new tax rate for the year. The rate is expressed as a percentage per $1,000.00 of your property’s value as of April 1st. Based on the new tax rate, your full-year bill is calculated, and you are billed for the difference between the July (estimated) bill and the full-year amount.