Tool, Texas Property Taxes
The median property tax rate in TOOL, TX is 1.60%, which is significantly higher than the national median of 0.99% but slightly below the Texas state median of 1.67%. With a median home value of $189,322 in TOOL, the typical annual property tax bill amounts to $2,506, which is just under the national median of $2,690. Property taxes in TOOL are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding TOOL'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 TOOL or another part of Henderson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tool, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$3,029
$2,803
Ownwell’s TOOL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TOOL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TOOL 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 Tool, Texas
Property taxes in TOOL, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in TOOL is 1.60%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within TOOL set these rates annually, and they can vary significantly across different neighborhoods. Each year, TOOL 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 TOOL's effective property tax rate to other counties in Texas and the national median. For comparison, the 75143 zip code has the highest median property tax rate of 1.60%, while the 75143 zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with TOOL provides valuable insights into the varying tax landscape across Henderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tool Tax Rate
1.60%
Average Henderson County Tax Rate
1.40%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tool, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75143 | 0.37% | 0.83% | 1.60% | 2.47% | 4.14% |
Source: Ownwell
Property Tax Assessment Values Across Tool, Texas
In TOOL, 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 Henderson 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 TOOL, 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. The median home price in TOOL is $189,322, with tax bills ranging from $596 at the 25th percentile to $14,693 at the 90th percentile. The highest median tax bill in the area is $2,506 in the 75143 zip code. 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 TOOL helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tool Assessed Value
$189,322
Average Henderson County Assessed Value
$139,776
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tool, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75143 | $15,000 | $72,736 | $189,322 | $395,145 | $647,800 |
Source: Ownwell
Property Tax Bills Across Tool, Texas
Property tax bills in TOOL, located in Henderson County, TX, are determined based on the assessed value of the property. The assessed value is typically a percentage of the market value, which is determined by the county appraisal district. Various factors influence this value, including the property's size, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In TOOL, homeowners can expect a wide range of property tax bills. For instance, the 25th percentile tax bill is around $596, while the 75th percentile tax bill is significantly higher at $7,203. The top 10% of property tax bills can go up to $14,693. Comparatively, the national median property tax rate is 0.99%, making TOOL's property taxes relatively diverse. High property taxes can impact homeowners by increasing the overall cost of homeownership, whereas lower taxes can make it more affordable. Understanding these factors can help homeowners better anticipate their annual financial obligations.
Average Tool Tax Bill
$2,506
Average Henderson County Tax Bill
$1,470
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Tool, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75143 | $127 | $596 | $2,506 | $7,203 | $14,693 |
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 | |
|---|---|
| Henderson Appraisal District | |
| Website | esearch.henderson-cad.org |