Covington, Newton County, Georgia Property Taxes
The median property tax rate in Covington, GA is 1.08%, aligning with the state median but notably higher than the national median of 0.99%. With a median home value of $205,100, the typical annual property tax bill in Covington reaches $2,143, which is below the national median of $2,690. Property taxes in Covington are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural lands. Understanding Covington'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 Covington or another part of Newton County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Covington, Newton County, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,215
$2,056
Ownwell’s Covington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Covington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Covington 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 Covington, Newton County, Georgia
Property taxes in Covington, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Covington is 1.08%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Covington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Covington 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 Covington's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30014 zip code has the highest median property tax rate of 1.09%, while the 30016 zip code has the lowest median tax rate of 1.07%. Understanding how these cities compare with Covington 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 Covington Tax Rate
1.08%
Average Newton County Tax Rate
1.07%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Covington, Newton County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30014 | 0.74% | 1.04% | 1.09% | 1.26% | 1.30% |
| 30016 | 0.76% | 1.04% | 1.07% | 1.10% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Covington, Newton County, Georgia
In Covington, Georgia, 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 Covington, 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 highest median tax bill in Covington is $2,153 in the 30016 zip code, while the lowest is $2,111 in the 30014 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Covington, Newton County, Georgia
Source: Ownwell
$105,600
$212,725
$319,850
Average Covington Assessed Value
$205,100
Average Newton County Assessed Value
$206,600
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Covington, Newton County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30014 | $72,800 | $126,600 | $198,350 | $273,300 | $354,200 |
| 30016 | $135,400 | $174,300 | $207,200 | $252,950 | $299,800 |
Source: Ownwell
Property Tax Bills Across Covington, Newton County, Georgia
In Covington, Newton County, GA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the market value. Once the assessed value is established, local tax rates are applied to calculate the tax bill. Covington’s property tax rates are influenced by local government budgets, school funding, and public services, making them crucial for community development. For example, with a median home price of $205,100, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $1,593, while those in the 75th percentile face about $2,743 annually. The 90th percentile sees tax bills reaching up to $3,410. In zip code 30016, the highest median tax bill is $2,153, whereas in zip code 30014, it’s slightly lower at $2,111. These variations can impact homeowners' financial planning and affordability, emphasizing the importance of understanding local property tax structures.
Average Covington Tax Bill
$2,143
Average Newton County Tax Bill
$2,153
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Covington, Newton County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30014 | $639 | $1,282 | $2,111 | $2,965 | $3,932 |
| 30016 | $1,094 | $1,729 | $2,153 | $2,663 | $3,159 |
Source: Ownwell