Vernon, Texas Property Taxes

The median property tax rate in Vernon, TX is 2.02%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Vernon at $62,260, the typical annual property tax bill reaches $1,008, which is below the national median of $2,690. Property taxes in Vernon 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 Vernon'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 Vernon or another part of Wilbarger County, understanding the local property tax system will benefit both homeowners and real estate investors.

Last Updated June 14, 2024

Vernon, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$2,500,000

$5,000,000

Average Tax Rate

1.67%

Estimate Property Tax Bill

$3,340

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

Property taxes in Vernon, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vernon is 2.02%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Vernon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vernon 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 Vernon's effective property tax rate to other counties in Texas and the national median. For comparison, the 76384 zip code has the highest median property tax rate of 2.02%, while the 76384 zip code also has the lowest median tax rate of 2.02%. Understanding how these cities compare with Vernon provides valuable insights into the varying tax landscape across Wilbarger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Vernon, Texas

Source: Ownwell

1.57%

1.79%

2.02%

Average Vernon Tax Rate

2.02%

Average Wilbarger County Tax Rate

1.98%

Average Texas Tax Rate

1.67%

Average United States Tax Rate

0.99%

Property Tax Rates Across Vernon, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
76384	0.41%	1.67%	2.02%	2.33%	2.33%
76385	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Vernon, Texas

In Vernon, 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 Wilbarger 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 Vernon, 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. The median home price in Vernon is $62,260, with tax bills varying significantly. The 25th percentile tax bill is $549, while the 75th percentile reaches $1,894, and the 90th percentile goes up to $3,147. The highest and lowest median tax bills are both $1,009 in the 76384 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.

Property Tax Assessment Values Across Vernon, Texas

Source: Ownwell

$36,420

$49,315

$62,210

Average Vernon Assessed Value

$62,260

Average Wilbarger County Assessed Value

$62,920

Average Texas Assessed Value

$247,950

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Vernon, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
76384	$18,428	$33,380	$62,210	$136,755	$235,902
76385	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Vernon, Texas

In Vernon, located in Wilbarger County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county appraisal district and reflects the market value of the property. Homeowners in Vernon can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is $549, while at the 75th percentile, it jumps to $1,894, and at the 90th percentile, it reaches $3,147. These figures suggest that property taxes in Vernon can be a substantial annual expense for homeowners, especially when compared to the national median property tax rate of 0.99%. For a median home price of $62,260, even the lower-end tax bills can be significant. Factors such as improvements to the property, changes in the local tax rate, and fluctuations in the real estate market can all influence the final amount. Understanding these elements is crucial for homeowners to manage their financial planning effectively and anticipate their annual property tax obligations.

Property Tax Bills Across Vernon, Texas

Source: Ownwell

$652

$831

$1,009

Average Vernon Tax Bill

$1,008

Average Wilbarger County Tax Bill

$986

Average Texas Tax Bill

$3,971

Average United States Tax Bill

$2,690

Property Tax Bills Across Vernon, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
76384	$241	$549	$1,009	$1,897	$3,149
76385	N/A	N/A	N/A	N/A	N/A

Source: Ownwell