Texarkana, Texas Property Taxes
The median property tax rate in Texarkana, TX is 2.05%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Texarkana at $131,086, the typical annual property tax bill reaches $2,426, which is below the national median of $2,690. Property taxes in Texarkana are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Texarkana'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 Texarkana 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
Texarkana, 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 Texarkana Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Texarkana. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Texarkana to provide an estimate of your property tax bill. This helps you gain a clear understanding of your potential tax liabilities. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Remember, your property’s assessed value is determined by Bowie County and includes any applicable exemptions, ensuring an accurate calculation for your tax planning needs.
Property Tax Rates Across Texarkana, Texas
Property taxes in Texarkana, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Texarkana is 2.05%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Texarkana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Texarkana 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 Texarkana's effective property tax rate to other counties in Texas and the national median. For comparison, the 75504 zip code has the highest median property tax rate of 2.37%, while the 75501 zip code has the lowest median tax rate of 1.49%. Understanding how these cities compare with Texarkana provides valuable insights into the varying tax landscape across Bowie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Texarkana Tax Rate
2.05%
Average Bowie County Tax Rate
1.79%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Texarkana, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75501 | 1.28% | 1.47% | 1.49% | 2.24% | 2.37% |
| 75503 | 1.58% | 1.74% | 2.16% | 2.25% | 2.37% |
| 75504 | 2.37% | 2.37% | 2.37% | 2.37% | 2.37% |
| 75599 | 1.35% | 1.94% | 2.37% | 2.37% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Texarkana, Texas
In Texarkana, 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 Bowie 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 Texarkana, 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. The median home price in Texarkana is $131,086, with tax bills ranging significantly. For instance, the highest median tax bill is $13,672 in the 75504 zip code, while the lowest is $423 in the 75599 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Texarkana Assessed Value
$131,086
Average Bowie County Assessed Value
$119,330
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Texarkana, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75501 | $13,437 | $31,794 | $81,262 | $155,604 | $275,374 |
| 75503 | $58,882 | $127,932 | $207,570 | $311,688 | $452,737 |
| 75504 | $276,458 | $389,304 | $577,380 | $724,859 | $813,346 |
| 75599 | $6,274 | $12,623 | $21,536 | $38,644 | $120,958 |
Source: Ownwell
Property Tax Bills Across Texarkana, Texas
In Texarkana, located in Bowie County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county's appraisal district. The assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Various factors, including the property's location, size, and market conditions, influence this assessed value. For homeowners, the tax burden can vary significantly. The 25th percentile tax bill is around $975, while the 75th percentile tax bill reaches approximately $4,432. At the higher end, the 90th percentile tax bill can be as much as $6,838. Comparatively, the highest median tax bill in the area is $13,672, found in zip code 75504, whereas the lowest median tax bill is $423 in zip code 75599. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Homeowners must budget for these expenses, which can vary widely depending on their property's assessed value and location.
Average Texarkana Tax Bill
$2,426
Average Bowie County Tax Bill
$2,049
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Texarkana, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75501 | $252 | $608 | $1,446 | $2,565 | $4,037 |
| 75503 | $1,217 | $2,692 | $4,238 | $6,311 | $8,918 |
| 75504 | $6,546 | $9,218 | $13,672 | $17,164 | $19,259 |
| 75599 | $115 | $291 | $423 | $915 | $1,745 |
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 | |
|---|---|
| Bowie Appraisal District | |
| Website | bowieappraisal.com |