Lavon, Texas Property Taxes
The median property tax rate in Lavon, TX is 1.85%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lavon at $344,927, the typical annual property tax bill reaches $6,059, significantly exceeding the national median of $2,690. Property taxes in Lavon 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 Lavon'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 Lavon or another part of the city, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Lavon, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$6,381
$5,904
$1,148
Average Lavon, Texas Tax Savings
Ownwell’s Lavon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lavon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lavon to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Lavon. 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 Lavon, Texas
Property taxes in Lavon, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lavon is 1.85%, which is significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lavon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lavon 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 Lavon's effective property tax rate to other counties in Texas and the national median. For comparison, the 75166 zip code has the highest median property tax rate of 1.85%, while the same zip code also has the lowest median tax rate of 1.85%. Understanding how these cities compare with Lavon provides valuable insights into the varying tax landscape across Collin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lavon Tax Rate
1.85%
Average Collin County Tax Rate
1.60%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lavon, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75166 | 1.45% | 1.55% | 1.85% | 1.91% | 1.91% |
Source: Ownwell
$1,148
Average Lavon Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lavon, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lavon, Texas. 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 Collin 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 Lavon, 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 Lavon is $344,927, with tax bills ranging from $2,362 at the 25th percentile to $8,646 at the 90th percentile. 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 Lavon Assessed Value
$344,927
Average Collin County Assessed Value
$477,029
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lavon, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75166 | $43,320 | $153,287 | $344,927 | $415,004 | $514,464 |
Source: Ownwell
$1,148
Average Lavon Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lavon, Texas
In Lavon, located in Collin County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. With a median home price of $344,927, homeowners can expect varying tax bills depending on their property's assessed value. The tax bill for the 25th percentile is around $2,362, while it rises significantly to $7,346 for the 75th percentile and even higher to $8,646 for the 90th percentile. This variability highlights the importance of accurate property assessments and potential savings from appealing over-assessments. Homeowners in Lavon face a median property tax bill of $6,059, which is higher than the national median rate of 0.99%. Such high taxes can strain household budgets, making it crucial to ensure your property is fairly assessed. Ownwell can assist by providing expert property tax appeal and exemption services, potentially lowering your tax bill and offering significant savings. By leveraging local knowledge and expertise, Ownwell helps homeowners navigate the complexities of property tax assessments and secure the best possible outcomes.
Average Lavon Tax Bill
$6,059
Average Collin County Tax Bill
$7,555
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lavon, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75166 | $763 | $2,362 | $6,059 | $7,346 | $8,646 |
Source: Ownwell
$1,148
Average Lavon Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Collin Appraisal District | |
| Phone | (469) 742-9200 |
| Website | esearch.collincad.org |
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