Muleshoe, Texas Property Taxes
The median property tax rate in Muleshoe, TX is 1.69%, slightly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Muleshoe at $42,165, the typical annual property tax bill reaches $712, which is well below the national median of $2,690. Property taxes in Muleshoe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Muleshoe'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 Muleshoe 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
Muleshoe, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$713
$659
Ownwell’s Muleshoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Muleshoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Muleshoe 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 Muleshoe, Texas
Property taxes in Muleshoe, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Muleshoe is 1.69%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Muleshoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Muleshoe 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 Muleshoe's effective property tax rate to other counties in Texas and the national median. For comparison, the 79347 zip code has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Muleshoe provides valuable insights into the varying tax landscape across Castro County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Muleshoe Tax Rate
1.69%
Average Castro County Tax Rate
2.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Muleshoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79347 | 1.69% | 1.69% | 1.69% | 1.69% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Muleshoe, Texas
In Muleshoe, 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 Castro 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 Muleshoe, 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. In Muleshoe, the median home price is $42,165, with tax bills ranging from $492 at the 25th percentile to $2,317 at the 90th percentile. The zip code 79347 has both the highest and lowest median tax bill at $712. 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 Muleshoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Muleshoe Assessed Value
$42,165
Average Castro County Assessed Value
$49,105
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Muleshoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79347 | $24,420 | $29,140 | $42,165 | $52,438 | $137,210 |
Source: Ownwell
Property Tax Bills Across Muleshoe, Texas
In Muleshoe, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The median home price in this area is $42,165, significantly lower than many other regions. Homeowners face a range of tax bills, with the 25th percentile at $492 and the 75th percentile at $885. These figures highlight the variability in tax obligations, influenced by factors such as property value and local tax rates. The highest median tax bill in the region is $712, located in zip code 79347, which is consistent with the lowest median tax bill, indicating a relatively uniform tax burden across the area. Compared to the national median property tax rate of 0.99%, Muleshoe’s tax rates can be considered more manageable, providing some financial relief to homeowners. This structured approach to property tax calculation ensures that tax bills reflect property values, offering a fair system for residents.
Average Muleshoe Tax Bill
$712
Average Castro County Tax Bill
$1,097
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Muleshoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79347 | $412 | $492 | $712 | $885 | $2,317 |
Source: Ownwell