Somerset, Texas Property Taxes
The median property tax rate in Somerset, TX is 1.42%, which is considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $103,875 in Somerset, the typical annual property tax bill amounts to $1,244, which is below the national median of $2,690. Property taxes in Somerset 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 Somerset'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 Somerset or another part of Atascosa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Somerset, 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 Somerset Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Somerset with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Somerset 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 Somerset, Texas
Property taxes in Somerset, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Somerset is 1.42%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Somerset set these rates annually, and they can vary significantly across different neighborhoods. Each year, Somerset 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 Somerset's effective property tax rate to other counties in Texas and the national median. For comparison, the 78069 zip code has the highest median property tax rate of 1.42%, while the same 78069 zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Somerset provides valuable insights into the varying tax landscape across Atascosa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Somerset Tax Rate
1.42%
Average Atascosa County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Somerset, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78069 | 0.52% | 0.52% | 1.42% | 1.57% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Somerset, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Somerset, Texas. 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 Atascosa 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 Somerset, 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. Somerset's median home price is $103,875, with tax bills ranging from $405 at the 25th percentile to $4,431 at the 90th percentile. The highest and lowest median tax bills are both found in the 78069 zip code, at $1,244. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Somerset Assessed Value
$103,875
Average Atascosa County Assessed Value
$120,550
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Somerset, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78069 | $22,293 | $47,958 | $103,875 | $210,160 | $341,916 |
Source: Ownwell
Property Tax Bills Across Somerset, Texas
In Somerset, located in Atascosa 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 Somerset is $103,875. Homeowners in this region can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $405, while the 75th percentile tax bill can reach up to $2,783, and the 90th percentile peaks at $4,431. The assessed value is determined by the county appraisal district, which considers factors such as the property's market value, improvements, and any applicable exemptions. The local tax rate is then applied to this assessed value to determine the final tax bill. This system ensures that homeowners with higher-valued properties pay more in property taxes, while those with lower-valued properties pay less. Compared to the national median property tax rate of 0.99%, Somerset's property tax rates reflect the local economic conditions and funding needs for public services.
Average Somerset Tax Bill
$1,244
Average Atascosa County Tax Bill
$1,803
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Somerset, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78069 | $147 | $405 | $1,244 | $2,783 | $4,431 |
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 | |
|---|---|
| Atascosa Appraisal District | |
| Website | propaccess.trueautomation.com |