Newcastle, Texas Property Taxes
The median property tax rate in Newcastle, TX is 1.89%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Newcastle, the typical annual property tax bill reaches $758, which is below the national median of $2,690. Property taxes in Newcastle are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Newcastle'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 Newcastle 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
Newcastle, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Newcastle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newcastle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newcastle 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 Newcastle, Texas
Property taxes in Newcastle, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newcastle is 1.89%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Newcastle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newcastle 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 Newcastle's effective property tax rate to other counties in Texas and the national median. For comparison, the 76372 zip code has both the highest and lowest median property tax rate of 1.89%. Understanding how these cities compare with Newcastle provides valuable insights into the varying tax landscape across Young County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newcastle Tax Rate
1.89%
Average Young County Tax Rate
2.25%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newcastle, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76372 | 0.36% | 1.03% | 1.89% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Newcastle, Texas
In Newcastle, Texas, 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 Young 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 Newcastle, 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 Newcastle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Newcastle is $50,580, with tax bills ranging from $263 at the 25th percentile to $3,127 at the 90th percentile. The highest and lowest median tax bill in the area both stand at $758 in the 76372 zip code.
Average Newcastle Assessed Value
$50,580
Average Young County Assessed Value
$91,060
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newcastle, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76372 | $3,822 | $16,178 | $50,580 | $171,788 | $489,890 |
Source: Ownwell
Property Tax Bills Across Newcastle, Texas
In Newcastle, located in Young County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Newcastle is $50,580, and the property tax rate is determined by local taxing authorities. Homeowners can expect their tax bills to vary widely depending on the assessed value of their property. For example, the 25th percentile tax bill is $263, while the 75th percentile tax bill reaches $1,559, and the 90th percentile tax bill can be as high as $3,127. This variation illustrates how the assessed value significantly impacts the overall tax burden on homeowners. The highest and lowest median tax bills in the area both stand at $758, indicating some consistency in the tax rate application within the zip code 76372. Compared to the national median property tax rate of 0.99%, Newcastle's property taxes can be relatively affordable, but this depends heavily on the specific value of each property. Homeowners need to be aware of these factors to anticipate their yearly tax obligations accurately.
Average Newcastle Tax Bill
$758
Average Young County Tax Bill
$1,705
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Newcastle, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76372 | $71 | $263 | $758 | $1,559 | $3,127 |
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 | |
|---|---|
| Young Appraisal District | |
| Website | esearch.youngcad.org |