Commerce, Texas Property Taxes
The median property tax rate in Commerce, TX is 1.82%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Commerce, the typical annual property tax bill reaches $2,503, slightly below the national median of $2,690. Property taxes in Commerce 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 Commerce'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 Commerce 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
Commerce, 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 Commerce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Commerce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Commerce 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 Commerce, Texas
Property taxes in Commerce, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Commerce is 1.82%, significantly higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Commerce set these rates annually, and they can vary significantly across different neighborhoods. Each year, Commerce 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 Commerce's effective property tax rate to other counties in Texas and the national median. For comparison, the 75428 zip code has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these cities compare with Commerce provides valuable insights into the varying tax landscape across Delta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Commerce Tax Rate
1.82%
Average Delta County Tax Rate
2.34%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Commerce, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75428 | 0.73% | 1.28% | 1.82% | 2.46% | 2.46% |
Source: Ownwell
Property Tax Assessment Values Across Commerce, Texas
In Commerce, 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 Delta 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 Commerce, 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. Being aware of these valuation processes in Commerce helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Commerce is $184,760, with the highest median tax bill at $2,503 in the 75428 zip code, and the lowest median tax bill also at $2,503 in the same zip code.
Average Commerce Assessed Value
$184,760
Average Delta County Assessed Value
$122,915
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Commerce, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75428 | $37,260 | $91,115 | $184,760 | $320,305 | $534,770 |
Source: Ownwell
Property Tax Bills Across Commerce, Texas
In Commerce, located in Delta County, TX, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. Homeowners in Commerce can expect property tax bills to vary significantly depending on the value of their homes. For instance, the median home price in Commerce is $184,760. Tax bills can range widely; for example, those in the 25th percentile pay around $1,453, while those in the 75th percentile pay approximately $4,668. At the higher end, the 90th percentile sees tax bills as high as $7,484. These figures highlight how the assessed value and applicable tax rates can lead to substantial differences in tax obligations. The highest and lowest median tax bills in Commerce are both recorded at $2,503, which aligns closely with the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners' annual expenses, emphasizing the importance of understanding local property tax assessments and rates.
Average Commerce Tax Bill
$2,503
Average Delta County Tax Bill
$2,570
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Commerce, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75428 | $661 | $1,453 | $2,503 | $4,668 | $7,484 |
Source: Ownwell