Spofford, Texas Property Taxes
The median property tax rate in Spofford, TX is 0.90%, slightly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $82,757 in Spofford, the typical annual property tax bill amounts to $1,035, which is below the national median of $2,690. Property taxes in Spofford 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 Spofford'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 Spofford 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
Spofford, 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 Spofford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spofford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spofford 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 Spofford, Texas
Property taxes in Spofford, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spofford is 0.90%, lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Spofford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spofford 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 Spofford's effective property tax rate to other counties in Texas and the national median. For comparison, the 78877 zip code has the highest median property tax rate of 0.90%, while the 78877 zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Spofford provides valuable insights into the varying tax landscape across Maverick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spofford Tax Rate
0.90%
Average Maverick County Tax Rate
1.36%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spofford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78877 | 0.81% | 0.84% | 0.90% | 1.13% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Spofford, Texas
In Spofford, 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 Maverick 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 Spofford, 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. The median home price in Spofford is $82,757, with tax bills ranging from $844 at the 25th percentile to $1,717 at the 90th percentile. The highest and lowest median tax bills are both $1,035 in the 78877 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Spofford Assessed Value
$82,757
Average Maverick County Assessed Value
$131,886
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spofford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78877 | $77,355 | $79,380 | $82,757 | $146,600 | $184,907 |
Source: Ownwell
Property Tax Bills Across Spofford, Texas
Property tax bills in Spofford, Maverick County, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. Homeowners in Spofford face a median property tax rate of 1.25%, slightly above the national median of 0.99%. For a median home price of $82,757, this translates to an annual tax bill ranging from $844 at the 25th percentile to $1,717 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,035, indicating some consistency in property valuations. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life. Homeowners need to budget for these taxes as part of their annual expenses, and timely appeals can help ensure fair assessments.
Average Spofford Tax Bill
$1,035
Average Maverick County Tax Bill
$1,873
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Spofford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78877 | $729 | $844 | $1,035 | $1,461 | $1,717 |
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 | |
|---|---|
| Maverick Appraisal District | |
| Website | maverickcad.org |