Newton, Texas Property Taxes
The median property tax rate in Newton, TX is 0.56%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Newton, the typical annual property tax bill reaches $190, significantly less than the national median of $2,690. Property taxes in Newton are calculated based on the tax assessed value, which typically falls below the market value due to various 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 vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton is 0.56%, lower 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 in the area at 0.56%. Understanding how these cities compare with Newton provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newton Tax Rate
0.56%
Average Newton County Tax Rate
0.66%
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 | 0.11% | 0.31% | 0.56% | 0.72% | 0.75% |
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 Newton 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. Being aware of these valuation processes in Newton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both found in zip code 75966, with a median tax bill of $190.
Average Newton Assessed Value
$51,547
Average Newton County Assessed Value
$54,464
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 | $7,789 | $17,288 | $51,547 | $109,699 | $185,508 |
Source: Ownwell
Property Tax Bills Across Newton, Texas
In Newton, TX, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county's appraisal district, which evaluates the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $51,547, homeowners can expect their tax bills to vary significantly. Factors such as property size, location, and any improvements made can influence the assessed value. Homeowners in Newton experience a range of tax bills, with the 25th percentile at $71 and the 75th percentile at $457. The 90th percentile sees tax bills as high as $763. These figures reflect the variability in property values and tax rates within the area. Compared to the national median property tax rate of 0.99%, Newton's rates can be considered relatively manageable, providing some relief to homeowners in the region.
Average Newton Tax Bill
$190
Average Newton County Tax Bill
$251
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 | $33 | $71 | $190 | $457 | $763 |
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 | |
|---|---|
| Newton Appraisal District | |
| Website | propaccess.trueautomation.com |