Newbern, Tennessee Property Taxes
The median property tax rate in Newbern, TN is 0.76%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $82,300 in Newbern, the typical annual property tax bill amounts to $693, significantly below the national median of $2,690. Property taxes in Newbern 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 Newbern'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 Newbern 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
Newbern, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$625
$580
Ownwell’s Newbern Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Newbern with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newbern to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Newbern, Tennessee
Property taxes in Newbern, Tennessee, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Newbern is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Newbern set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newbern 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 Newbern's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38059 has the same median property tax rate of 0.76%. Understanding how these cities compare with Newbern provides valuable insights into the varying tax landscape across Gibson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newbern Tax Rate
0.76%
Average Gibson County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newbern, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38059 | 0.76% | 0.76% | 0.76% | 0.76% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Newbern, Tennessee
In Newbern, 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 Gibson 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 Newbern, 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. The median home price in Newbern is $82,300, with tax bills ranging from $407 at the 25th percentile to $1,815 at the 90th percentile. 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 Newbern helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Newbern Assessed Value
$82,300
Average Gibson County Assessed Value
$77,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newbern, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38059 | $33,650 | $51,600 | $82,300 | $145,275 | $238,630 |
Source: Ownwell
Property Tax Bills Across Newbern, Tennessee
In Newbern, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Newbern is $82,300. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $407 and the 75th percentile at $1,127. For those in the 90th percentile, the tax bill can be as high as $1,815. The tax rate in Newbern is influenced by the broader county tax policies of Gibson County. The highest and lowest median tax bills in the area both stand at $693, reflecting a relatively stable tax environment within the specified zip code of 38059. Compared to the national median property tax rate of 0.99%, Newbern's rates can be seen as moderate. These taxes fund essential public services such as schools, roads, and emergency services, impacting homeowners by ensuring community infrastructure and services are well-maintained.
Average Newbern Tax Bill
$693
Average Gibson County Tax Bill
$563
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Newbern, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38059 | $260 | $407 | $693 | $1,127 | $1,815 |
Source: Ownwell