Overton, Texas Property Taxes
The median property tax rate in Overton, TX is 1.51%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $103,414 in Overton, the typical annual property tax bill amounts to $1,384, significantly below the national median of $2,690. Property taxes in Overton are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Overton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Overton or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Overton, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$1,562
$1,445
$1,148
Average Overton, Texas Tax Savings
Ownwell’s Overton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Overton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Overton to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Overton. 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 Overton, Texas
Property taxes in Overton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Overton is 1.51%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Overton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Overton 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 Overton's effective property tax rate to other counties in Texas and the national median. For comparison, the 75684 zip code has the highest median property tax rate of 1.51%, while the 75684 zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Overton provides valuable insights into the varying tax landscape across Smith County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Overton Tax Rate
1.51%
Average Smith County Tax Rate
1.53%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Overton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75684 | 1.01% | 1.21% | 1.51% | 1.51% | 1.96% |
Source: Ownwell
$1,148
Average Overton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Overton, Texas
In Overton, 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 Smith 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 Overton, 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 Overton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 75684, amounting to $1,384, while the lowest is also 75684 at $1,384.
Average Overton Assessed Value
$103,414
Average Smith County Assessed Value
$202,951
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Overton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75684 | $10,582 | $31,584 | $103,414 | $170,513 | $244,211 |
Source: Ownwell
$1,148
Average Overton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Overton, Texas
In Overton, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. For instance, the median home price in Overton is $103,414. Tax bills can vary significantly, with the 25th percentile paying around $443 and the 90th percentile seeing bills as high as $3,561. These variations depend on factors such as property size, location, and any applicable exemptions. Higher property taxes can be a financial burden for homeowners, impacting monthly budgets and long-term savings. This is where Ownwell can make a difference. By offering expert property tax appeal and exemption services, Ownwell helps homeowners ensure their property is assessed fairly, potentially lowering their tax bills. With the highest median tax bill in the area being $1,384, there's substantial room for savings. Let Ownwell's expertise work for you to reduce your property tax burden and keep more money in your pocket.
Average Overton Tax Bill
$1,384
Average Smith County Tax Bill
$2,997
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Overton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75684 | $157 | $443 | $1,384 | $2,520 | $3,561 |
Source: Ownwell
$1,148
Average Overton Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 22 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Smith Appraisal District | |
| Phone | (903) 510-8600 |
| Website | www.smithcad.org |
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