Richwood, Texas Property Taxes
The median property tax rate in Richwood, TX is 1.88%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Richwood at $208,495, the typical annual property tax bill reaches $3,518, exceeding the national median of $2,690. Property taxes in Richwood are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Richwood'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 Richwood 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
Richwood, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$3,920
$3,627
$1,148
Average Richwood, Texas Tax Savings
Ownwell’s Richwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richwood to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Richwood. 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 Richwood, Texas
Property taxes in Richwood, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richwood is 1.88%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Richwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richwood 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 Richwood's effective property tax rate to other counties in Texas and the national median. For comparison, the 77515 zip code has the highest median property tax rate of 2.09%, while the 77531 zip code has the lowest median tax rate of 1.82%. Understanding how these cities compare with Richwood provides valuable insights into the varying tax landscape across Brazoria County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Richwood Tax Rate
1.88%
Average Brazoria County Tax Rate
1.96%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77515 | 1.87% | 2.00% | 2.09% | 2.12% | 2.26% |
| 77531 | 0.88% | 1.33% | 1.82% | 2.08% | 2.48% |
| 77566 | 1.41% | 1.91% | 2.01% | 2.04% | 2.48% |
Source: Ownwell
$1,148
Average Richwood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Richwood, Texas
In Richwood, 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 Brazoria 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 Richwood, 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 Richwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Brazoria County is $10,114 in the 77515 zip code, while the lowest is $3,135 in the 77531 zip code.
Average Richwood Assessed Value
$208,495
Average Brazoria County Assessed Value
$236,820
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Richwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77515 | $366,945 | $409,882 | $513,000 | $557,965 | $636,315 |
| 77531 | $96,578 | $151,750 | $187,470 | $241,020 | $280,500 |
| 77566 | $228,722 | $237,012 | $251,870 | $266,692 | $281,201 |
Source: Ownwell
$1,148
Average Richwood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Richwood, Texas
In Richwood, Brazoria County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. The median home price in Richwood is $208,495. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as local tax rates, property exemptions, and market conditions are considered in this calculation. Homeowners in Richwood can face significant variations in their tax bills, with the 25th percentile paying around $2,269 and the 90th percentile paying up to $6,689 annually. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax burden. By analyzing comparable properties, market trends, and specific homeowner circumstances, Ownwell identifies opportunities to challenge over-assessments and secure exemptions. This can result in substantial savings, ensuring homeowners are not overpaying on their property taxes. With expert guidance, Ownwell simplifies the appeal process, making it easier for homeowners to achieve fair and accurate tax bills.
Average Richwood Tax Bill
$3,518
Average Brazoria County Tax Bill
$4,022
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Richwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77515 | $7,382 | $8,355 | $10,114 | $11,445 | $13,503 |
| 77531 | $1,096 | $1,994 | $3,135 | $4,303 | $5,358 |
| 77566 | $3,551 | $4,502 | $4,983 | $5,574 | $6,280 |
Source: Ownwell
$1,148
Average Richwood Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Brazoria Appraisal District | |
| Website | esearch.brazoriacad.org |
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