Cumby, Texas Property Taxes
The median property tax rate in Cumby, TX is 1.68%, slightly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Cumby at $140,465, the typical annual property tax bill reaches $1,714, which is lower than the national median of $2,690. Property taxes in Cumby 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 Cumby'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 Cumby or another part of Hopkins County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cumby, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$2,360
$2,183
Ownwell’s Cumby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cumby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cumby 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 Cumby, Texas
Property taxes in Cumby, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cumby is 1.68%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Cumby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cumby 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 Cumby's effective property tax rate to other counties in Texas and the national median. For comparison, the 75433 zip code has the highest median property tax rate of 1.68%, while the 75433 zip code also has the lowest median tax rate of 1.68%. Understanding how these cities compare with Cumby provides valuable insights into the varying tax landscape across Hopkins County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cumby Tax Rate
1.68%
Average Hopkins County Tax Rate
1.66%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cumby, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75433 | 0.36% | 0.95% | 1.68% | 1.91% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Cumby, Texas
In Cumby, 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 Hopkins 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 Cumby, 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 Cumby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Cumby is $1,714, found in the 75433 zip code, while the lowest median tax bill is also $1,714 in the same zip code.
Average Cumby Assessed Value
$140,465
Average Hopkins County Assessed Value
$132,490
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cumby, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75433 | $23,377 | $63,798 | $140,465 | $282,168 | $492,858 |
Source: Ownwell
Property Tax Bills Across Cumby, Texas
In Cumby, Hopkins County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's appraisal district, which evaluates the market value of your property. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. Factors such as the property's location, size, and improvements made can influence its assessed value. For homeowners in Cumby, the median home price is $140,465. Property tax bills can vary significantly, with the 25th percentile tax bill at $773 and the 75th percentile reaching $3,074. At the 90th percentile, tax bills can go up to $4,845. Comparatively, the national median property tax rate is 0.99%, so it's essential for homeowners to understand how their local rates and assessed values impact their annual tax obligations. High property taxes can affect affordability and long-term financial planning for homeowners in Cumby.
Average Cumby Tax Bill
$1,714
Average Hopkins County Tax Bill
$1,733
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Cumby, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75433 | $280 | $773 | $1,714 | $3,074 | $4,845 |
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 | |
|---|---|
| Hopkins Appraisal District | |
| Website | iswdataclient.azurewebsites.net |