Thornton, Texas Property Taxes
The median property tax rate in Thornton, TX is 0.37%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Thornton at $238,775, the typical annual property tax bill reaches $720, significantly below the national median of $2,690. Property taxes in Thornton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Thornton'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 Thornton 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
Thornton, 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 Thornton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thornton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thornton 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 Thornton, Texas
Property taxes in Thornton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thornton is 1.75%, higher than both the Texas state median of 1.9% and the U.S. national median of 0.99%. Local government entities within Thornton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thornton 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 Thornton's effective property tax rate to other counties in Texas and the national median. For comparison, the 77494 zip code has the highest median property tax rate of 2.51%, while the 79936 zip code has the lowest median tax rate of 1.5%. Understanding how these cities compare with Thornton provides valuable insights into the varying tax landscape across Robertson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thornton Tax Rate
0.37%
Average Robertson County Tax Rate
1.09%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thornton, Texas
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
76687 | 0.15% | 0.28% | 0.37% | 0.44% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Thornton, Texas
In Thornton, 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 Robertson 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 Thornton, 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 Thornton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Thornton is 76687, with a median tax bill of $720.
Average Thornton Assessed Value
$238,775
Average Robertson County Assessed Value
$118,900
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thornton, Texas
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
76687 | $34,501 | $93,293 | $238,775 | $419,331 | $574,060 |
Source: Ownwell
Property Tax Bills Across Thornton, Texas
In Thornton, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. This assessed value is then multiplied by the property tax rate set by local taxing authorities. For homeowners in Thornton, the median home price is $238,775. Property tax bills can vary significantly, with the 25th percentile tax bill being $305 and the 75th percentile reaching $1,283. For those in the 90th percentile, tax bills can be as high as $1,993. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services such as schools, emergency services, and infrastructure. Homeowners in Thornton should be aware that their tax bills can fluctuate based on changes in property values and tax rates. Compared to the national median property tax rate of 0.99%, Thornton's rates provide a context for understanding local tax burdens and planning accordingly.
Average Thornton Tax Bill
$720
Average Robertson County Tax Bill
$993
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Thornton, Texas
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
76687 | $136 | $305 | $720 | $1,283 | $1,993 |
Source: Ownwell