Oak Point, Texas Property Taxes
The median property tax rate in Oak Point, TX is 1.85%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Oak Point, the typical annual property tax bill reaches $960, which is below the national median of $2,690. Property taxes in Oak Point 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 Oak Point'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 Oak Point 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
Oak Point, 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 Oak Point, Texas Tax Savings
Ownwell’s Oak Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak Point to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Oak Point. 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 Oak Point, Texas
Property taxes in Oak Point, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Point is 1.85%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Oak Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Point 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 Oak Point's effective property tax rate to other counties in Texas and the national median. For comparison, the 75068 zip code has the highest median property tax rate of 1.85%, while the 75068 zip code has the lowest median tax rate of 1.85%. Understanding how these cities compare with Oak Point 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 Oak Point Tax Rate
1.85%
Average Denton County Tax Rate
1.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Point, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75068 | 0.86% | 1.38% | 1.85% | 1.85% | 1.85% |
Source: Ownwell
$1,148
Average Oak Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Oak Point, Texas
In Oak Point, 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 Oak Point, 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. For instance, the highest median tax bill in Oak Point is $960 in the 75068 zip code, while the lowest median tax bill is also $960 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oak Point Assessed Value
$58,905
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 Oak Point, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75068 | $31,080 | $40,757 | $58,905 | $130,446 | $364,124 |
Source: Ownwell
$1,148
Average Oak Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Oak Point, Texas
In Oak Point, Denton County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of the property. The local tax rate is then applied to this assessed value to calculate the tax bill. For instance, with a median home price of $58,905, homeowners can expect varying tax bills. The 25th percentile tax bill is around $668, while the 75th percentile reaches $1,923, and the 90th percentile can be as high as $6,447. These property taxes significantly impact homeowners, often straining household budgets. This is where Ownwell steps in to help. By providing expert property tax appeal and exemption services, Ownwell can assist homeowners in reducing their assessed property values, thereby lowering their tax bills. With a deep understanding of local tax regulations and a proven track record, Ownwell ensures homeowners in Oak Point can achieve substantial savings on their property taxes.
Average Oak Point Tax Bill
$960
Average Denton County Tax Bill
$7,425
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Point, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75068 | $349 | $668 | $960 | $1,923 | $6,447 |
Source: Ownwell
$1,148
Average Oak Point 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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