Midway, Texas Property Taxes
The median property tax rate in Midway, TX is 1.62%, which is considerably higher than the national median of 0.99% but slightly lower than the Texas state median of 1.67%. With a median home value of $127,055 in Midway, the typical annual property tax bill reaches $1,840, which is below the national median of $2,690. Property taxes in Midway 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 Midway'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 Midway 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
Midway, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$2,058
$1,904
Ownwell’s Midway Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Midway with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Midway to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in neighborhood-level trends, more localized information is available as you scroll down. Your property’s assessed value is the value assigned by Leon County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Midway, Texas
Property taxes in Midway, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midway is 1.62%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Midway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Midway 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 Midway's effective property tax rate to other counties in Texas and the national median. For comparison, the 75852 zip code has the highest median property tax rate of 1.62%, while the 75850 zip code has the lowest median tax rate of 1.62%. Understanding how these cities compare with Midway provides valuable insights into the varying tax landscape across Leon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Midway Tax Rate
1.62%
Average Leon County Tax Rate
1.60%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Midway, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75850 | 1.62% | 1.62% | 1.62% | 1.62% | 1.62% |
| 75852 | 0.50% | 1.62% | 1.62% | 1.62% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Midway, Texas
In Midway, 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 Leon 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 Midway, 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. For instance, the highest median tax bill in Midway is $1,893 in the 75852 zip code, while the lowest median tax bill is $648 in the 75850 zip code. 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 Midway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Midway Assessed Value
$127,055
Average Leon County Assessed Value
$129,755
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Midway, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75850 | $29,065 | $33,152 | $39,965 | $46,778 | $50,865 |
| 75852 | $51,146 | $85,750 | $134,910 | $251,905 | $380,950 |
Source: Ownwell
Property Tax Bills Across Midway, Texas
In Midway, located in Leon County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Midway stands at $127,055. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Midway, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $1,105, while the 75th percentile tax bill reaches approximately $2,948, and the 90th percentile tax bill can be as high as $4,762. These variations in tax bills are influenced by factors such as property location, improvements, and local tax rates. The highest median tax bill in the area is $1,893, found in the 75852 zip code, whereas the lowest is $648 in the 75850 zip code. Compared to the national median property tax rate of 0.99%, Midway's tax rates can present a considerable financial impact on homeowners, affecting their overall cost of living and long-term financial planning.
Average Midway Tax Bill
$1,840
Average Leon County Tax Bill
$1,738
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Midway, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75850 | $471 | $538 | $648 | $759 | $825 |
| 75852 | $472 | $1,153 | $1,893 | $3,080 | $4,787 |
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 | |
|---|---|
| Leon Appraisal District | |
| Website | www.leoncad.org |