Junction, Texas Property Taxes
The median property tax rate in Junction, TX is 0.86%, which is lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value in Junction of $173,760, the typical annual property tax bill comes to $1,430, significantly less than the national median of $2,690. Property taxes in Junction are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Junction's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Junction or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Junction, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,494
$1,383
Ownwell’s Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Junction 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 Junction, Texas
Property taxes in Junction, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Junction is 0.86%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Junction 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 Junction's effective property tax rate to other counties in Texas and the national median. For comparison, the 76849 zip code has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Junction provides valuable insights into the varying tax landscape across Edwards County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Junction Tax Rate
0.86%
Average Edwards County Tax Rate
1.44%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Junction, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76849 | 0.78% | 0.83% | 0.86% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Junction, Texas
In Junction, 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 Edwards 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 Junction, 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 Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 76849 has the highest and lowest median tax bill at $1,430.
Average Junction Assessed Value
$173,760
Average Edwards County Assessed Value
$71,862
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Junction, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76849 | $48,919 | $80,228 | $173,760 | $276,418 | $548,812 |
Source: Ownwell
Property Tax Bills Across Junction, Texas
In Junction, located in Edwards County, TX, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county's appraisal district, which evaluates the market value of properties within the region. This valuation considers factors such as the property's location, size, and condition. Once the market value is established, the property tax rate, set by local taxing authorities, is applied to this assessed value to determine the annual tax bill. For homeowners in Junction, the median home price is $173,760. With a tax rate that can vary, the property tax bills range significantly. At the 25th percentile, homeowners might see a tax bill around $1,306, while those at the 75th percentile could face a bill as high as $4,331. The highest tax bills, at the 90th percentile, can reach up to $5,805. Compared to the national median property tax rate of 0.99%, these figures highlight the variability and potential financial impact on homeowners in Junction.
Average Junction Tax Bill
$1,430
Average Edwards County Tax Bill
$806
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Junction, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76849 | $935 | $1,306 | $1,430 | $4,331 | $5,805 |
Source: Ownwell