Brookesmith, Texas Property Taxes
The median property tax rate in Brookesmith, TX is 1.89%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Brookesmith at $149,330, the typical annual property tax bill reaches $1,392, which is below the national median of $2,690. Property taxes in Brookesmith 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 Brookesmith'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 Brookesmith 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
Brookesmith, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.89%
Estimate Property Tax Bill
$2,822
$2,611
Ownwell’s Brookesmith Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brookesmith with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brookesmith 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 Brookesmith, Texas
Property taxes in Brookesmith, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookesmith is 1.89%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Brookesmith set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookesmith 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 Brookesmith's effective property tax rate to other counties in Texas and the national median. For comparison, the 76827 zip code has the highest median property tax rate of 1.89%, while the 76827 zip code has the lowest median tax rate of 1.89%. Understanding how these cities compare with Brookesmith provides valuable insights into the varying tax landscape across Coleman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brookesmith Tax Rate
1.89%
Average Coleman County Tax Rate
2.45%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookesmith, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76827 | 0.59% | 1.08% | 1.89% | 1.89% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Brookesmith, Texas
In Brookesmith, 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 Coleman 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 Brookesmith, 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 Brookesmith helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,392 in the 76827 zip code, while the lowest is also $1,392 in the same zip code.
Average Brookesmith Assessed Value
$149,330
Average Coleman County Assessed Value
$44,875
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brookesmith, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76827 | $79,807 | $89,252 | $149,330 | $204,160 | $204,160 |
Source: Ownwell
Property Tax Bills Across Brookesmith, Texas
In Brookesmith, property tax bills are calculated based on the assessed value of a property. The local tax authority in Coleman County determines this assessed value, which is typically a percentage of the property's market value. Homeowners in Brookesmith can expect their property tax bills to vary depending on their property's assessed value and the local tax rate. The median home price in Brookesmith stands at $149,330, and the property tax rate is generally aligned with the state's average. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, the tax bill for the 25th percentile is $966, while the 75th percentile reaches $1,591, and the 90th percentile is $1,710. These variations highlight how different factors can significantly impact the overall tax burden on homeowners. Understanding these elements can help homeowners in Brookesmith better anticipate their property tax obligations and plan accordingly.
Average Brookesmith Tax Bill
$1,392
Average Coleman County Tax Bill
$898
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookesmith, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76827 | $710 | $966 | $1,392 | $1,591 | $1,710 |
Source: Ownwell