Myra, Texas Property Taxes
The median property tax rate in Myra, TX is 1.42%, significantly higher than the national median of 0.99% yet lower than the Texas state median of 1.67%. With a median home value of $107,229 in Myra, the typical annual property tax bill amounts to $1,097, falling below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Myra'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 Myra or another part of Cooke County, a deep understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Myra, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$1,523
$1,409
Ownwell’s Myra Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate annual property taxes in Myra with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Myra to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more detailed trends at a neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by Cooke County for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Myra, Texas
Property taxes in Myra, Texas, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Myra is 1.42%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Myra set these rates annually, and they can vary significantly across different neighborhoods. Each year, Myra 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 Myra's effective property tax rate to other counties in Texas and the national median. For comparison, the 76253 zip code has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Myra provides valuable insights into the varying tax landscape across Cooke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Myra Tax Rate
1.42%
Average Cooke County Tax Rate
1.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Myra, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76253 | 0.86% | 1.03% | 1.42% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Myra, Texas
In Myra, 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 Cooke 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 Myra, 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 instance, the highest median tax bill in Myra is $1,097 in the 76253 zip code, while the lowest median tax bill is also $1,097 in the same zip code. 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 Myra helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Myra Assessed Value
$107,229
Average Cooke County Assessed Value
$215,126
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Myra, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76253 | $22,844 | $50,028 | $107,229 | $167,163 | $234,632 |
Source: Ownwell
Property Tax Bills Across Myra, Texas
Property tax bills in Myra, located in Cooke County, TX, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is derived from the market value of the home, which in Myra has a median price of $107,229. Various factors such as property size, location, and improvements can influence this assessed value. Homeowners in Myra can expect their property tax bills to range significantly. The 25th percentile tax bill is around $594, while the 75th percentile reaches up to $2,075, and the 90th percentile climbs to $2,853. These figures show a wide range of tax burdens, reflecting the diversity in property values and assessments within the city. Compared to the national median property tax rate of 0.99%, Myra's property taxes can be relatively high, impacting homeowners' annual expenses. Understanding how these taxes are calculated helps homeowners budget effectively and anticipate their financial obligations.
Average Myra Tax Bill
$1,097
Average Cooke County Tax Bill
$2,905
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Myra, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76253 | $289 | $594 | $1,097 | $2,075 | $2,853 |
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 | |
|---|---|
| Cooke Appraisal District | |
| Website | propaccess.trueautomation.com |