Big Spring, Texas Property Taxes
The median property tax rate in Big Spring, TX is 1.58%, which is higher than the national median of 0.99% but slightly below the Texas state median of 1.67%. With a median home value of $106,202 in Big Spring, the typical annual property tax bill amounts to $1,416, which is lower than the national median of $2,690. Property taxes in Big Spring are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Big Spring'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 Big Spring 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
Big Spring, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$1,678
$1,553
Ownwell’s BIG SPRING Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BIG SPRING with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BIG SPRING 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 Big Spring, Texas
Property taxes in Big Spring, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Spring is 1.58%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Big Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Spring 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 Big Spring's effective property tax rate to other counties in Texas and the national median. For comparison, the 79720 zip code has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Big Spring provides valuable insights into the varying tax landscape across Howard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Spring Tax Rate
1.58%
Average Howard County Tax Rate
1.56%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Spring, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79720 | 0.95% | 1.22% | 1.58% | 1.76% | 1.76% |
| 79721 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Big Spring, Texas
In Big Spring, 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 Howard 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 Big Spring, 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 Big Spring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Big Spring are both $1,418 in zip code 79720.
Average Big Spring Assessed Value
$106,202
Average Howard County Assessed Value
$107,910
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Spring, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79720 | $22,940 | $49,604 | $106,256 | $180,816 | $273,870 |
| 79721 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Big Spring, Texas
In Big Spring, located in Howard County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Big Spring can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $697 and the 75th percentile reaching $2,570. At the 90th percentile, homeowners may pay as much as $3,996 annually. Several factors contribute to the final tax bill, including the local tax rate and any applicable exemptions. The median home price in Big Spring is $106,202, and with a local median tax bill of $1,418, homeowners in this area face a tax rate that is competitive when compared to the national median property tax rate of 0.99%. These tax bills directly impact homeowners' annual expenses, influencing their overall cost of living and financial planning.
Average Big Spring Tax Bill
$1,416
Average Howard County Tax Bill
$1,431
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Spring, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79720 | $307 | $697 | $1,418 | $2,570 | $3,996 |
| 79721 | N/A | N/A | N/A | N/A | N/A |
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 | |
|---|---|
| Howard Appraisal District | |
| Website | esearch.howardcad.org |