Friona, Texas Property Taxes
The median property tax rate in Friona, TX is 1.45%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Friona at $280,470, the typical annual property tax bill reaches $3,153, exceeding the national median of $2,690. Property taxes in Friona 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 Friona'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 Friona 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
Friona, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$4,067
$3,763
Ownwell’s Friona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Friona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Friona 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 Friona, Texas
Property taxes in Friona, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Friona is 1.45%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Friona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Friona 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 Friona's effective property tax rate to other counties in Texas and the national median. For comparison, the 79035 zip code has the highest median property tax rate of 1.45%, while the 79035 zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with Friona provides valuable insights into the varying tax landscape across Deaf Smith County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Friona Tax Rate
1.45%
Average Deaf Smith County Tax Rate
1.87%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Friona, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79035 | 0.37% | 1.03% | 1.45% | 1.54% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Friona, Texas
In Friona, 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 Deaf Smith 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 Friona, 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 Friona is $280,470, with tax bills ranging from $1,318 at the 25th percentile to $6,321 at the 90th percentile. The highest and lowest median tax bill in the region is $3,153, found in zip code 79035. Being aware of these valuation processes in Friona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Friona Assessed Value
$280,470
Average Deaf Smith County Assessed Value
$121,050
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Friona, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79035 | $139,120 | $217,410 | $280,470 | $332,472 | $412,785 |
Source: Ownwell
Property Tax Bills Across Friona, Texas
In Friona, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. This assessed value is a percentage of the market value, reflecting what the property could sell for under current market conditions. Various factors influence this valuation, including the property's size, location, and any improvements made. The property tax rate, set by local taxing authorities, is then applied to this assessed value. For homeowners in Friona, the median home price is $280,470. Depending on where their property falls in the valuation spectrum, homeowners can expect tax bills ranging from $1,318 at the 25th percentile to $6,321 at the 90th percentile. The median tax bill in the area stands at $3,153, which is significantly higher than the national median property tax rate of 0.99%. These taxes fund essential services such as public schools, infrastructure, and emergency services, directly affecting the community's quality of life.
Average Friona Tax Bill
$3,153
Average Deaf Smith County Tax Bill
$2,120
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Friona, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79035 | $858 | $1,318 | $3,153 | $4,161 | $6,321 |
Source: Ownwell