Oakland, Texas Property Taxes
The median property tax rate in Oakland, Texas is 1.23%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Oakland, the typical annual property tax bill reaches $271, falling below the national median of $2,690. Property taxes in Oakland 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 Oakland'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 Oakland 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
Oakland, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$351
$325
Ownwell’s Oakland Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oakland with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Oakland to provide an accurate estimate of your property tax bill. This valuable tool helps you gauge potential tax liabilities effectively. For those interested in neighborhood-specific trends, further localized information is available below. Your property’s assessed value is determined by the county for tax purposes, incorporating any applicable exemptions.
Property Tax Rates Across Oakland, Texas
Property taxes in Oakland, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakland is 1.45%, higher than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within Oakland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakland 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 Oakland's effective property tax rate to other counties in Texas and the national median. For comparison, the 78951 zip code has the highest median property tax rate of 1.45%, while the 78951 zip code has the lowest median tax rate of 1.45%. Understanding how these cities compare with Oakland provides valuable insights into the varying tax landscape across Colorado County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakland Tax Rate
1.23%
Average Colorado County Tax Rate
1.13%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78951 | 0.27% | 0.64% | 1.23% | 1.64% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Oakland, Texas
In Oakland, 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 Colorado 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 Oakland, 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 Oakland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Oakland is found in zip code 78951, with a value of $271.
Average Oakland Assessed Value
$28,530
Average Colorado County Assessed Value
$111,020
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78951 | $8,196 | $12,475 | $28,530 | $77,960 | $126,776 |
Source: Ownwell
Property Tax Bills Across Oakland, Texas
In Oakland, Colorado County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of properties annually. The tax rate is set by local taxing authorities, including school districts, cities, and special districts. Homeowners in Oakland experience a range of property tax bills. For instance, the 25th percentile tax bill is $164, while the 75th percentile tax bill is $546. At the higher end, the 90th percentile tax bill reaches $1,517. These figures highlight the variability in property tax burdens depending on the assessed value and specific tax rates applied. The median home price in Oakland is $28,530, which influences the overall tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Oakland may find their tax rates to be relatively manageable, but the actual burden will depend on individual property assessments and local tax policies. This variability affects homeowners differently, making it essential to understand how local assessments and rates impact their specific tax obligations.
Average Oakland Tax Bill
$271
Average Colorado County Tax Bill
$1,356
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakland, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78951 | $105 | $164 | $271 | $546 | $1,517 |
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 | |
|---|---|
| Colorado Appraisal District | |
| Website | propaccess.trueautomation.com |