Newton, Alabama Property Taxes
The median property tax rate in Newton, AL is 0.52%, slightly higher than the state median of 0.47% but well below the national median of 0.99%. With the median home value in Newton at $89,800, the typical annual property tax bill is $434, significantly lower than 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 such as those for primary residences and agricultural properties. Understanding Newton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Newton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newton, Alabama Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$467
$433
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, Alabama
Property taxes in Newton, Alabama, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton is 0.52%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Newton set these rates annually, and they can vary 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 Alabama and the national median. For comparison, the zip code 36352 has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Newton provides valuable insights into the varying tax landscape across Geneva County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newton Tax Rate
0.52%
Average Geneva County Tax Rate
0.35%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newton, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36352 | 0.20% | 0.22% | 0.52% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Newton, Alabama
In Newton, Alabama, 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 Geneva 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. For instance, the highest median tax bill in the area is $434 in the 36352 zip code, while the lowest median tax bill is also $434 in the same zip code.
Average Newton Assessed Value
$89,800
Average Geneva County Assessed Value
$100,900
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newton, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36352 | $38,960 | $56,800 | $89,800 | $201,900 | $298,980 |
Source: Ownwell
Property Tax Bills Across Newton, Alabama
In Newton, 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 Geneva County tax assessor and is typically a percentage of the market value of the home. Homeowners in Newton can expect their tax bills to vary significantly depending on their property's assessed value and the specific tax rate applied. For instance, the median home price in Newton is $89,800, and the property tax bills range from the 25th percentile at $234 to the 90th percentile at $1,193. The highest median tax bill in the area is $434, which is also the lowest, indicating a uniformity in tax assessments within the zip code 36352. Compared to the national median property tax rate of 0.99%, Newton's rates can be considered relatively moderate, offering some relief to homeowners. Understanding these factors helps homeowners in Newton budget more effectively and anticipate their annual property tax liabilities.
Average Newton Tax Bill
$434
Average Geneva County Tax Bill
$373
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Newton, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36352 | $149 | $234 | $434 | $660 | $1,193 |
Source: Ownwell