Smithwick, Texas Property Taxes
The median property tax rate in Smithwick, TX is 1.05%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Smithwick at $260,163, the typical annual property tax bill amounts to $2,737, which is close to the national median of $2,690. Property taxes in Smithwick are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Smithwick'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 Smithwick 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
Smithwick, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Smithwick, Texas Tax Savings
Ownwell’s Smithwick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Smithwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smithwick 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 Smithwick. 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 Smithwick, Texas
Property taxes in Smithwick, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Smithwick is 1.05%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Smithwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smithwick 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 Smithwick's effective property tax rate to other counties in Texas and the national median. For comparison, the highest median property tax rate in Texas is found in 77494 with a rate of 2.18%, while the lowest median tax rate is in 77447 with a rate of 1.01%. Understanding how these cities compare with Smithwick provides valuable insights into the varying tax landscape across Burnet County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Smithwick Tax Rate
1.05%
Average Burnet County Tax Rate
1.20%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Smithwick, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Smithwick Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Smithwick, Texas
In Smithwick, 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 Burnet 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 Smithwick, 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 Smithwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Smithwick Assessed Value
$260,163
Average Burnet County Assessed Value
$355,573
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Smithwick, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Smithwick Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Smithwick, Texas
In Smithwick, located in Burnet County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $260,163, homeowners in Smithwick can expect tax bills around $2,737, which is consistent across various percentiles. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and the specific tax rates set by local jurisdictions. High property taxes can significantly impact homeowners' finances, making it crucial to ensure that the assessed value accurately reflects the market value. Ownwell assists homeowners by providing expert property tax appeal and exemption services. By analyzing your property's assessed value and comparing it to market trends, Ownwell can identify discrepancies and file appeals on your behalf. This process can lead to substantial savings, ensuring you only pay your fair share in property taxes.
Average Smithwick Tax Bill
$2,737
Average Burnet County Tax Bill
$4,017
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Smithwick, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Smithwick 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 | |
|---|---|
| Burnet Appraisal District | |
| Website | esearch.burnet-cad.org |
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