Paducah, Texas Property Taxes
The median property tax rate in Paducah, TX is 2.34%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Paducah, the typical annual property tax bill reaches $738, which is below the national median of $2,690. Property taxes in Paducah are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Paducah'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 Paducah or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paducah, 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 Paducah Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Paducah using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paducah 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 Paducah, Texas
Property taxes in Paducah, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paducah is 2.34%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Paducah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paducah 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 Paducah's effective property tax rate to other counties in Texas and the national median. For comparison, the 79248 zip code has the highest median property tax rate of 2.34%, while the 79248 zip code also has the lowest median tax rate of 2.34%. Understanding how these cities compare with Paducah provides valuable insights into the varying tax landscape across Cottle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paducah Tax Rate
2.34%
Average Cottle County Tax Rate
2.34%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paducah, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79248 | 1.89% | 2.03% | 2.34% | 2.34% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Paducah, Texas
In Paducah, 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 Cottle 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 Paducah 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 Paducah 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 $738, found in the 79248 zip code, which also has the lowest median tax bill at the same value.
Average Paducah Assessed Value
$35,360
Average Cottle County Assessed Value
$36,440
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paducah, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79248 | $4,580 | $17,135 | $35,360 | $55,820 | $88,535 |
Source: Ownwell
Property Tax Bills Across Paducah, Texas
In Paducah, TX, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the Cottle County Appraisal District, which evaluates the market value of homes in the area. Once the market value is established, local tax rates are applied to calculate the final tax bill. These rates are set by various taxing entities, including the county, school districts, and other local authorities. For homeowners in Paducah, the median home price is $35,360. Property tax bills can vary significantly within the city, with the 25th percentile tax bill at $372 and the 75th percentile at $1,187. The highest median tax bill in the area is $738, which is relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can be advantageous for homeowners, making it more affordable to own property in Paducah. However, it's important for homeowners to stay informed about their property's assessed value and any changes in local tax rates to manage their expenses effectively.
Average Paducah Tax Bill
$738
Average Cottle County Tax Bill
$747
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Paducah, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79248 | $105 | $372 | $738 | $1,187 | $1,827 |
Source: Ownwell