Toyahvale, Texas Property Taxes
The median property tax rate in Toyahvale, TX is 1.21%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $266,308, the typical annual property tax bill in Toyahvale amounts to $3,217, surpassing the national median of $2,690. Property taxes in Toyahvale are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Toyahvale'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 Toyahvale or another part of Reeves County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Toyahvale, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$3,222
$2,981
Ownwell’s Toyahvale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toyahvale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toyahvale 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 Toyahvale, Texas
Property taxes in Toyahvale, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toyahvale is 1.21%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Toyahvale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toyahvale 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 Toyahvale's effective property tax rate to other counties in Texas and the national median. For comparison, the 79786 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Toyahvale provides valuable insights into the varying tax landscape across Reeves County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Toyahvale Tax Rate
1.21%
Average Reeves County Tax Rate
2.02%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toyahvale, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79786 | 1.21% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Toyahvale, Texas
In Toyahvale, 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 Reeves 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 Toyahvale, 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 Toyahvale is $266,308, with the highest median tax bill being $3,217 in the 79786 zip code. 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 Toyahvale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Toyahvale Assessed Value
$266,308
Average Reeves County Assessed Value
$66,998
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Toyahvale, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79786 | $266,308 | $266,308 | $266,308 | $266,308 | $266,308 |
Source: Ownwell
Property Tax Bills Across Toyahvale, Texas
In Toyahvale, located in Reeves County, TX, property tax bills are calculated based on the assessed value of a property. The local tax authority assesses the value of each home, which is then multiplied by the property tax rate to determine the annual tax bill. The median home price in Toyahvale is $266,308, and the property tax bill for most homeowners falls around $3,217, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the assessed value, including the home's market value, location, and physical condition. These assessments are periodically updated to reflect market changes, ensuring that tax bills remain fair and accurate. For homeowners, this means that improvements or changes in the housing market can directly impact their annual tax obligations. High property taxes can affect affordability and the overall cost of homeownership, making it crucial for residents to stay informed about their property's assessed value and any potential exemptions they may qualify for.
Average Toyahvale Tax Bill
$3,217
Average Reeves County Tax Bill
$1,283
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Toyahvale, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79786 | $3,217 | $3,217 | $3,217 | $3,217 | $3,217 |
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 | |
|---|---|
| Reeves Appraisal District | |
| Website | esearch.reevescad.org |