Rice, Texas Property Taxes
The median property tax rate in Rice, TX is 1.26%, notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Rice at $123,525, the typical annual property tax bill amounts to $1,119, which is below the national median of $2,690. Property taxes in Rice are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rice'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 Rice 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
Rice, 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 Rice Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Rice with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rice to estimate your property tax bill. This helpful tool provides a clear understanding of potential tax liabilities. For a more granular view, you can explore trends at the neighborhood level by scrolling down for localized information. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Rice, Texas
Property taxes in Rice, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rice is 1.26%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Rice set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rice 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 Rice's effective property tax rate to other counties in Texas and the national median. For comparison, the 75155 zip code has both the highest and lowest median property tax rate of 1.26%. Understanding how these cities compare with Rice provides valuable insights into the varying tax landscape across Navarro County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rice Tax Rate
1.26%
Average Navarro County Tax Rate
1.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rice, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75155 | 0.39% | 0.74% | 1.26% | 1.67% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Rice, Texas
In Rice, 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 Navarro 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 Rice, 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. For instance, the median home price in Rice is $123,525, with the 25th percentile tax bill at $345 and the 75th percentile tax bill at $2,388. The highest and lowest median tax bills are both $1,119, found in zip code 75155. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rice Assessed Value
$123,525
Average Navarro County Assessed Value
$152,655
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rice, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75155 | $12,540 | $35,215 | $123,525 | $245,042 | $373,161 |
Source: Ownwell
Property Tax Bills Across Rice, Texas
Property tax bills in Rice, Navarro 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, which evaluates the market value of the property. Once the market value is established, the property is assessed at a percentage of that value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the property tax bill, including the property's location, size, and condition. In Rice, the median home price is $123,525. Homeowners in the 25th percentile can expect a tax bill around $345, while those in the 75th percentile may see bills as high as $2,388. At the 90th percentile, the tax bill can reach up to $4,355. These property taxes significantly impact homeowners, influencing their annual budgets and overall cost of homeownership. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners in Rice to be aware of their local rates and assessments.
Average Rice Tax Bill
$1,119
Average Navarro County Tax Bill
$1,415
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Rice, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75155 | $166 | $345 | $1,119 | $2,388 | $4,355 |
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 | |
|---|---|
| Navarro Appraisal District | |
| Website | esearch.navarrocad.com |