Kilgore, Texas Property Taxes
The median property tax rate in Kilgore, TX is 1.94%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Kilgore at $141,160, the typical annual property tax bill reaches $2,777, exceeding the national median of $2,690. Property taxes in Kilgore 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 Kilgore'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 Kilgore 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
Kilgore, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$2,739
$2,534
Ownwell’s Kilgore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kilgore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kilgore 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 Kilgore, Texas
Property taxes in Kilgore, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kilgore is 1.94%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Kilgore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kilgore 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 Kilgore's effective property tax rate to other counties in Texas and the national median. For comparison, the 75662 zip code has the highest median property tax rate of 1.94%, while the lowest median tax rate is also 1.94%. Understanding how these cities compare with Kilgore provides valuable insights into the varying tax landscape across Rusk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kilgore Tax Rate
1.94%
Average Rusk County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kilgore, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75662 | 1.19% | 1.71% | 1.94% | 2.31% | 2.46% |
Source: Ownwell
Property Tax Assessment Values Across Kilgore, Texas
In Kilgore, 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 Rusk 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 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 Kilgore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kilgore is $141,160, with tax bills ranging from $1,467 at the 25th percentile to $5,795 at the 90th percentile. The zip code with the highest and lowest median tax bill is 75662, at $2,777.
Average Kilgore Assessed Value
$141,160
Average Rusk County Assessed Value
$113,250
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kilgore, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75662 | $36,376 | $81,080 | $141,160 | $209,170 | $332,888 |
Source: Ownwell
Property Tax Bills Across Kilgore, Texas
In Kilgore, located in Rusk County, TX, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district, which estimates the market value of the property. Homeowners in Kilgore can expect a median home price of $141,160. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, improvements, and market conditions are considered during the assessment. For instance, tax bills in Kilgore range significantly, with the 25th percentile at $1,467 and the 75th percentile at $4,225. High-value properties see even higher tax bills, with the 90th percentile reaching up to $5,795. Compared to the national median property tax rate of 0.99%, Kilgore's tax rates may vary, impacting homeowners differently based on their property's assessed value. This variation in tax bills affects homeowners' financial planning and overall cost of living in the area.
Average Kilgore Tax Bill
$2,777
Average Rusk County Tax Bill
$1,761
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Kilgore, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75662 | $560 | $1,467 | $2,777 | $4,225 | $5,795 |
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 | |
|---|---|
| Rusk Appraisal District | |
| Website | www.ruskcad.org |