Wharton, Texas Property Taxes
The median property tax rate in Wharton, TX is 1.56%, which is higher than the national median of 0.99% but slightly lower than the Texas state median of 1.67%. With the median home value in Wharton at $125,242, the typical annual property tax bill amounts to $1,658, which is below the national median of $2,690. Property taxes in Wharton are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wharton’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 Wharton 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
Wharton, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Wharton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wharton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wharton 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 Wharton, Texas
Property taxes in Wharton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wharton is 1.56%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wharton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wharton 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 Wharton's effective property tax rate to other counties in Texas and the national median. For comparison, the 77488 zip code has the highest median property tax rate of 1.56%, while the 77488 zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Wharton provides valuable insights into the varying tax landscape across Wharton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wharton Tax Rate
1.56%
Average Wharton County Tax Rate
1.63%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wharton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77488 | 0.63% | 1.08% | 1.56% | 1.93% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Wharton, Texas
In Wharton, 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 Wharton 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 Wharton, 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 Wharton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wharton is $1,658 in the 77488 zip code, while the lowest median tax bill is also $1,658 in the same zip code, reflecting a consistent tax environment within the city.
Average Wharton Assessed Value
$125,242
Average Wharton County Assessed Value
$120,245
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wharton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77488 | $25,998 | $60,161 | $125,242 | $195,424 | $279,483 |
Source: Ownwell
Property Tax Bills Across Wharton, Texas
In Wharton, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $125,242, homeowners can expect varying tax bills. The 25th percentile tax bill is around $718, while those in the 75th percentile pay approximately $2,949. At the 90th percentile, the tax bill can reach up to $4,260. Factors influencing these calculations include the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Wharton should be aware that their property tax rate may differ from the national median property tax rate of 0.99%, impacting the overall tax burden. Understanding these elements helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Wharton Tax Bill
$1,658
Average Wharton County Tax Bill
$1,730
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wharton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77488 | $275 | $718 | $1,658 | $2,949 | $4,260 |
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 | |
|---|---|
| Wharton Appraisal District | |
| Website | esearch.whartoncad.net |