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Dripping Springs, Texas Property Taxes

The median property tax rate in Dripping Springs, TX is 1.36%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Dripping Springs at $773,860, the typical annual property tax bill reaches $9,655, significantly exceeding the national median of $2,690. Property taxes in Dripping Springs 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 Dripping Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Dripping Springs 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

Dripping Springs, 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

SAVE WITH OWNWELL

$1,148

Average Dripping Springs, Texas Tax Savings

Ownwell’s Dripping Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dripping Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dripping Springs 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 Dripping Springs. 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 Dripping Springs, Texas

Property taxes in Dripping Springs, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dripping Springs is 1.36%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Dripping Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dripping Springs 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 Dripping Springs' effective property tax rate to other counties in Texas and the national median. For comparison, the 78620 zip code has the highest median property tax rate of 1.36%, while the 78620 zip code has the lowest median tax rate of 1.36%. Understanding how these cities compare with Dripping Springs provides valuable insights into the varying tax landscape across Hays County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Dripping Springs, Texas

Source: Ownwell

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0.24%

1.04%

1.83%

Average Dripping Springs Tax Rate

1.36%

Average Hays County Tax Rate

1.71%

Average Texas Tax Rate

1.67%

Average United States Tax Rate

0.99%

Property Tax Rates Across Dripping Springs, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
786200.73%0.98%1.36%1.68%1.91%

Source: Ownwell

Property Tax Assessment Values Across Dripping Springs, Texas

In Dripping Springs, 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 Hays 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 Dripping Springs, 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 Dripping Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 78620 has both the highest and lowest median tax bill, standing at $9,655. The 25th percentile tax bill is $6,715, while the 75th percentile tax bill is $13,548.

Property Tax Assessment Values Across Dripping Springs, Texas

Source: Ownwell

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$208,980

$1,442,885

$2,676,790

Average Dripping Springs Assessed Value

$773,860

Average Hays County Assessed Value

$409,280

Average Texas Assessed Value

$247,950

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Dripping Springs, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
78620$316,680$544,346$773,860$1,033,345$1,384,107

Source: Ownwell

Property Tax Bills Across Dripping Springs, Texas

In Dripping Springs, Hays County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Dripping Springs is $773,860, significantly impacting the tax bills. For example, homeowners in the 25th percentile pay around $6,715, while those in the 75th percentile face bills up to $13,548. The highest median tax bill in the area reaches $9,655, reflecting the substantial financial burden on homeowners. Several factors influence these tax bills, including property assessments and local tax rates. High property values can lead to increased tax obligations, making it crucial for homeowners to ensure their properties are assessed accurately. Ownwell assists homeowners in Dripping Springs by appealing inaccurate property assessments and securing applicable exemptions. By leveraging expert knowledge and experience, Ownwell helps homeowners reduce their tax bills, ensuring they pay only their fair share. This service is invaluable in a market where property taxes can significantly impact household budgets.

Property Tax Bills Across Dripping Springs, Texas

Source: Ownwell

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$3,141

$11,063

$18,985

Average Dripping Springs Tax Bill

$9,655

Average Hays County Tax Bill

$7,200

Average Texas Tax Bill

$3,971

Average United States Tax Bill

$2,690

Property Tax Bills Across Dripping Springs, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
78620$3,293$6,715$9,655$13,548$18,174

Source: Ownwell

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