Plum, Texas Property Taxes
The median property tax rate in Plum, TX is 1.24%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Plum at $50,045, the typical annual property tax bill amounts to $519, falling well below the national median of $2,690. Property taxes in Plum are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Plum'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 Plum or another part of Fayette County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Plum, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$621
$574
Ownwell’s Plum Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Plum with just two data inputs. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plum to provide an accurate estimate of your property tax bill. This invaluable tool offers a clear understanding of potential tax obligations. For those interested in more granular insights, additional neighborhood-level trends are available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Plum, Texas
Property taxes in Plum, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plum is 1.24%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Plum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plum 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 Plum's effective property tax rate to other counties in Texas and the national median. For comparison, the 78952 zip code has the highest median property tax rate of 1.24%, while the 78952 zip code has the lowest median tax rate of 1.24%. Understanding how these cities compare with Plum provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plum Tax Rate
1.24%
Average Fayette County Tax Rate
1.14%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plum, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78952 | 0.98% | 1.17% | 1.24% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Plum, Texas
In Plum, 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 Fayette 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 Plum, 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 Plum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $519 in zip code 78952, which can provide a benchmark for homeowners evaluating their own tax situations.
Average Plum Assessed Value
$50,045
Average Fayette County Assessed Value
$251,650
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plum, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78952 | $5,026 | $14,208 | $50,045 | $110,398 | $188,977 |
Source: Ownwell
Property Tax Bills Across Plum, Texas
In Plum, located in Fayette County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Plum, the median home price is $50,045. The property tax rate in Fayette County is 1.04%, which is slightly above the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. For instance, at the 25th percentile, homeowners might pay around $120 annually, while those at the 75th percentile see bills closer to $1,201. The 90th percentile tax bill can reach up to $1,927. These variances can significantly impact homeowners' financial planning, making it crucial to understand how local property tax assessments and rates affect their annual obligations.
Average Plum Tax Bill
$519
Average Fayette County Tax Bill
$2,303
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Plum, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78952 | $55 | $120 | $519 | $1,201 | $1,927 |
Source: 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 | |
|---|---|
| Fayette Appraisal District | |
| Website | esearch.fayettecad.org |