Higgins, Texas Property Taxes
The median property tax rate in Higgins, TX is 1.27%, 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 $16,810 in Higgins, the typical annual property tax bill is around $199, significantly below the national median of $2,690. Property taxes in Higgins are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Higgins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Higgins 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
Higgins, 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 Higgins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Higgins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Higgins 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 Higgins, Texas
Property taxes in Higgins, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Higgins is 1.27%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Higgins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Higgins 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 Higgins's effective property tax rate to other counties in Texas and the national median. For comparison, the 79046 zip code has the highest median property tax rate of 1.27%, while the 79046 zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Higgins 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 Higgins Tax Rate
1.27%
Average Lipscomb County Tax Rate
2.36%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Higgins, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79046 | 0.78% | 1.05% | 1.27% | 1.57% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Higgins, Texas
In Higgins, 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 Higgins, 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 Higgins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area, both at $199, are found in the 79046 zip code.
Average Higgins Assessed Value
$16,810
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 Higgins, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79046 | $1,404 | $5,100 | $16,810 | $41,760 | $72,878 |
Source: Ownwell
Property Tax Bills Across Higgins, Texas
In Higgins, located in Lipscomb County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. For example, the median home price in Higgins is $16,810. Property taxes are then calculated by applying the local tax rate to this assessed value. Factors such as property size, location, and any improvements made to the property are considered in the assessment process. Homeowners in Higgins experience varying tax bills, with the 25th percentile paying around $65, while those in the 75th percentile pay approximately $514. The top 10% of homeowners face tax bills as high as $893. Compared to the national median property tax rate of 0.99%, homeowners in Higgins benefit from relatively low property taxes. This can significantly impact homeowners by providing some financial relief and making homeownership more affordable in the region.
Average Higgins Tax Bill
$199
Average Lipscomb County Tax Bill
$613
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Higgins, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79046 | $23 | $65 | $199 | $514 | $893 |
Source: Ownwell