Booker, Texas Property Taxes
The median property tax rate in Booker, TX is 2.61%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $46,310 in Booker, the typical annual property tax bill reaches $1,043, surpassing the national median of $2,690. Property taxes in Booker are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Booker’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 Booker or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Booker, 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 Booker Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Booker with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Booker 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 Booker, Texas
Property taxes in Booker, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Booker is 2.61%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Booker set these rates annually, and they can vary significantly across different neighborhoods. Each year, Booker 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 Booker's effective property tax rate to other counties in Texas and the national median. For comparison, the 79005 zip code has the highest median property tax rate of 2.61%, while the same zip code also has the lowest median tax rate of 2.61%. Understanding how these cities compare with Booker provides valuable insights into the varying tax landscape across Lipscomb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Booker Tax Rate
2.61%
Average Lipscomb County Tax Rate
2.36%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Booker, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79005 | 1.95% | 2.13% | 2.61% | 3.04% | 3.09% |
Source: Ownwell
Property Tax Assessment Values Across Booker, Texas
In Booker, 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 Lipscomb 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 Booker, 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 Booker stands at $46,310, with tax bills ranging widely. For instance, the 25th percentile tax bill is $384, while the 75th percentile reaches $1,808, and the 90th percentile hits $2,520. The highest and lowest median tax bills are both $1,043, located in zip code 79005. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Booker Assessed Value
$46,310
Average Lipscomb County Assessed Value
$31,530
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Booker, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79005 | $4,100 | $15,520 | $46,310 | $72,460 | $98,588 |
Source: Ownwell
Property Tax Bills Across Booker, Texas
In Booker, located in Lipscomb County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Booker is $46,310. Property tax rates are applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. For homeowners in Booker, property tax bills can vary significantly. The 25th percentile tax bill is $384, while the 75th percentile tax bill is $1,808, and the 90th percentile tax bill reaches $2,520. These figures highlight the range of property taxes residents might expect to pay, depending on their property's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, Booker's rates can be seen as relatively moderate, offering some relief to homeowners. However, understanding these calculations is crucial for homeowners to budget effectively and take advantage of any available exemptions.
Average Booker Tax Bill
$1,043
Average Lipscomb County Tax Bill
$613
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Booker, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79005 | $122 | $384 | $1,043 | $1,808 | $2,520 |
Source: Ownwell