Mc Leod, Texas Property Taxes
The median property tax rate in Mc Leod, TX is 1.21%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $39,770 in Mc Leod, the typical annual property tax bill is $446, significantly below the national median of $2,690. Property taxes in Mc Leod are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Mc Leod'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 Mc Leod 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
Mc Leod, 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 MC LEOD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC LEOD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC LEOD 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 Mc Leod, Texas
Property taxes in Mc Leod, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Leod is 1.21%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Mc Leod set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Leod 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 Mc Leod's effective property tax rate to other counties in Texas and the national median. For comparison, the 75565 zip code has the highest median property tax rate of 1.21%, while the 75565 zip code has the lowest median tax rate of 1.21%. Understanding how these cities compare with Mc Leod provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Leod Tax Rate
1.21%
Average Cass County Tax Rate
1.43%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Leod, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75565 | 1.11% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Mc Leod, Texas
In MC LEOD, 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 Cass 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 MC LEOD, 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 MC LEOD helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $446.00 in zip code 75565, while the lowest median tax bill is also $446.00 in the same zip code.
Average Mc Leod Assessed Value
$39,770
Average Cass County Assessed Value
$69,430
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Leod, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75565 | $8,328 | $19,130 | $39,770 | $85,590 | $123,432 |
Source: Ownwell
Property Tax Bills Across Mc Leod, Texas
In MC LEOD, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in MC LEOD is $39,770. Property taxes are then applied to this assessed value using a specific tax rate set by local taxing authorities. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in MC LEOD experience varying tax bills. For example, the 25th percentile tax bill is $201, indicating that 25% of homeowners pay this amount or less annually. On the other hand, the 75th percentile tax bill is $912, while the 90th percentile reaches $1,423. The highest median tax bill in the area is $446, found in the zip code 75565. These property taxes significantly impact homeowners, as they contribute to local services like schools, emergency services, and infrastructure, ensuring community well-being and property value stability.
Average Mc Leod Tax Bill
$446
Average Cass County Tax Bill
$984
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Leod, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75565 | $109 | $201 | $446 | $912 | $1,423 |
Source: Ownwell