New Summerfield, Texas Property Taxes
The median property tax rate in New Summerfield, TX is 1.52%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $41,060 in New Summerfield, the typical annual property tax bill is $509, significantly below the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding New Summerfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you reside in the heart of New Summerfield or another part of the city, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Summerfield, 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 New Summerfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Summerfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Summerfield 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 New Summerfield, Texas
Property taxes in New Summerfield, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Summerfield is 1.52%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within New Summerfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Summerfield 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 New Summerfield's effective property tax rate to other counties in Texas and the national median. For comparison, the 75780 zip code has the highest median property tax rate of 1.52%, while the same zip code also has the lowest median tax rate of 1.52%. Understanding how these cities compare with New Summerfield provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Summerfield Tax Rate
1.52%
Average Cherokee County Tax Rate
1.52%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Summerfield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75780 | 1.02% | 1.23% | 1.52% | 1.52% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across New Summerfield, Texas
In New Summerfield, 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 Cherokee 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 New Summerfield, 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. For instance, the median home price in New Summerfield is $41,060, with tax bills ranging from $151 at the 25th percentile to $1,672 at the 90th percentile. The highest median tax bill in the area is $509 in the 75780 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Summerfield Assessed Value
$41,060
Average Cherokee County Assessed Value
$121,540
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Summerfield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75780 | $6,290 | $10,340 | $41,060 | $86,500 | $133,080 |
Source: Ownwell
Property Tax Bills Across New Summerfield, Texas
In New Summerfield, located in Cherokee County, TX, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the Cherokee County Appraisal District, which evaluates properties to establish their market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $41,060, homeowners can expect varying tax bills. The 25th percentile tax bill is around $151, while those in the 75th percentile face bills closer to $1,121. The top 10% of tax bills can reach up to $1,672. These figures highlight the range of property taxes homeowners might encounter, depending on their property's assessed value. Although the median tax bill in New Summerfield is $509, which is notably lower than the national median property tax rate of 0.99%, it still represents a significant expense for homeowners, influencing their overall cost of living.
Average New Summerfield Tax Bill
$509
Average Cherokee County Tax Bill
$1,611
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across New Summerfield, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75780 | $86 | $151 | $509 | $1,121 | $1,672 |
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 | |
|---|---|
| Cherokee Appraisal District | |
| Website | propaccess.trueautomation.com |