Newcomb, Tennessee Property Taxes
The median property tax rate in Newcomb, TN is 0.51%, significantly lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $53,700 in Newcomb, the typical annual property tax bill is $267, well below the national median of $2,690. Property taxes in Newcomb are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Newcomb'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 Newcomb or another part of the city, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newcomb, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$274
Ownwell’s Newcomb Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newcomb with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newcomb 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 Newcomb, Tennessee
Property taxes in Newcomb, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newcomb is 0.51%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Newcomb set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newcomb 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 Newcomb's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37819 zip code has both the highest and lowest median property tax rate in the region, standing at 0.51%. Understanding how these cities compare with Newcomb provides valuable insights into the varying tax landscape across Campbell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newcomb Tax Rate
0.51%
Average Campbell County Tax Rate
0.51%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newcomb, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37819 | 0.50% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Newcomb, Tennessee
In Newcomb, Tennessee, 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 Campbell 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 Newcomb, 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 Newcomb helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $267 in the 37819 zip code, while the lowest is also $267 in the same zip code.
Average Newcomb Assessed Value
$53,700
Average Campbell County Assessed Value
$89,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newcomb, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37819 | $17,260 | $31,375 | $53,700 | $90,675 | $135,260 |
Source: Ownwell
Property Tax Bills Across Newcomb, Tennessee
Property tax bills in Newcomb, located in Campbell County, TN, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Newcomb is $53,700. Property taxes are then determined by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For example, the 25th percentile tax bill in Newcomb is $159, while the 75th percentile tax bill reaches $453, with the 90th percentile hitting $686. This range indicates that homeowners with higher-valued properties or fewer exemptions will pay more in property taxes. These property tax bills directly impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, Newcomb's property tax rates offer a relatively affordable option for residents, making it an attractive area for potential homebuyers.
Average Newcomb Tax Bill
$267
Average Campbell County Tax Bill
$481
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Newcomb, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37819 | $87 | $159 | $267 | $453 | $686 |
Source: Ownwell