Bangs, Texas Property Taxes
The median property tax rate in Bangs, TX is 0.65%, which is notably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Bangs at $332,760, the typical annual property tax bill amounts to $1,486, substantially below the national median of $2,690. Property taxes in Bangs are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Gaining a comprehensive understanding of Bangs' property tax system, exploring available exemptions, and identifying reduction opportunities can lead to significant annual savings. Whether you're in the heart of Bangs or another part of Coleman County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bangs, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$2,163
$2,001
Ownwell’s Bangs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bangs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bangs 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 Bangs, Texas
Property taxes in Bangs, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bangs is 0.65%, which is lower than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within Bangs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bangs 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 Bangs's effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 76823 has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Bangs provides valuable insights into the varying tax landscape across Coleman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bangs Tax Rate
0.65%
Average Coleman County Tax Rate
2.45%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bangs, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76823 | 0.21% | 0.32% | 0.65% | 1.14% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Bangs, Texas
In Bangs, 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 Coleman 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. Assessment notices in Bangs 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 Bangs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Bangs, the highest and lowest median tax bills are the same, both being $1,486 in the zip code 76823.
Average Bangs Assessed Value
$332,760
Average Coleman County Assessed Value
$44,875
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bangs, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76823 | $96,898 | $182,605 | $332,760 | $514,458 | $607,189 |
Source: Ownwell
Property Tax Bills Across Bangs, Texas
In Bangs, located in Coleman County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the home's market value, location, and any applicable exemptions play a crucial role in this calculation. For instance, the median home price in Bangs is $332,760, which can lead to varying tax bills. Homeowners in the 25th percentile might see tax bills around $1,000, while those in the 75th and 90th percentiles could face bills of $3,435 and $4,068, respectively. The highest median tax bill in the area is $1,486, which is significantly lower than the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners by affecting their annual budgeting and overall financial planning.
Average Bangs Tax Bill
$1,486
Average Coleman County Tax Bill
$898
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Bangs, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76823 | $606 | $1,000 | $1,486 | $3,435 | $4,068 |
Source: Ownwell