Red Oak, Texas Property Taxes
The median property tax rate in Red Oak, TX is 1.31%, slightly above the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $361,323 in Red Oak, the typical annual property tax bill amounts to $4,371, surpassing the national median of $2,690. Property taxes in Red Oak are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Red Oak'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 Red Oak 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
Red Oak, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$4,733
$4,380
$1,148
Average Red Oak, Texas Tax Savings
Ownwell’s RED OAK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RED OAK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RED OAK 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 RED OAK. 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 Red Oak, Texas
Property taxes in Red Oak, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Red Oak is 1.31%, higher than both the Texas state median of 1.6% and the U.S. national median of 0.99%. Local government entities within Red Oak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Oak 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 Red Oak's effective property tax rate to other counties in Texas and the national median. For comparison, the 75154 zip code has the highest median property tax rate of 1.31%, while the same 75154 zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Red Oak provides valuable insights into the varying tax landscape across Ellis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Red Oak Tax Rate
1.31%
Average Ellis County Tax Rate
1.33%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Oak, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75154 | 0.46% | 0.93% | 1.31% | 1.58% | 1.85% |
Source: Ownwell
$1,148
Average Red Oak Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Red Oak, Texas
In Red Oak, 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 Ellis 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 Red Oak, 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 Red Oak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Red Oak is $4371 in zip code 75154, while the lowest median tax bill is also $4371 in the same zip code.
Average Red Oak Assessed Value
$361,323
Average Ellis County Assessed Value
$332,264
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Red Oak, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75154 | $128,744 | $279,512 | $361,323 | $441,235 | $556,268 |
Source: Ownwell
$1,148
Average Red Oak Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Red Oak, Texas
In Red Oak, located in Ellis County, TX, property tax bills are calculated based on the assessed value of a home. The median home price in Red Oak is $361,323, and the property tax rate is applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions. For example, homeowners in Red Oak might see tax bills ranging from $2,308 at the 25th percentile to $8,145 at the 90th percentile. High property taxes can significantly impact homeowners, leading to financial strain. This is where Ownwell steps in to assist. By leveraging their expertise in property tax appeals and exemptions, Ownwell can help homeowners in Red Oak reduce their tax burdens. Through a thorough analysis and strategic appeal process, Ownwell aims to lower the assessed value of your property, resulting in substantial savings on your annual tax bill. Partner with Ownwell to ensure you're not overpaying on property taxes.
Average Red Oak Tax Bill
$4,371
Average Ellis County Tax Bill
$4,181
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Oak, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75154 | $932 | $2,308 | $4,371 | $6,308 | $8,145 |
Source: Ownwell
$1,148
Average Red Oak 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 | |
|---|---|
| Ellis Appraisal District | |
| Phone | (972) 825-5150 |
| Website | www.elliscad.com |
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