Silverton, Texas Property Taxes
The median property tax rate in Silverton, TX is 1.74%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Silverton, the typical annual property tax bill reaches $823, which is below the national median of $2,690. Property taxes in Silverton 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 Silverton'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 Silverton 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
Silverton, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$922
$853
Ownwell’s Silverton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silverton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silverton 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 Silverton, Texas
Property taxes in Silverton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silverton is 1.74%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Silverton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silverton 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 Silverton's effective property tax rate to other counties in Texas and the national median. For comparison, the 79257 zip code has the highest median property tax rate of 1.74%, while the same zip code also has the lowest median tax rate of 1.74%. Understanding how these cities compare with Silverton provides valuable insights into the varying tax landscape across Briscoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Silverton Tax Rate
1.74%
Average Briscoe County Tax Rate
1.81%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silverton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79257 | 1.06% | 1.39% | 1.74% | 2.26% | 2.26% |
Source: Ownwell
Property Tax Assessment Values Across Silverton, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Silverton, 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 Briscoe 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 Silverton, 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 zip code with the highest median tax bill is 79257, with a median tax bill of $823. Being aware of these valuation processes in Silverton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Silverton Assessed Value
$53,010
Average Briscoe County Assessed Value
$52,300
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Silverton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79257 | $14,648 | $24,260 | $53,010 | $88,590 | $127,466 |
Source: Ownwell
Property Tax Bills Across Silverton, Texas
In Silverton, located in Briscoe County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $53,010, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors influencing the property tax bill include the home's assessed value, local tax rates, and any exemptions for which the homeowner may qualify. In Silverton, the tax bill at the 25th percentile is $417, while at the 75th percentile, it rises to $1,375. The 90th percentile tax bill can go up to $2,063, indicating a broad range of potential tax liabilities. Compared to the national median property tax rate of 0.99%, Silverton's rates can have a significant impact on homeowners, potentially affecting their annual financial planning and overall affordability of homeownership in the area.
Average Silverton Tax Bill
$823
Average Briscoe County Tax Bill
$831
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Silverton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79257 | $262 | $417 | $823 | $1,375 | $2,063 |
Source: Ownwell