Electra, Texas Property Taxes
The median property tax rate in Electra, TX is 1.69%, which is considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $74,455 in Electra, the typical annual property tax bill reaches $1,151, though it remains below the national median of $2,690. Property taxes in Electra are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Electra'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 Electra 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
Electra, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$1,258
$1,164
Ownwell’s Electra Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Electra with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Electra 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 Electra, Texas
Property taxes in Electra, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Electra is 1.69%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Electra set these rates annually, and they can vary significantly across different neighborhoods. Each year, Electra 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 Electra's effective property tax rate to other counties in Texas and the national median. For comparison, the 76360 zip code has the highest median property tax rate of 1.69%, while the 76360 zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Electra provides valuable insights into the varying tax landscape across Archer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Electra Tax Rate
1.69%
Average Archer County Tax Rate
1.73%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Electra, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76360 | 1.00% | 1.39% | 1.69% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Electra, Texas
In Electra, 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 Archer 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 Electra, 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 Electra helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 76360 has the highest and lowest median tax bill at $1,151.
Average Electra Assessed Value
$74,455
Average Archer County Assessed Value
$147,930
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Electra, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76360 | $30,804 | $47,805 | $74,455 | $115,352 | $157,999 |
Source: Ownwell
Property Tax Bills Across Electra, Texas
In Electra, located in Archer County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Electra stands at $74,455. Homeowners can expect their tax bills to vary widely depending on the assessed value of their property. For instance, the tax bill at the 25th percentile is approximately $775, while those at the 75th percentile can reach up to $1,446. The highest median tax bill recorded in the area is $1,151 for properties within the 76360 zip code. Several factors influence the final tax bill, including the home's assessed value and the specific tax rate set by local authorities. This tax rate is applied to the assessed value to determine the annual property tax owed. For homeowners, understanding these components is crucial as it directly impacts their annual expenses. Compared to the national median property tax rate of 0.99%, Electra's tax rates can significantly influence the affordability and budgeting for homeowners in the area.
Average Electra Tax Bill
$1,151
Average Archer County Tax Bill
$2,292
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Electra, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76360 | $518 | $775 | $1,151 | $1,446 | $1,558 |
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 | |
|---|---|
| Archer Appraisal District | |
| Website | www.archercad.org |