Kress, Texas Property Taxes
The median property tax rate in Kress, TX is 1.94%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $64,030 in Kress, the typical annual property tax bill amounts to $1,241, which, while below the national median of $2,690, still represents a notable expense for homeowners. Property taxes in Kress are based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Kress's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kress or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kress, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$1,242
$1,149
Ownwell’s Kress Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kress with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kress 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 Kress, Texas
Property taxes in Kress, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kress is 1.94%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Kress set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kress 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 Kress's effective property tax rate to other counties in Texas and the national median. For comparison, the 79052 ZIP code has the highest median property tax rate of 1.94%, while the 79052 ZIP code also has the lowest median tax rate of 1.94%. Understanding how these cities compare with Kress provides valuable insights into the varying tax landscape across Castro County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kress Tax Rate
1.94%
Average Castro County Tax Rate
2.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kress, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79052 | 1.94% | 1.94% | 1.94% | 1.94% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Kress, Texas
In Kress, 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 Castro 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 Kress, 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 Kress helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 79052 in Kress has the highest and lowest median tax bill at $1,241.
Average Kress Assessed Value
$64,030
Average Castro County Assessed Value
$49,105
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kress, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79052 | $64,030 | $64,030 | $64,030 | $64,030 | $64,030 |
Source: Ownwell
Property Tax Bills Across Kress, Texas
In Kress, located in Castro County, TX, property tax bills are calculated based on the assessed value of the property, which is determined by the county appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Kress, the median home price stands at $64,030, and the property tax rate is in line with the local regulations. Factors considered in the assessment include the property's market value, location, and any improvements or modifications made to the property. In Kress, the median property tax bill is consistent at $1,241, regardless of the percentile, indicating a uniform tax rate application across various property values. This tax bill can significantly impact homeowners, as it represents an essential recurring expense that must be budgeted for annually. Comparatively, the property tax rate in Kress is higher than the national median property tax rate of 0.99%, which can influence decisions related to property ownership and investment in the area.
Average Kress Tax Bill
$1,241
Average Castro County Tax Bill
$1,097
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Kress, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79052 | $1,241 | $1,241 | $1,241 | $1,241 | $1,241 |
Source: Ownwell