Wellington, Texas Property Taxes
The median property tax rate in Wellington, TX is 2.44%, significantly higher than the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $41,280 in Wellington, the typical annual property tax bill is $880, which is below the national median of $2,690. Property taxes in Wellington are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Wellington's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wellington 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
Wellington, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.44%
Estimate Property Tax Bill
$1,007
$932
Ownwell’s Wellington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellington 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 Wellington, Texas
Property taxes in Wellington, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellington is 2.44%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wellington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellington 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 Wellington's effective property tax rate to other counties in Texas and the national median. For comparison, the 79095 zip code has the highest median property tax rate of 2.44%, while the same zip code also has the lowest median tax rate of 2.44%. Understanding how these cities compare with Wellington provides valuable insights into the varying tax landscape across Collingsworth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellington Tax Rate
2.44%
Average Collingsworth County Tax Rate
2.30%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellington, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79095 | 1.79% | 2.05% | 2.44% | 2.44% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Wellington, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wellington, 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 Collingsworth 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 Wellington, 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. Wellington's median home price is $41,280, with tax bills ranging significantly. The 25th percentile tax bill is $349, while the 75th percentile reaches $1,994, and the 90th percentile hits $3,231. The highest and lowest median tax bills are both $880, found in the 79095 zip code. Being aware of these valuation processes in Wellington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wellington Assessed Value
$41,280
Average Collingsworth County Assessed Value
$38,340
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellington, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79095 | $5,182 | $14,870 | $41,280 | $98,445 | $162,046 |
Source: Ownwell
Property Tax Bills Across Wellington, Texas
In Wellington, Collingsworth 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 county appraisal district and reflects the property's market value. Homeowners in Wellington can expect a median property tax bill of $880, which is considerably lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and market conditions. For instance, the 25th percentile tax bill is $349, while the 75th percentile tax bill is $1,994, indicating a range based on property values and other factors. At the higher end, the 90th percentile tax bill can reach up to $3,231. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how these taxes are calculated and what they fund can help in budgeting and planning for future expenses. Lower property taxes in Wellington can be an attractive feature for potential homebuyers looking for affordability.
Average Wellington Tax Bill
$880
Average Collingsworth County Tax Bill
$810
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellington, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79095 | $120 | $349 | $880 | $1,994 | $3,231 |
Source: Ownwell