Flower Mound, Texas Property Taxes
The median property tax rate in Flower Mound, TX is 1.74%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Flower Mound at $516,200, the typical annual property tax bill reaches $8,703, exceeding the national median of $2,690. Property taxes in Flower Mound 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 Flower Mound'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 Flower Mound 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
Flower Mound, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Flower Mound, Texas Tax Savings
Ownwell’s Flower Mound Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flower Mound with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flower Mound 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 Flower Mound. 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 Flower Mound, Texas
Property taxes in Flower Mound, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Flower Mound is 1.74%, higher than both the Texas state median of 1.66% and the U.S. national median of 0.99%. Local government entities within Flower Mound set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flower Mound 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 Flower Mound's effective property tax rate to other counties in Texas and the national median. For comparison, the 75022 zip code has the highest median property tax rate of 2.00%, while 75028 has the lowest median tax rate of 1.71%. Understanding how these cities compare with Flower Mound provides valuable insights into the varying tax landscape across Denton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Flower Mound Tax Rate
1.74%
Average Tarrant County Tax Rate
1.70%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flower Mound, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75022 | 1.37% | 1.45% | 2.00% | 2.22% | 2.22% |
| 75028 | 0.27% | 1.46% | 1.71% | 1.86% | 1.92% |
Source: Ownwell
$1,148
Average Flower Mound Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Flower Mound, Texas
In Flower Mound, 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 Tarrant 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 Flower Mound, 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, Flower Mound's median home price stands at $516,200, with tax bills ranging from $1,243 at the 25th percentile to $16,213 at the 90th percentile. The highest median tax bill in the area is $11,393 in the 75022 zip code, while the lowest is $8,531 in the 75028 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 Flower Mound Assessed Value
$516,200
Average Tarrant County Assessed Value
$306,713
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Flower Mound, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75022 | $1,008 | $2,002 | $624,908 | $1,033,957 | $1,899,965 |
| 75028 | $420,000 | $439,456 | $512,386 | $555,480 | $615,880 |
Source: Ownwell
$1,148
Average Flower Mound Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Flower Mound, Texas
In Flower Mound, located in Tarrant County, TX, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $516,200. Homeowners can expect a wide range in their property tax bills, from the 25th percentile at $1,243 to the 90th percentile reaching up to $16,213. Factors influencing these variations include the property's assessed value, local tax rates, and any applicable exemptions. For example, the highest median tax bill in Flower Mound is $11,393 in the 75022 ZIP code, while the lowest median tax bill is $8,531 in the 75028 ZIP code. These figures can significantly impact homeowners' finances, making it crucial to manage and potentially reduce property tax liabilities. Ownwell provides expert property tax appeal and exemption services, helping homeowners in Flower Mound save on their tax bills. By leveraging local market data and understanding the nuances of property assessments, Ownwell can effectively challenge over-assessments and secure exemptions, ensuring homeowners pay only what is fair.
Average Flower Mound Tax Bill
$8,703
Average Tarrant County Tax Bill
$5,114
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Flower Mound, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75022 | $23 | $45 | $11,393 | $17,010 | $27,268 |
| 75028 | $1,243 | $2,459 | $8,531 | $9,670 | $10,776 |
Source: Ownwell
$1,148
Average Flower Mound Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 24 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Tarrant Appraisal District | |
| Phone | (817) 284-0024 |
| Website | www.tad.org |
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