Lone Star, Texas Property Taxes
The median property tax rate in Lone Star, TX is 1.82%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $50,770 in Lone Star, the typical annual property tax bill amounts to $905, which is below the national median of $2,690. Property taxes in Lone Star are determined based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Lone Star's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're residing in Lone Star or investing in real estate there, being well-versed in the local property tax system is advantageous.
Last Updated June 14, 2024
Lone Star, 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 Lone Star Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lone Star with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lone Star 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 Lone Star, Texas
Property taxes in Lone Star, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lone Star is 1.82%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lone Star set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lone Star 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 Lone Star's effective property tax rate to other counties in Texas and the national median. For comparison, the 75668 zip code has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these cities compare with Lone Star provides valuable insights into the varying tax landscape across Morris County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lone Star Tax Rate
1.82%
Average Morris County Tax Rate
1.82%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lone Star, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75668 | 1.82% | 1.82% | 1.82% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Lone Star, Texas
In Lone Star, 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 Morris 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 Lone Star, 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 Lone Star helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 75668 has the highest and lowest median tax bill, both at $905.
Average Lone Star Assessed Value
$50,770
Average Morris County Assessed Value
$87,670
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lone Star, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75668 | $22,865 | $30,702 | $50,770 | $122,740 | $201,804 |
Source: Ownwell
Property Tax Bills Across Lone Star, Texas
In Lone Star, Texas, 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 Morris County Appraisal District and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual tax bill. Homeowners in Lone Star typically see a wide range of tax bills, with the 25th percentile at $551 and the 75th percentile reaching $2,143. For those in the 90th percentile, the tax bill can be as high as $3,584. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, Lone Star's property taxes can vary significantly. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and manage their finances effectively.
Average Lone Star Tax Bill
$905
Average Morris County Tax Bill
$1,437
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lone Star, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75668 | $413 | $551 | $905 | $2,143 | $3,584 |
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 | |
|---|---|
| Morris Appraisal District | |
| Website | search.morriscad.com |