Spofford, Texas Property Taxes
The median property tax rate in Spofford, TX is 1.11%, slightly above the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $44,093, the typical annual property tax bill in Spofford amounts to $298, which is significantly below the national median of $2,690. Property taxes in Spofford are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural uses. Understanding Spofford'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 Spofford or another part of the city, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spofford, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$489
$453
Ownwell’s Spofford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spofford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spofford 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 Spofford, Texas
Property taxes in Spofford, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spofford is 1.11%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Spofford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spofford 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 Spofford's effective property tax rate to other counties in Texas and the national median. For comparison, the 78877 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Spofford provides valuable insights into the varying tax landscape across Kinney County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spofford Tax Rate
1.11%
Average Kinney County Tax Rate
1.24%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spofford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78877 | 0.36% | 0.61% | 1.11% | 1.56% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Spofford, Texas
In Spofford, 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 Kinney 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 Spofford, 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 Spofford is $44,093, with tax bills ranging from $162 at the 25th percentile to $1,049 at the 90th percentile. The highest and lowest median tax bills both stand at $298 in zip code 78877. 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 Spofford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Spofford Assessed Value
$44,093
Average Kinney County Assessed Value
$60,449
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spofford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78877 | $15,585 | $19,769 | $44,093 | $59,353 | $96,958 |
Source: Ownwell
Property Tax Bills Across Spofford, Texas
In Spofford, located in Kinney County, TX, property tax bills are determined by assessing the market value of a property and applying the local tax rate. With a median home price of $44,093, the assessed value serves as the foundation for calculating the tax bill. Homeowners in Spofford can expect their tax bills to vary significantly based on their property's assessed value. For instance, the 25th percentile tax bill is approximately $162, while the 75th percentile tax bill reaches $734. At the higher end, the 90th percentile tax bill can be as much as $1,049. These tax bills impact homeowners by influencing their annual expenses and potentially affecting their budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Spofford's property tax rates offer a unique perspective on local taxation. Understanding these factors is crucial for homeowners to manage their property-related costs effectively.
Average Spofford Tax Bill
$298
Average Kinney County Tax Bill
$604
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Spofford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78877 | $85 | $162 | $298 | $734 | $1,049 |
Source: Ownwell