Big Lake, Texas Property Taxes
The median property tax rate in Big Lake, TX is 2.32%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Big Lake, the typical annual property tax bill reaches $654, which is notably below the national median of $2,690. Property taxes in Big Lake are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Big Lake'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 Big Lake or another part of Reagan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Big Lake, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.32%
Estimate Property Tax Bill
$748
$692
Ownwell’s Big Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Lake 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 Big Lake, Texas
Property taxes in Big Lake, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Lake is 2.32%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Big Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Lake 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 Big Lake's effective property tax rate to other counties in Texas and the national median. For comparison, the 76932 zip code has the highest median property tax rate of 2.32%, while the same zip code also has the lowest median tax rate of 2.32%. Understanding how these cities compare with Big Lake provides valuable insights into the varying tax landscape across Reagan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Lake Tax Rate
2.32%
Average Reagan County Tax Rate
2.32%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Lake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76932 | 1.31% | 1.35% | 2.32% | 2.32% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Big Lake, Texas
In Big Lake, 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 Reagan 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 Big Lake, 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. For instance, the median home price in Big Lake is $32,260. The 25th percentile tax bill is $334, while the 75th percentile tax bill is $1,359. The highest and lowest median tax bills in the area are both $654, found in the 76932 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Big Lake Assessed Value
$32,260
Average Reagan County Assessed Value
$33,488
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Lake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76932 | $7,162 | $16,469 | $32,260 | $73,276 | $144,780 |
Source: Ownwell
Property Tax Bills Across Big Lake, Texas
In Big Lake, Texas, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the home's location, size, and market conditions influence the assessed value. In Reagan County, the median home price stands at $32,260, with property tax bills ranging from $334 at the 25th percentile to $2,668 at the 90th percentile. The median tax bill in the highest and lowest zip codes within the county is $654, reflecting a relatively consistent tax burden across the area. Compared to the national median property tax rate of 0.99%, homeowners in Big Lake may find their tax rates more favorable, potentially easing the financial burden. However, the variability in tax bills highlights the importance of understanding local property assessments and tax rates. Homeowners should stay informed about these factors to effectively manage their property tax obligations.
Average Big Lake Tax Bill
$654
Average Reagan County Tax Bill
$659
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Lake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76932 | $140 | $334 | $654 | $1,359 | $2,668 |
Source: Ownwell