Waka, Texas Property Taxes
The median property tax rate in WAKA, TX is 1.67%, aligning with the Texas state median but significantly higher than the national median of 0.99%. With the median home value in WAKA at $36,772, the typical annual property tax bill amounts to $418, surpassing the national median of $2,690. Property taxes in WAKA are calculated based on the tax assessed value, which often falls below market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding WAKA'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 WAKA or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waka, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$614
$568
Ownwell’s WAKA Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in WAKA. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in WAKA to provide an estimate of your property tax bill. This valuable insight helps you understand your potential tax liabilities. For those interested in more granular data, you can find localized information by scrolling down. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Waka, Texas
Property taxes in WAKA, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in WAKA is 1.67%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within WAKA set these rates annually, and they can vary significantly across different neighborhoods. Each year, WAKA 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 WAKA's effective property tax rate to other counties in Texas and the national median. For comparison, the 79093 zip code has the highest median property tax rate of 1.67%, while the 79093 zip code also has the lowest median tax rate of 1.67%. Understanding how these cities compare with WAKA provides valuable insights into the varying tax landscape across Ochiltree County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waka Tax Rate
1.67%
Average Ochiltree County Tax Rate
1.91%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waka, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79093 | 0.57% | 0.67% | 1.67% | 2.05% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Waka, Texas
In WAKA, 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 Ochiltree 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 WAKA, 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 WAKA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills both stand at $418 in the 79093 zip code.
Average Waka Assessed Value
$36,772
Average Ochiltree County Assessed Value
$77,932
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waka, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79093 | $3,229 | $20,215 | $36,772 | $69,694 | $113,493 |
Source: Ownwell
Property Tax Bills Across Waka, Texas
In WAKA, located in Ochiltree County, TX, 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 county appraisal district, which evaluates the market value of the property. The tax rate is set by local taxing authorities and can vary depending on the needs of the community. For homeowners in WAKA, the median home price stands at $36,772. The property tax bill can range significantly, with the 25th percentile at $158 and the 75th percentile reaching $790. At the 90th percentile, homeowners might see tax bills as high as $1,790. These figures indicate that while some residents face relatively modest tax bills, others may experience a more substantial financial impact. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in WAKA must account for these property taxes in their annual budgets, as they directly affect the overall cost of owning a home.
Average Waka Tax Bill
$418
Average Ochiltree County Tax Bill
$1,480
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Waka, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79093 | $56 | $158 | $418 | $790 | $1,790 |
Source: Ownwell