Mexia, Texas Property Taxes
The median property tax rate in Mexia, TX is 1.01%, slightly above the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Mexia at $98,305, the typical annual property tax bill is around $885, which is below the national median of $2,690. Property taxes in Mexia are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mexia'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 Mexia 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
Mexia, 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 Mexia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mexia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mexia 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 Mexia, Texas
Property taxes in Mexia, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mexia is 1.01%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Mexia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mexia 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 Mexia's effective property tax rate to other counties in Texas and the national median. For comparison, the 76667 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Mexia provides valuable insights into the varying tax landscape across Limestone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mexia Tax Rate
1.01%
Average Limestone County Tax Rate
1.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mexia, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76667 | 0.36% | 0.64% | 1.01% | 1.38% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Mexia, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mexia, Texas. 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 Limestone 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. Assessment notices in Mexia 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. The median home price in Mexia is $98,305. The highest and lowest median tax bills are both $885, found in the 76667 zip code. For a broader perspective, the 25th percentile tax bill is $388, while the 75th percentile tax bill is $1,782, and the 90th percentile tax bill is $3,194. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mexia Assessed Value
$98,305
Average Limestone County Assessed Value
$107,545
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mexia, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76667 | $21,595 | $53,958 | $98,305 | $194,170 | $317,460 |
Source: Ownwell
Property Tax Bills Across Mexia, Texas
In Mexia, located in Limestone County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Mexia, the median home price is $98,305. Property tax bills can vary significantly, with the 25th percentile tax bill at $388, and the 75th percentile reaching $1,782. At the higher end, the 90th percentile tax bill can be as much as $3,194. These figures reflect the range of property values and tax rates within the city. Compared to the national median property tax rate of 0.99%, Mexia's property tax bills are relatively moderate. This system ensures that homeowners contribute to local services and infrastructure based on their property's market value, thus maintaining a fair distribution of tax responsibilities across the community.
Average Mexia Tax Bill
$885
Average Limestone County Tax Bill
$971
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mexia, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76667 | $165 | $388 | $885 | $1,782 | $3,194 |
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 | |
|---|---|
| Limestone Appraisal District | |
| Website | esearch.limestonecad.com |