Goree, Texas Property Taxes
The median property tax rate in Goree, TX is 3.29%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $23,075, the typical annual property tax bill in Goree reaches $732, which is considerably lower than the national median of $2,690. Property taxes in Goree are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Goree'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 Goree 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
Goree, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.29%
Estimate Property Tax Bill
$759
$702
Ownwell’s Goree Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goree 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 Goree, Texas
Property taxes in Goree, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goree is 3.29%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Goree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goree 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 Goree's effective property tax rate to other counties in Texas and the national median. For comparison, the 76363 zip code has the highest median property tax rate of 3.29%, while the same zip code also has the lowest median tax rate of 3.29%. Understanding how these cities compare with Goree provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goree Tax Rate
3.29%
Average Knox County Tax Rate
2.74%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goree, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76363 | 2.31% | 3.29% | 3.29% | 3.29% | 3.29% |
Source: Ownwell
Property Tax Assessment Values Across Goree, Texas
In Goree, 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 Knox 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 Goree, 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. In Goree, the median home price is $23,075, with tax bills ranging from $190 at the 25th percentile to $1,829 at the 90th percentile. The zip code with the highest and lowest median tax bill is 76363, both at $732. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Goree Assessed Value
$23,075
Average Knox County Assessed Value
$31,450
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goree, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76363 | $1,933 | $5,750 | $23,075 | $42,795 | $67,639 |
Source: Ownwell
Property Tax Bills Across Goree, Texas
In Goree, located in Knox County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the market value of the property, improvements made, and any applicable exemptions or deductions are considered in this process. For homeowners in Goree, the median home price is $23,075, and property tax bills can vary significantly. At the 25th percentile, the tax bill is around $190, while at the 75th percentile, it can reach up to $1,188, and at the 90th percentile, it can go as high as $1,829. These variations can impact homeowners differently, depending on their property’s assessed value and the applicable tax rate. Compared to the national median property tax rate of 0.99%, Goree's tax rates reflect the unique economic and property value conditions of the area.
Average Goree Tax Bill
$732
Average Knox County Tax Bill
$916
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Goree, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76363 | $63 | $190 | $732 | $1,188 | $1,829 |
Source: Ownwell