Elgin, Texas Property Taxes
The median property tax rate in Elgin, TX is 1.35%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $205,305 in Elgin, the typical annual property tax bill is around $2,172, which is below the national median of $2,690. Property taxes in Elgin are based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Elgin'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 Elgin 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
Elgin, 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 Elgin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elgin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elgin 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 Elgin, Texas
Property taxes in Elgin, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elgin is 1.35%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Elgin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elgin 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 Elgin's effective property tax rate to other counties in Texas and the national median. For comparison, the 78621 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Elgin provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elgin Tax Rate
1.35%
Average Lee County Tax Rate
1.46%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elgin, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78621 | 0.66% | 0.91% | 1.35% | 1.46% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Elgin, Texas
In Elgin, 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 Lee 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 Elgin, 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 Elgin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 78621, with a tax bill of $2,172, which is significantly higher than the national median property tax rate of 0.99%.
Average Elgin Assessed Value
$205,305
Average Lee County Assessed Value
$200,180
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elgin, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78621 | $58,485 | $84,610 | $205,305 | $421,750 | $683,615 |
Source: Ownwell
Property Tax Bills Across Elgin, Texas
In Elgin, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, determined by the county appraisal district. Homeowners in Elgin can expect a median property tax bill of $2,172, which is higher than the national median property tax rate of 0.99%. Factors influencing the tax bill include the home's assessed value, any applicable exemptions, and the local tax rate set by various taxing entities such as school districts and municipal governments. For instance, a home with a median price of $205,305 in Elgin may result in a tax bill ranging from $1,102 at the 25th percentile to $4,212 at the 75th percentile. At the 90th percentile, tax bills can go up to $7,381. These taxes fund essential public services like schools, roads, and emergency services. Higher property taxes can impact homeowners by increasing their annual expenses, but they also contribute to the community's overall well-being and infrastructure.
Average Elgin Tax Bill
$2,172
Average Lee County Tax Bill
$2,398
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Elgin, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78621 | $693 | $1,102 | $2,172 | $4,212 | $7,381 |
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 | |
|---|---|
| Lee Appraisal District | |
| Website | esearch.lee-cad.org |