Newton, Texas Property Taxes
The median property tax rate in Newton, TX is 1.00%, slightly above the national median of 0.99%, yet lower than the Texas state median of 1.67%. With a median home value of $145,393 in Newton, the typical annual property tax bill amounts to $1,102, which is below the national median of $2,690. Property taxes in Newton are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Newton'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 Newton 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
Newton, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Newton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton 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 Newton, Texas
Property taxes in Newton, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton is 1.00%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Newton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newton 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 Newton's effective property tax rate to other counties in Texas and the national median. For comparison, the 75966 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Newton provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newton Tax Rate
1.00%
Average Jasper County Tax Rate
1.09%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75966 | 0.26% | 0.62% | 1.00% | 1.08% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Newton, Texas
In Newton, Texas, 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 Jasper 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 Newton, 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. For instance, the zip code 75966 has the highest and lowest median tax bill at $1,102. Being aware of these valuation processes in Newton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Newton Assessed Value
$145,393
Average Jasper County Assessed Value
$100,074
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75966 | $92,605 | $98,400 | $145,393 | $254,254 | $309,645 |
Source: Ownwell
Property Tax Bills Across Newton, Texas
In Newton, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Newton, understanding the factors that influence their property tax bills is crucial. These factors include the market value of the property, any applicable exemptions, and the specific tax rate set by the local taxing authorities. Homeowners in Newton experience a wide range of property tax bills. The 25th percentile tax bill is $604, while the 75th percentile reaches $2,003, and the 90th percentile can go as high as $3,344. These figures highlight the variability in property tax burdens depending on property values and exemptions. Compared to the national median property tax rate of 0.99%, Newton's tax rates can significantly impact homeowners' finances, especially those with higher-valued properties. Understanding these components helps homeowners in Newton plan and budget for their annual property tax obligations effectively.
Average Newton Tax Bill
$1,102
Average Jasper County Tax Bill
$781
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Newton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75966 | $533 | $604 | $1,102 | $2,003 | $3,344 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Jasper Appraisal District | |
| Website | propaccess.trueautomation.com |