Crosbyton, Texas Property Taxes
The median property tax rate in Crosbyton, TX is 2.41%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Crosbyton at $47,523, the typical annual property tax bill reaches $1,064, exceeding the national median of $2,690. Property taxes in Crosbyton 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 Crosbyton'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 Crosbyton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crosbyton, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.41%
Estimate Property Tax Bill
$1,145
$1,060
Ownwell’s Crosbyton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crosbyton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crosbyton 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 Crosbyton, Texas
Property taxes in Crosbyton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crosbyton is 2.41%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Crosbyton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crosbyton 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 Crosbyton's effective property tax rate to other counties in Texas and the national median. For comparison, the 79322 zip code has the highest median property tax rate of 2.41%, while the same zip code also has the lowest median tax rate of 2.41%. Understanding how these areas compare with Crosbyton provides valuable insights into the varying tax landscape across Crosby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crosbyton Tax Rate
2.41%
Average Crosby County Tax Rate
2.27%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crosbyton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79322 | 1.71% | 2.09% | 2.41% | 2.50% | 2.50% |
Source: Ownwell
Property Tax Assessment Values Across Crosbyton, Texas
In Crosbyton, 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 Crosby 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 Crosbyton, 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. The median home price in Crosbyton is $47,523, with tax bills ranging from $520 at the 25th percentile to $3,219 at the 90th percentile. The zip code 79322 has both the highest and lowest median tax bill at $1,064. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Crosbyton Assessed Value
$47,523
Average Crosby County Assessed Value
$53,460
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crosbyton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79322 | $7,932 | $21,767 | $47,523 | $90,176 | $156,975 |
Source: Ownwell
Property Tax Bills Across Crosbyton, Texas
In Crosbyton, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. For homeowners in Crosbyton, the median home price is $47,523. The tax rate applied to this assessed value can lead to varying tax bills. For instance, the 25th percentile tax bill is around $520, while the 75th percentile reaches $1,964. At the higher end, the 90th percentile tax bill can be as much as $3,219. Several factors influence these tax bills, including property location, local government budgets, and the specific tax rates set by local authorities. Homeowners might experience fluctuations in their tax bills due to changes in assessed property values or adjustments in the tax rate. Compared to the national median property tax rate of 0.99%, Crosbyton's tax bills reflect the unique economic conditions and fiscal policies of the area. This system ensures that property taxes are proportionate to the value of each home, impacting homeowners differently based on their property's assessed value.
Average Crosbyton Tax Bill
$1,064
Average Crosby County Tax Bill
$1,091
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Crosbyton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79322 | $177 | $520 | $1,064 | $1,964 | $3,219 |
Source: Ownwell