Florence, Texas Property Taxes
The median property tax rate in Florence, TX is 1.24%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Florence, the typical annual property tax bill reaches $733, significantly below the national median of $2,690. Property taxes in Florence are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Florence'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 Florence 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
Florence, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$689
$637
$1,148
Average Florence, Texas Tax Savings
Ownwell’s Florence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Florence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Florence to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Florence. 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 Florence, Texas
Property taxes in Florence, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Florence is 1.24%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Florence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Florence 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 Florence's effective property tax rate to other counties in Texas and the national median. For comparison, the 76527 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Florence provides valuable insights into the varying tax landscape across Bell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Florence Tax Rate
1.24%
Average Bell County Tax Rate
1.50%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Florence, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76527 | 0.35% | 0.79% | 1.24% | 1.63% | 1.73% |
Source: Ownwell
$1,148
Average Florence Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Florence, Texas
In Florence, Texas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Bell 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. Assessment notices in Florence 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. The median home price in Florence is $55,542, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $127, while the 75th percentile tax bill is $2,518. The highest median tax bill in the area is $733, found in the 76527 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Florence Assessed Value
$55,542
Average Bell County Assessed Value
$243,415
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Florence, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76527 | $5,342 | $12,042 | $55,542 | $246,466 | $450,683 |
Source: Ownwell
$1,148
Average Florence Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Florence, Texas
In Florence, Bell County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $55,542, homeowners can expect varying tax bills, from the 25th percentile at $127 to the 90th percentile reaching up to $4,393. These values highlight the significant range in property tax burdens within the area. Homeowners in Florence face tax rates that can be notably higher than the national median property tax rate of 0.99%. This can place a substantial financial burden on property owners. Ownwell can assist by providing expert property tax appeal and exemption services, potentially reducing the assessed value of your home and, consequently, your tax bill. By leveraging specialized knowledge and local expertise, Ownwell ensures that you pay only your fair share in property taxes, helping you save money and achieve financial peace of mind.
Average Florence Tax Bill
$733
Average Bell County Tax Bill
$3,265
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Florence, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76527 | $78 | $127 | $733 | $2,518 | $4,393 |
Source: Ownwell
$1,148
Average Florence Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Bell Appraisal District | |
| Phone | (254) 939-5841 |
| Website | esearch.bellcad.org |
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