Kerrick, Texas Property Taxes
The median property tax rate in Kerrick, TX is 1.43%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $71,060 in Kerrick, the typical annual property tax bill amounts to $1,087, falling below the national median of $2,690. Property taxes in Kerrick are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Kerrick'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 Kerrick 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
Kerrick, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$1,016
$940
Ownwell’s Kerrick Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Kerrick with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Kerrick to provide an estimate of your property tax bill. This valuable tool helps you comprehend potential tax liabilities. For those keen on observing trends at a neighborhood level, further localized information is available as you scroll down. Your property’s assessed value is the figure assigned by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Kerrick, Texas
Property taxes in Kerrick, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kerrick is 1.43%, which is higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Kerrick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kerrick 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 Kerrick's effective property tax rate to other counties in Texas and the national median. For comparison, the 79051 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Kerrick provides valuable insights into the varying tax landscape across Dallam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kerrick Tax Rate
1.43%
Average Dallam County Tax Rate
1.99%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kerrick, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79051 | 0.78% | 1.14% | 1.43% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Kerrick, Texas
In Kerrick, 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 Dallam 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. 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. With a median home price of $71,060, Kerrick's property tax bills vary significantly. For instance, the 25th percentile tax bill is around $597, while the 75th percentile tax bill reaches $1,976. The highest median tax bill in the area is $1,087 in zip code 79051. Being aware of these valuation processes in Kerrick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kerrick Assessed Value
$71,060
Average Dallam County Assessed Value
$88,040
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kerrick, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79051 | $35,695 | $43,932 | $71,060 | $147,122 | $265,412 |
Source: Ownwell
Property Tax Bills Across Kerrick, Texas
In Kerrick, Dallam County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, improvements, and location. For Kerrick, the median home price is $71,060. Homeowners in this area can expect their tax bills to vary significantly, with the 25th percentile tax bill at $597 and the 75th percentile reaching $1,976. At the 90th percentile, tax bills can be as high as $3,074. These figures show that property taxes can have a substantial impact on household budgets. Compared to the national median property tax rate of 0.99%, Kerrick's rates may seem relatively moderate, but the actual tax burden depends heavily on individual property values and local tax rates. This variability underscores the importance of understanding how property taxes are calculated and their potential financial implications for homeowners.
Average Kerrick Tax Bill
$1,087
Average Dallam County Tax Bill
$1,574
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Kerrick, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79051 | $461 | $597 | $1,087 | $1,976 | $3,074 |
Source: Ownwell