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Forest Hill, Texas Property Taxes

The median property tax rate in Forest Hill, TX is 1.69%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Forest Hill, the typical annual property tax bill reaches $2,854, exceeding the national median of $2,690. Property taxes in Forest Hill 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 Forest Hill'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 Forest Hill 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

Forest Hill, 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

SAVE WITH OWNWELL

$1,148

Average Forest Hill, Texas Tax Savings

Ownwell’s Forest Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forest Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forest Hill 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 Forest Hill. 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 Forest Hill, Texas

Property taxes in Forest Hill, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forest Hill is 1.69%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Forest Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forest Hill 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 Forest Hill's effective property tax rate to other counties in Texas and the national median. For comparison, the 76140 zip code has the highest median property tax rate of 1.78%, while the 76119 zip code has the lowest median tax rate of 1.58%. Understanding how these cities compare with Forest Hill provides valuable insights into the varying tax landscape across Tarrant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Forest Hill, Texas

Source: Ownwell

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0.23%

1.40%

2.58%

Average Forest Hill Tax Rate

1.69%

Average Tarrant County Tax Rate

1.70%

Average Texas Tax Rate

1.67%

Average United States Tax Rate

0.99%

Property Tax Rates Across Forest Hill, Texas

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
761190.36%0.72%1.58%2.24%2.47%
761400.66%1.05%1.78%2.15%2.48%

Source: Ownwell

Property Tax Assessment Values Across Forest Hill, Texas

In Forest Hill, 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 Forest Hill, 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, the median home price in Forest Hill is $182,977, with tax bills ranging from $1,438 at the 25th percentile to $4,002 at the 75th percentile. The highest median tax bill, $3,052, is found in zip code 76140, while the lowest median tax bill, $2,585, is in zip code 76119. 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 Forest Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.

Property Tax Assessment Values Across Forest Hill, Texas

Source: Ownwell

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$13,373

$1,524,308

$3,035,243

Average Forest Hill Assessed Value

$182,977

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 Forest Hill, Texas

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
76119$125,807$148,522$177,685$220,000$257,493
76140$138,148$155,149$191,014$218,027$257,420

Source: Ownwell

Property Tax Bills Across Forest Hill, Texas

In Forest Hill, Tarrant County, TX, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The local tax rate is then applied to this assessed value. For instance, with a median home price of $182,977, homeowners can expect to pay property taxes within a range, with the 25th percentile tax bill at $1,438 and the 75th percentile reaching $4,002. The highest median tax bill in the area is $3,052 in the 76140 zip code, while the lowest is $2,585 in the 76119 zip code. These figures highlight the variability in tax burdens across different neighborhoods. Factors influencing property tax bills include the home's assessed value, local tax rates, and any applicable exemptions. High property taxes can significantly impact homeowners, making it essential to explore potential savings. Ownwell offers expert property tax appeal and exemption services, helping homeowners navigate the complexities of assessments and reduce their tax burdens, ensuring they pay only their fair share.

Property Tax Bills Across Forest Hill, Texas

Source: Ownwell

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$136

$20,349

$40,562

Average Forest Hill Tax Bill

$2,854

Average Tarrant County Tax Bill

$5,114

Average Texas Tax Bill

$3,971

Average United States Tax Bill

$2,690

Property Tax Bills Across Forest Hill, Texas

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
76119$594$1,223$2,585$3,901$5,118
76140$1,072$1,891$3,052$4,167$5,020

Source: Ownwell

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