Rockwood, Texas Property Taxes
The median property tax rate in Rockwood, TX is 0.65%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Rockwood at $161,180, the typical annual property tax bill reaches $883, well below the national median of $2,690. Property taxes in Rockwood 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 Rockwood'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 Rockwood or another part of Coleman County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rockwood, 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 Rockwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockwood 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 Rockwood, Texas
Property taxes in Rockwood, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockwood is 0.65%, which is lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Rockwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockwood 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 Rockwood's effective property tax rate to other counties in Texas and the national median. For comparison, the 76873 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Rockwood 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 Rockwood Tax Rate
0.65%
Average Coleman County Tax Rate
2.45%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76873 | 0.18% | 0.27% | 0.65% | 1.89% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Rockwood, Texas
In Rockwood, 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 Rockwood, 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 Rockwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Rockwood are both $883, found in zip code 76873.
Average Rockwood Assessed Value
$161,180
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 Rockwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76873 | $9,742 | $30,385 | $161,180 | $570,875 | $830,648 |
Source: Ownwell
Property Tax Bills Across Rockwood, Texas
Property tax bills in Rockwood, located in Coleman County, TX, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of homes. For example, the median home price in Rockwood is $161,180. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners may qualify for exemptions that can reduce their taxable value, such as homestead exemptions for primary residences. In Rockwood, the lowest median tax bill is $883, while the highest median tax bill also stands at $883, indicating a uniformity in tax assessments across the area. These tax bills significantly impact homeowners by affecting their annual expenses. While the local rates are competitive, they are still below the national median property tax rate of 0.99%, providing some financial relief to residents.
Average Rockwood Tax Bill
$883
Average Coleman County Tax Bill
$898
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockwood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76873 | $129 | $341 | $883 | $1,673 | $3,875 |
Source: Ownwell