Hemphill, Texas Property Taxes
The median property tax rate in Hemphill, TX is 0.18%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Hemphill at $55,440, the typical annual property tax bill is just $57, far below the national median of $2,690. Property taxes in Hemphill 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 Hemphill'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 Hemphill 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
Hemphill, 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 Hemphill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hemphill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hemphill 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 Hemphill, Texas
Property taxes in Hemphill, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hemphill is 0.18%, significantly lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Hemphill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hemphill 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 Hemphill's effective property tax rate to other counties in Texas and the national median. For comparison, the highest median property tax rate in Texas is found in 77005 with a rate of 2.18%, while the lowest median tax rate is in 79854 at 0.18%. Understanding how these cities compare with Hemphill provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hemphill Tax Rate
0.18%
Average Newton County Tax Rate
0.66%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hemphill, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75948 | 0.13% | 0.16% | 0.18% | 0.25% | 0.35% |
Source: Ownwell
Property Tax Assessment Values Across Hemphill, Texas
In Hemphill, 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 Newton 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 Hemphill, 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 Hemphill is $55,440, with tax bills ranging from $37 at the 25th percentile to $207 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 Hemphill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hemphill Assessed Value
$55,440
Average Newton County Assessed Value
$54,464
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hemphill, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75948 | $12,136 | $24,832 | $55,440 | $57,208 | $69,792 |
Source: Ownwell
Property Tax Bills Across Hemphill, Texas
In Hemphill, located in Newton County, TX, property tax bills 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 property's market value. For homeowners in Hemphill, the median home price stands at $55,440. The property tax rate in Hemphill is influenced by various factors, including local government budgets and funding requirements for services such as schools, infrastructure, and public safety. Homeowners in Hemphill can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is $37, while the 75th percentile reaches $150, and the 90th percentile hits $207. Comparatively, the national median property tax rate is 0.99%, highlighting the relative affordability of property taxes in Hemphill. Lower tax bills can make homeownership more accessible, but it's essential for homeowners to stay informed about potential changes in assessed values and tax rates, which could impact their annual tax obligations.
Average Hemphill Tax Bill
$57
Average Newton County Tax Bill
$251
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Hemphill, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75948 | $24 | $37 | $57 | $150 | $207 |
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 | |
|---|---|
| Newton Appraisal District | |
| Website | propaccess.trueautomation.com |