Springlake, Texas Property Taxes
The median property tax rate in Springlake, TX is 1.95%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Springlake, the typical annual property tax bill reaches $1,080, surpassing the national median of $2,690. Property taxes in Springlake 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 Springlake'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 Springlake 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
Springlake, 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 Springlake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springlake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springlake 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 Springlake, Texas
Property taxes in Springlake, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springlake is 1.95%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Springlake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springlake 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 Springlake's effective property tax rate to other counties in Texas and the national median. For comparison, the 79082 zip code has the highest median property tax rate of 1.95%, while the same zip code also has the lowest median tax rate of 1.95%. Understanding how these cities compare with Springlake 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 Springlake Tax Rate
1.95%
Average Castro County Tax Rate
2.39%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79082 | 1.95% | 1.95% | 1.95% | 1.95% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Springlake, Texas
In Springlake, 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 Springlake, 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 Springlake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1080, found in the 79082 zip code.
Average Springlake Assessed Value
$55,270
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 Springlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79082 | $55,270 | $55,270 | $55,270 | $55,270 | $55,270 |
Source: Ownwell
Property Tax Bills Across Springlake, Texas
In Springlake, located in Castro County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to determine the tax bill. In Springlake, the median home price is $55,270. Despite the relatively low home prices, property tax bills can be significant. For instance, the 25th, 75th, and 90th percentiles of tax bills all stand at $1,080, which is notably higher than the national median property tax rate of 0.99%. This uniform tax bill suggests a consistent rate applied across various property values. These property tax bills can significantly impact homeowners, affecting their monthly budgets and overall financial planning. Understanding how these taxes are calculated helps homeowners anticipate their expenses and plan accordingly.
Average Springlake Tax Bill
$1,080
Average Castro County Tax Bill
$1,097
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Springlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79082 | $1,080 | $1,080 | $1,080 | $1,080 | $1,080 |
Source: Ownwell