Clayton, Texas Property Taxes
The median property tax rate in Clayton, TX is 1.51%, which is significantly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $35,030, the typical annual property tax bill in Clayton reaches $530, considerably below the national median of $2,690. Property taxes in Clayton are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Clayton'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 Clayton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clayton, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$529
$489
Ownwell’s Clayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayton 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 Clayton, Texas
Property taxes in Clayton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clayton is 1.51%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Clayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayton 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 Clayton's effective property tax rate to other counties in Texas and the national median. For comparison, the 75637 zip code has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Clayton provides valuable insights into the varying tax landscape across Panola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clayton Tax Rate
1.51%
Average Panola County Tax Rate
1.51%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75637 | 1.44% | 1.51% | 1.51% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Clayton, Texas
In Clayton, 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 Panola 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. Assessment notices in Clayton 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 Clayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Clayton is $35,030, with the highest and lowest median tax bills both at $530 in the 75637 zip code.
Average Clayton Assessed Value
$35,030
Average Panola County Assessed Value
$71,020
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clayton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75637 | $20,364 | $25,680 | $35,030 | $65,330 | $86,678 |
Source: Ownwell
Property Tax Bills Across Clayton, Texas
In Clayton, Panola County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Clayton is $35,030, which serves as a baseline for determining property taxes. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, homeowners in the 25th percentile can expect a tax bill around $389, while those in the 75th percentile might see bills closer to $915. At the 90th percentile, tax bills can reach up to $1,277. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions. The highest median tax bill in the area is $530, found in the 75637 zip code. Comparing these figures to the national median property tax rate of 0.99%, Clayton's property taxes are relatively modest. This affects homeowners by providing a more affordable living situation, allowing them to allocate funds to other expenses or investments.
Average Clayton Tax Bill
$530
Average Panola County Tax Bill
$1,139
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75637 | $308 | $389 | $530 | $915 | $1,277 |
Source: Ownwell