Jermyn, Texas Property Taxes
The median property tax rate in Jermyn, TX is 0.91%, which is lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $335,385, the typical annual property tax bill in Jermyn amounts to $1,029, significantly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. By understanding Jermyn's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Jermyn or another part of Young County, being well-versed in the local property tax system will be advantageous.
Last Updated June 14, 2024
Jermyn, 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 Jermyn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jermyn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jermyn 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 Jermyn, Texas
Property taxes in Jermyn, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jermyn is 0.91%, which is lower than both the Texas state median of 1.6% and the U.S. national median of 0.99%. Local government entities within Jermyn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jermyn 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 Jermyn's effective property tax rate to other counties in Texas and the national median. For comparison, the 76459 zip code has the highest median property tax rate of 0.91%, while the 76459 zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Jermyn provides valuable insights into the varying tax landscape across Young County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jermyn Tax Rate
0.91%
Average Young County Tax Rate
2.25%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jermyn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76459 | 0.21% | 0.47% | 0.91% | 1.34% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Jermyn, Texas
In Jermyn, 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 Young 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 Jermyn, 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 Jermyn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 76459 has the highest and lowest median tax bill of $1029, highlighting the importance of understanding your specific situation.
Average Jermyn Assessed Value
$335,385
Average Young County Assessed Value
$91,060
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jermyn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76459 | $151,869 | $220,688 | $335,385 | $450,082 | $518,901 |
Source: Ownwell
Property Tax Bills Across Jermyn, Texas
In Jermyn, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's market value, location, and any exemptions for which the homeowner qualifies play a crucial role in this calculation. For example, in Jermyn, the 25th percentile tax bill is around $600, while the 75th percentile tax bill is approximately $1,458, and the 90th percentile tax bill can reach up to $1,716. These figures highlight the range of property taxes homeowners might expect to pay, depending on their property's assessed value and applicable tax rates. Compared to the national median property tax rate of 0.99%, Jermyn's property taxes can be relatively moderate, making it an appealing location for homeowners looking for manageable tax obligations. Understanding these factors can help homeowners anticipate their annual tax expenses and plan accordingly.
Average Jermyn Tax Bill
$1,029
Average Young County Tax Bill
$1,705
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Jermyn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76459 | $343 | $600 | $1,029 | $1,458 | $1,716 |
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 | |
|---|---|
| Young Appraisal District | |
| Website | esearch.youngcad.org |