Lake Dallas, Texas Property Taxes
The median property tax rate in Lake Dallas, TX is 1.68%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lake Dallas at $340,201, the typical annual property tax bill reaches $5,827, significantly exceeding the national median of $2,690. Property taxes in Lake Dallas 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 Lake Dallas'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 Lake Dallas 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
Lake Dallas, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Lake Dallas, Texas Tax Savings
Ownwell’s Lake Dallas Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake Dallas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Dallas to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities and demonstrates how Ownwell can help reduce property taxes in Lake Dallas. If you’re interested in exploring trends at a neighborhood level, scroll down for more localized information. Your property’s assessed value is determined by the county for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Lake Dallas, Texas
Property taxes in Lake Dallas, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Dallas is 1.68%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lake Dallas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Dallas 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 Lake Dallas's effective property tax rate to other counties in Texas and the national median. For comparison, the 75065 zip code has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these cities compare with Lake Dallas provides valuable insights into the varying tax landscape across Denton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Dallas Tax Rate
1.68%
Average Denton County Tax Rate
1.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Dallas, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75065 | 1.36% | 1.46% | 1.68% | 1.98% | 1.98% |
Source: Ownwell
$1,148
Average Lake Dallas Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lake Dallas, Texas
In Lake Dallas, 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 Denton 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 Lake Dallas, 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. The median home price in Lake Dallas is $340,201, with tax bills varying significantly. For instance, the 25th percentile tax bill is $4,173, while the 75th percentile tax bill is $7,266. The highest median tax bill recorded is $5,827 in the 75065 zip code, which is also the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lake Dallas Assessed Value
$340,201
Average Denton County Assessed Value
$444,000
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Dallas, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75065 | $117,781 | $255,000 | $340,201 | $439,286 | $565,142 |
Source: Ownwell
$1,148
Average Lake Dallas Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lake Dallas, Texas
In Lake Dallas, located in Denton County, TX, property tax bills are determined based on the assessed value of your home. This value is then multiplied by the local tax rate. With a median home price of $340,201, homeowners can expect tax bills to vary significantly. For instance, the 25th percentile tax bill stands at $4,173, while the 75th percentile reaches $7,266, and the 90th percentile goes up to $8,608. The highest median tax bill in the area is $5,827, tied to the zip code 75065. Several factors influence your property tax bill, including property size, location, and local government budgets. These taxes can be a significant burden for homeowners, impacting their overall financial health. Ownwell specializes in property tax appeals and exemptions, helping homeowners potentially reduce their tax bills. By analyzing your property’s assessed value and leveraging local tax laws, Ownwell can identify opportunities for savings, ensuring you pay only your fair share.
Average Lake Dallas Tax Bill
$5,827
Average Denton County Tax Bill
$7,425
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Dallas, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75065 | $1,981 | $4,173 | $5,827 | $7,266 | $8,608 |
Source: Ownwell
$1,148
Average Lake Dallas Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Denton Appraisal District | |
| Phone | (940) 349-3910 |
| Website | esearch.dentoncad.com |
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