Wichita Falls, Texas Property Taxes
The median property tax rate in Wichita Falls, TX is 1.56%, considerably higher than the national median of 0.99% but slightly lower than the Texas state median of 1.67%. With the median home value in Wichita Falls at $261,760, the typical annual property tax bill reaches $4,148, significantly exceeding the national median of $2,690. Property taxes in Wichita Falls 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 Wichita Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wichita Falls 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
Wichita Falls, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$4,083
$3,778
Ownwell’s Wichita Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wichita Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wichita Falls 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 Wichita Falls, Texas
Property taxes in Wichita Falls, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wichita Falls is 1.56%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wichita Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wichita Falls 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 Wichita Falls' effective property tax rate to other counties in Texas and the national median. For comparison, the 76309 zip code has the highest median property tax rate of 1.78%, while 76310 has the lowest median tax rate of 1.42%. Understanding how these cities compare with Wichita Falls provides valuable insights into the varying tax landscape across Archer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wichita Falls Tax Rate
1.56%
Average Archer County Tax Rate
1.73%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wichita Falls, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76308 | 1.48% | 1.64% | 1.75% | 1.98% | 2.11% |
| 76309 | 1.78% | 1.78% | 1.78% | 1.78% | 1.78% |
| 76310 | 1.10% | 1.24% | 1.42% | 1.56% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Wichita Falls, Texas
In Wichita Falls, 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 Archer 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. 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 Wichita Falls is $4,536 in the 76308 zip code, while the lowest is $665 in the 76309 zip code. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wichita Falls Assessed Value
$261,760
Average Archer County Assessed Value
$147,930
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wichita Falls, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76308 | $158,464 | $216,512 | $251,220 | $328,085 | $414,898 |
| 76309 | $37,360 | $37,360 | $37,360 | $37,360 | $37,360 |
| 76310 | $75,328 | $176,955 | $270,830 | $451,140 | $630,650 |
Source: Ownwell
Property Tax Bills Across Wichita Falls, Texas
Property tax bills in Wichita Falls, located in Archer County, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of homes. Homeowners in Wichita Falls experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $2,789, while at the 75th percentile, it rises to $6,094. The 90th percentile tax bill reaches $8,552, highlighting the variability based on property values. In Wichita Falls, the highest median tax bill is $4,536 in the 76308 zip code, whereas the lowest median tax bill is $665 in the 76309 zip code. These figures illustrate how property location within the city can significantly impact the tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Wichita Falls residents may find their tax rates and bills vary widely, affecting their overall financial planning and homeownership costs.
Average Wichita Falls Tax Bill
$4,148
Average Archer County Tax Bill
$2,292
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wichita Falls, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76308 | $2,697 | $3,754 | $4,536 | $5,838 | $7,383 |
| 76309 | $665 | $665 | $665 | $665 | $665 |
| 76310 | $942 | $2,105 | $3,576 | $6,564 | $9,365 |
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 | |
|---|---|
| Archer Appraisal District | |
| Website | www.archercad.org |