Mccoy, Texas Property Taxes
The median property tax rate in McCoy, TX is 1.35%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $125,600 in McCoy, the typical annual property tax bill amounts to $1,586, falling below the national median of $2,690. Property taxes in McCoy are calculated based on the tax assessed value, which generally is lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding McCoy'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 McCoy or another part of Wilson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mccoy, 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 McCoy Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in McCoy with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in McCoy to provide an accurate estimate of your property tax bill. This tool is designed to offer a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Wilson County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Mccoy, Texas
Property taxes in McCoy, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McCoy is 1.35%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within McCoy set these rates annually, and they can vary significantly across different neighborhoods. Each year, McCoy 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 McCoy's effective property tax rate to other counties in Texas and the national median. For comparison, the 78113 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with McCoy provides valuable insights into the varying tax landscape across Wilson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mccoy Tax Rate
1.35%
Average Wilson County Tax Rate
1.61%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mccoy, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78113 | 0.78% | 1.07% | 1.35% | 1.67% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Mccoy, Texas
In McCoy, 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 Wilson 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 McCoy, 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 example, in McCoy, the median home price is $125,600, and the median tax bill ranges from $746 at the 25th percentile to $3,633 at the 90th percentile. The zip code 78113 has both the highest and lowest median tax bill, which is $1,586. Being aware of these valuation processes in McCoy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mccoy Assessed Value
$125,600
Average Wilson County Assessed Value
$215,505
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mccoy, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78113 | $31,942 | $50,662 | $125,600 | $224,138 | $417,331 |
Source: Ownwell
Property Tax Bills Across Mccoy, Texas
In McCoy, property tax bills are determined based on the assessed value of a property, which is typically a percentage of its market value. Homeowners in Wilson County can expect their property tax bills to vary significantly depending on the value of their homes. For example, the median home price in McCoy is $125,600. Various factors such as property size, location, and improvements are considered when assessing the value. The tax bill for a property in the 25th percentile is around $746, while those in the 75th percentile receive bills closer to $2,060. At the 90th percentile, homeowners might see tax bills as high as $3,633. These figures highlight the range of tax burdens residents can face, significantly impacting their financial planning. Compared to the national median property tax rate of 0.99%, the rates in McCoy can be higher or lower depending on the specific property and its assessed value. Understanding these factors can help homeowners anticipate their annual property tax obligations more accurately.
Average Mccoy Tax Bill
$1,586
Average Wilson County Tax Bill
$3,078
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mccoy, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78113 | $471 | $746 | $1,586 | $2,060 | $3,633 |
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 | |
|---|---|
| Wilson Appraisal District | |
| Website | propaccess.trueautomation.com |