Winchester, Texas Property Taxes
The median property tax rate in Winchester, TX is 1.24%, which is higher than the national median of 0.99% but lower than Texas's state median of 1.67%. With the median home value in Winchester, the typical annual property tax bill amounts to $130, significantly below the national median of $2,690. Property taxes in Winchester are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Winchester'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 Winchester 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
Winchester, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$130
$121
Ownwell’s Winchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winchester 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 Winchester, Texas
Property taxes in Winchester, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winchester is 1.24%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Winchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winchester 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 Winchester's effective property tax rate to other counties in Texas and the national median. For comparison, the 78945 zip code has both the highest and lowest median property tax rate of 1.24%. Understanding how these cities compare with Winchester 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 Winchester 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 Winchester, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78945 | 1.24% | 1.24% | 1.24% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Winchester, Texas
In Winchester, 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 Winchester, 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 Winchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both found in zip code 78945, with a median tax bill of $130.
Average Winchester Assessed Value
$10,520
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 Winchester, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78945 | $7,724 | $7,880 | $10,520 | $12,690 | $37,050 |
Source: Ownwell
Property Tax Bills Across Winchester, Texas
In Winchester, located in Fayette County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county appraisal district, which evaluates the property's market value. Homeowners in Winchester typically face a property tax rate that aligns with the county's standards. With a median home price of $10,520, the tax bill can vary significantly. For instance, the 25th percentile tax bill is about $97, while the 75th percentile reaches $157. At the higher end, the 90th percentile tax bill can go up to $458. These tax bills are influenced by several factors, including the property's location within the county, any applicable exemptions, and the specific tax rates set by local taxing authorities. Compared to the national median property tax rate of 0.99%, Winchester's rates reflect the unique economic conditions of the region. Understanding these factors helps homeowners anticipate their tax responsibilities and manage their budgets accordingly.
Average Winchester Tax Bill
$130
Average Fayette County Tax Bill
$2,303
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Winchester, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78945 | $95 | $97 | $130 | $157 | $458 |
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 |