Walnut Springs, Texas Property Taxes
The median property tax rate in Walnut Springs, 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 a median home value of $119,756 in Walnut Springs, the typical annual property tax bill amounts to $1,417, well below the national median of $2,690. Property taxes in Walnut Springs are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Walnut Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Walnut Springs 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
Walnut Springs, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,485
$1,374
Ownwell’s Walnut Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Walnut Springs with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Walnut Springs to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. The assessed value of your property is the value assigned by Bosque County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Walnut Springs, Texas
Property taxes in Walnut Springs, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walnut Springs is 1.24%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Walnut Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walnut Springs 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 Walnut Springs' effective property tax rate to other counties in Texas and the national median. For comparison, the 76690 zip code has the highest median property tax rate of 1.24%, while the 76690 zip code has the lowest median tax rate of 1.24%. Understanding how these cities compare with Walnut Springs provides valuable insights into the varying tax landscape across Bosque County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walnut Springs Tax Rate
1.24%
Average Bosque County Tax Rate
1.22%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walnut Springs, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76690 | 0.64% | 0.98% | 1.24% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Walnut Springs, Texas
In Walnut Springs, 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 Bosque 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 Walnut Springs, 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 Walnut Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $119,756, with the highest and lowest median tax bills both recorded at $1,417 in the 76690 zip code.
Average Walnut Springs Assessed Value
$119,756
Average Bosque County Assessed Value
$159,096
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walnut Springs, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76690 | $21,928 | $58,568 | $119,756 | $211,803 | $316,130 |
Source: Ownwell
Property Tax Bills Across Walnut Springs, Texas
In Walnut Springs, Bosque County, TX, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is typically a percentage of the market value. For instance, with a median home price of $119,756, the property tax bill can vary widely. The 25th percentile tax bill is around $604, while at the 75th percentile, it jumps to $2,543. For those at the 90th percentile, the tax bill can be as high as $3,557. Several factors influence these calculations, including property size, location, and any applicable exemptions. Homeowners in Walnut Springs should be aware that their property tax rate can significantly impact their annual financial planning. Compared to the national median property tax rate of 0.99%, the rates in Walnut Springs can result in a diverse range of tax bills, reflecting the varying assessed values and local tax policies. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Walnut Springs Tax Bill
$1,417
Average Bosque County Tax Bill
$1,864
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Walnut Springs, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76690 | $217 | $604 | $1,417 | $2,543 | $3,557 |
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 | |
|---|---|
| Bosque Appraisal District | |
| Website | esearch.bosquecad.com |