Sulphur Springs, Texas Property Taxes
The median property tax rate in Sulphur Springs, TX is 1.66%, slightly lower than the Texas state median of 1.67% but considerably higher than the national median of 0.99%. With the median home value in Sulphur Springs at $127,560, the typical annual property tax bill reaches $1,957, which is below the national median of $2,690. Property taxes in Sulphur 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 Sulphur 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 Sulphur 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
Sulphur Springs, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$2,117
$1,959
Ownwell’s Sulphur Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sulphur Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sulphur Springs 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 Sulphur Springs, Texas
Property taxes in Sulphur Springs, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sulphur Springs is 1.66%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Sulphur Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sulphur 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 Sulphur Springs' effective property tax rate to other counties in Texas and the national median. For comparison, the 75437 zip code has the highest median property tax rate of 2.10%, while the 75482 zip code has the lowest median tax rate of 1.66%. Understanding how these cities compare with Sulphur Springs 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 Sulphur Springs Tax Rate
1.66%
Average Hopkins County Tax Rate
1.66%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sulphur Springs, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75437 | 2.10% | 2.10% | 2.10% | 2.10% | 2.10% |
| 75471 | 2.10% | 2.10% | 2.10% | 2.10% | 2.10% |
| 75482 | 0.72% | 1.34% | 1.66% | 2.10% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Sulphur Springs, Texas
In Sulphur 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 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 Sulphur 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. Sulphur Springs has a wide range of property tax bills. For example, the highest median tax bill is $1,960 in zip code 75482, while the lowest is $109 in zip code 75471. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sulphur Springs Assessed Value
$127,560
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 Sulphur Springs, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75437 | $6,880 | $6,880 | $6,880 | $6,880 | $6,880 |
| 75471 | $5,210 | $5,210 | $5,210 | $5,210 | $5,210 |
| 75482 | $29,103 | $68,578 | $127,775 | $224,462 | $393,784 |
Source: Ownwell
Property Tax Bills Across Sulphur Springs, Texas
In Sulphur Springs, property tax bills are calculated based on the assessed value of a home, which is determined by the Hopkins County Appraisal District. The assessed value is a percentage of the market value, reflecting the property's worth. Once the assessed value is established, local tax rates are applied to calculate the property tax bill. Several factors influence the final tax bill, including property location, size, and any applicable exemptions. Homeowners in Sulphur Springs can expect varying tax bills, with the 25th percentile at $980 and the 75th percentile reaching $3,251. The highest median tax bill in the area is $1,960, specifically in the 75482 zip code, while the lowest median tax bill is $109 in the 75471 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Sulphur Springs may experience different financial impacts based on their specific circumstances. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly.
Average Sulphur Springs Tax Bill
$1,957
Average Hopkins County Tax Bill
$1,733
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Sulphur Springs, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75437 | $145 | $145 | $145 | $145 | $145 |
| 75471 | $109 | $109 | $109 | $109 | $109 |
| 75482 | $341 | $984 | $1,960 | $3,257 | $5,039 |
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 |