Mabank, Texas Property Taxes
The median property tax rate in Mabank, TX is 0.74%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Mabank at $222,470, the typical annual property tax bill is $1,304, well below the national median of $2,690. Property taxes in Mabank 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 Mabank'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 Mabank or another part of Van Zandt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mabank, 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 Mabank, Texas Tax Savings
Ownwell’s Mabank Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mabank with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mabank 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 Mabank. 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 Mabank, Texas
Property taxes in Mabank, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mabank is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Mabank set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mabank 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 Mabank's effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 75156 has the highest median property tax rate of 1.17%, while the zip code 75147 has the lowest median tax rate of 0.74%. Understanding how these cities compare with Mabank provides valuable insights into the varying tax landscape across Van Zandt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mabank Tax Rate
0.74%
Average Van Zandt County Tax Rate
0.90%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mabank, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75147 | 0.15% | 0.30% | 0.74% | 1.52% | 1.52% |
| 75156 | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
$1,148
Average Mabank Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Mabank, Texas
In Mabank, 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 Van Zandt 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 Mabank, 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. For instance, the highest median tax bill in the 75156 zip code is $4,598, while the lowest median tax bill in the 75147 zip code is $1,299. Being aware of these valuation processes in Mabank helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mabank Assessed Value
$222,470
Average Van Zandt County Assessed Value
$183,735
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mabank, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75147 | $47,920 | $106,832 | $222,340 | $383,898 | $580,295 |
| 75156 | $392,440 | $392,440 | $392,440 | $392,440 | $392,440 |
Source: Ownwell
$1,148
Average Mabank Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Mabank, Texas
In Mabank, located in Van Zandt County, TX, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The median home price in Mabank is $222,470, and homeowners face varying tax bills depending on their property’s assessed value. For instance, the 25th percentile tax bill is $480, while the 75th percentile tax bill is $2,918 and the 90th percentile tax bill reaches $4,880. The highest median tax bill in the area is $4,598 in the 75156 zip code, whereas the lowest is $1,299 in the 75147 zip code. Several factors influence these tax bills, including property size, location, and any applicable exemptions. High property tax bills can significantly impact homeowners, making it crucial to ensure accurate assessments. Ownwell helps homeowners in Mabank by providing expert property tax appeal and exemption services. By leveraging local knowledge and experience, Ownwell can identify discrepancies in assessed values and secure potential savings, ultimately reducing the financial burden on homeowners.
Average Mabank Tax Bill
$1,304
Average Van Zandt County Tax Bill
$1,296
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mabank, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75147 | $188 | $480 | $1,299 | $2,916 | $4,881 |
| 75156 | $4,598 | $4,598 | $4,598 | $4,598 | $4,598 |
Source: Ownwell
$1,148
Average Mabank Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 17 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Van Zandt Appraisal District | |
| Website | esearch.vzcad.org |
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