Sheridan, Texas Property Taxes
The median property tax rate in Sheridan, TX is 1.17%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $61,200 in Sheridan, the typical annual property tax bill amounts to $719, which is significantly less than the national median of $2,690. Property taxes in Sheridan are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Sheridan's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Grasping the intricacies of the local property tax system is beneficial whether you're residing in the heart of Sheridan or any other part of the city.
Last Updated June 14, 2024
Sheridan, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$716
$663
Ownwell’s Sheridan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sheridan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sheridan 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 Sheridan, Texas
Property taxes in Sheridan, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sheridan is 1.17%, higher than both the Texas state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Sheridan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sheridan 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 Sheridan's effective property tax rate to other counties in Texas and the national median. For comparison, the 77475 zip code has the highest median property tax rate of 1.17%, while the same 77475 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Sheridan provides valuable insights into the varying tax landscape across Colorado County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sheridan Tax Rate
1.17%
Average Colorado County Tax Rate
1.13%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sheridan, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77475 | 0.32% | 0.67% | 1.17% | 1.74% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Sheridan, Texas
In Sheridan, 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 Colorado 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 Sheridan, 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. For example, the median home price in Sheridan is $61,200, with tax bills ranging from $218 at the 25th percentile to $2,767 at the 90th percentile. The highest and lowest median tax bills are both $719 in the 77475 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sheridan Assessed Value
$61,200
Average Colorado County Assessed Value
$111,020
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sheridan, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77475 | $9,500 | $20,530 | $61,200 | $133,305 | $221,250 |
Source: Ownwell
Property Tax Bills Across Sheridan, Texas
In Sheridan, Colorado County, TX, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Sheridan is $61,200, which serves as the basis for tax assessments. Local tax authorities then apply the relevant tax rate to this assessed value to determine the annual property tax bill. Factors such as property size, location, and condition can influence the assessed value, leading to variations in tax bills. For instance, homeowners in Sheridan can expect to pay between $218 and $2,767 in property taxes, depending on where their property's assessed value falls within the spectrum. The 25th percentile tax bill is $218, while the 75th percentile reaches $1,625, and the 90th percentile climbs to $2,767. The highest and lowest median tax bills in the area both stand at $719, highlighting some consistency in tax obligations. Given the national median property tax rate of 0.99%, Sheridan's rates can be considered relatively moderate, impacting homeowners' annual financial planning.
Average Sheridan Tax Bill
$719
Average Colorado County Tax Bill
$1,356
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Sheridan, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77475 | $109 | $218 | $719 | $1,625 | $2,767 |
Source: 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 | |
|---|---|
| Colorado Appraisal District | |
| Website | propaccess.trueautomation.com |