Newark, Wise County, Texas Property Taxes

Name: Property Tax Bills Across Newark, Wise County, Texas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Newark, TX effective property tax rate: 1.40%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Newark, TX home value: $293,106
Median annual Newark, TX tax bill: $3,543, $1,143 higher than the national median property tax bill of $2,400.

How are property taxes in Wise County calculated?

Property taxes in Newark, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Newark’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Newark, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Newark, Wise County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.4%

Estimate Property Tax Bill

$4,103

$3,808

Ownwell’s Newark Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Newark with just two data points.

By entering your property's estimated assessed value, our calculator applies Newark’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Wise County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Newark, Wise County, Texas

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Newark in Wise County, Texas, features a median property tax rate of 1.40%. This rate stands above the national median property tax rate of 1.02%, reflecting the unique fiscal demands and property values within the region. Despite this, the property tax rate in Newark remains consistent with the highest and lowest rates within its own zip code, illustrating limited variance within this specific area.

When comparing with other cities in Texas, Newark’s effective property tax rate aligns with the state’s median, offering a glimpse into the broader fiscal landscape of Texas. Understanding these rates can help property owners better anticipate their annual tax obligations and potentially identify opportunities for tax appeals or exemptions.

Property Tax Rates Across Newark, Wise County, Texas

Source: Ownwell

0.76%

1.20%

1.64%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Newark Tax Rate

1.40%

Median Effective Wise County Tax Rate

1.21%

Median Effective Texas Tax Rate

1.67%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Newark, Wise County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
76071	0.93%	1.20%	1.40%	1.40%	1.78%

Source: Ownwell

Property Tax Assessment Values Across Newark, Wise County, Texas

When examining property taxes in Newark, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wise County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices: In Wise County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Newark. For example, the median home price in Newark is $293,106, with tax bills ranging significantly across the county. Zip code 76071 has the highest median home price at $293,106.

Property Tax Assessment Values Across Newark, Wise County, Texas

Source: Ownwell

$130,683

$494,470

$858,257

Median Newark Market Value

$293,106

Median Wise County Market Value

$280,537

Median Texas Market Value

$247,950

Median United States Market Value

$235,294

Property Tax Assessment Values Across Newark, Wise County, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
76071	$55,030	$123,738	$293,106	$350,594	$451,939

Source: Ownwell

Property Tax Bills Across Newark, Wise County, Texas

In Newark, Wise County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by local tax authorities. The assessed value is then multiplied by the local tax rate to determine the tax bill. With a median home price of $293,106, homeowners in Newark face a property tax rate that results in a tax bill significantly higher than the national median of $2,400. The tax bill in Newark can range from the 25th percentile at $1,554 to the 90th percentile at $6,177, with the median tax bill being $3,543. This can place a substantial financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax liabilities. By analyzing property assessments and identifying discrepancies, Ownwell can assist in lowering tax bills, providing significant savings for homeowners in Newark.

Property Tax Bills Across Newark, Wise County, Texas

Source: Ownwell

$1,474

$3,478

$5,482

Median Newark Tax Bill

$3,543

Median Wise County Tax Bill

$3,273

Median Texas Tax Bill

$3,971

Median United States Tax Bill

$2,400

Property Tax Bills Across Newark, Wise County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
76071	$620	$1,554	$3,543	$4,536	$6,177

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
Wise Appraisal District
Website	esearch.wise-cad.com