New Deal, Texas Property Taxes
The median property tax rate in New Deal, TX is 2.26%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $36,452, the typical annual property tax bill in New Deal reaches $881, which is notably below the national median of $2,690. Property taxes in New Deal are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding New Deal'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 New Deal 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
New Deal, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average New Deal, Texas Tax Savings
Ownwell’s New Deal Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Deal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Deal to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in New Deal. 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 New Deal, Texas
Property taxes in New Deal, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Deal is 2.26%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within New Deal set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Deal 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 New Deal's effective property tax rate to other counties in Texas and the national median. For comparison, the 79350 zip code has the highest median property tax rate of 2.26%, while the same zip code also has the lowest median tax rate of 2.26%. Understanding how these cities compare with New Deal provides valuable insights into the varying tax landscape across Lubbock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Deal Tax Rate
2.26%
Average Lubbock County Tax Rate
1.86%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Deal, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79350 | 1.72% | 2.12% | 2.26% | 2.26% | 2.26% |
Source: Ownwell
$1,148
Average New Deal Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across New Deal, Texas
In New Deal, 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 Lubbock 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 New Deal, 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 New Deal is $36,452, with tax bills ranging from $268 at the 25th percentile to $3,438 at the 90th percentile. 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 New Deal helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Deal Assessed Value
$36,452
Average Lubbock County Assessed Value
$190,386
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Deal, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79350 | $6,245 | $11,000 | $36,452 | $98,267 | $170,499 |
Source: Ownwell
$1,148
Average New Deal Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across New Deal, Texas
In New Deal, located in Lubbock County, TX, property tax bills are calculated based on the assessed value of your home. The median home price in New Deal is $36,452. Local tax authorities determine the assessed value, which is then multiplied by the local tax rate. Factors such as property size, location, and market conditions are considered in this assessment. Homeowners in New Deal face varying tax bills, with the 25th percentile at $268 and the 90th percentile reaching up to $3,438. Compared to the national median property tax rate of 0.99%, New Deal offers relatively affordable property tax bills. However, these taxes can still be a significant financial burden. Ownwell can assist homeowners by appealing inaccurate assessments and identifying applicable exemptions, potentially lowering their tax bills. By leveraging expert knowledge and local data, Ownwell ensures homeowners only pay their fair share, providing peace of mind and potential savings.
Average New Deal Tax Bill
$881
Average Lubbock County Tax Bill
$3,513
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across New Deal, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79350 | $172 | $268 | $881 | $2,125 | $3,438 |
Source: Ownwell
$1,148
Average New Deal Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Lubbock Appraisal District | |
| Phone | (806) 762-5000 |
| Website | lubbockcad.org |
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