Emory, Texas Property Taxes
The median property tax rate in Emory, TX is 1.65%, slightly lower than the Texas state median of 1.67% but still significantly higher than the national median of 0.99%. With a median home value of $93,125 in Emory, the typical annual property tax bill amounts to $1,114, which is below the national median of $2,690. Property taxes in Emory are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Emory'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 Emory 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
Emory, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Emory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Emory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emory 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 Emory, Texas
Property taxes in Emory, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emory is 1.65%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Emory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emory 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 Emory's effective property tax rate to other counties in Texas and the national median. For comparison, the 75440 zip code has the highest median property tax rate of 1.65%, while the same zip code also has the lowest median tax rate of 1.65%. Understanding how these cities compare with Emory provides valuable insights into the varying tax landscape across Rains County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emory Tax Rate
1.65%
Average Hopkins County Tax Rate
1.66%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emory, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75440 | 0.60% | 1.08% | 1.65% | 1.66% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Emory, Texas
In Emory, 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 Emory, 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 Emory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Emory is $93,125, with tax bills ranging from $709 at the 25th percentile to $3,728 at the 90th percentile. The zip code 75440 has the highest and lowest median tax bill, both at $1,114.
Average Emory Assessed Value
$93,125
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 Emory, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75440 | $20,445 | $42,702 | $93,125 | $237,845 | $272,624 |
Source: Ownwell
Property Tax Bills Across Emory, Texas
In Emory, located in 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 appraisal district, which evaluates the market value of properties annually. To determine the tax bill, the assessed value is multiplied by the local tax rate. For instance, with a median home price of $93,125, homeowners in Emory can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For example, the 25th percentile tax bill in Emory is $709, while the 75th percentile tax bill is $2,529, and the 90th percentile tax bill can reach up to $3,728. These figures highlight the range of possible tax bills homeowners might encounter. Understanding these factors is crucial for homeowners as property taxes significantly impact annual housing costs.
Average Emory Tax Bill
$1,114
Average Hopkins County Tax Bill
$1,733
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Emory, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75440 | $314 | $709 | $1,114 | $2,529 | $3,728 |
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 |