Southlake, Texas Property Taxes
The median property tax rate in Southlake, TX is 1.22%, which is considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Southlake at $1,453,794, the typical annual property tax bill reaches $17,410, far exceeding the national median of $2,690. Property taxes in Southlake 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 Southlake'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 Southlake 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
Southlake, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$17,736
$16,410
$1,148
Average Southlake, Texas Tax Savings
Ownwell’s Southlake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Southlake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Southlake 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 Southlake. 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 Southlake, Texas
Property taxes in Southlake, Texas, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Southlake is 1.22%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Southlake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southlake 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 Southlake's effective property tax rate to other counties in Texas and the national median. For comparison, the 76092 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Southlake provides valuable insights into the varying tax landscape across Denton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Southlake Tax Rate
1.22%
Average Denton County Tax Rate
1.65%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Southlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76092 | 0.99% | 1.09% | 1.22% | 1.60% | 1.60% |
Source: Ownwell
$1,148
Average Southlake Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Southlake, Texas
In Southlake, 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 Denton 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 Southlake, 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. The median home price in Southlake is $1,453,794, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $11,682, while the 75th percentile tax bill rises to $25,546, and the 90th percentile reaches $34,918. Notably, the zip code 76092 has the highest and lowest median tax bill, both set at $17,410. Understanding these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Southlake Assessed Value
$1,453,794
Average Denton County Assessed Value
$444,000
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Southlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76092 | $284,261 | $933,356 | $1,453,794 | $1,777,505 | $2,784,425 |
Source: Ownwell
$1,148
Average Southlake Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Southlake, Texas
In Southlake, TX, property tax bills are calculated based on the assessed value of your home. The local tax rate is applied to this assessed value to determine your annual tax bill. With a median home price of $1,453,794, homeowners can expect significant tax bills, with the 25th percentile at $11,682 and the 75th percentile reaching $25,546. Factors such as property size, location, and market conditions influence the assessed value, directly impacting the tax bill. High property taxes can place a considerable financial burden on homeowners. Ownwell specializes in property tax appeal and exemption services, helping you potentially lower your assessed value and, consequently, your tax bill. By leveraging their expertise, homeowners can navigate the complex appeal process more effectively, ensuring they pay only their fair share. With the highest median tax bill in the area at $17,410, homeowners in Southlake can significantly benefit from professional assistance in managing their property taxes.
Average Southlake Tax Bill
$17,410
Average Denton County Tax Bill
$7,425
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Southlake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76092 | $3,508 | $11,682 | $17,410 | $25,546 | $34,918 |
Source: Ownwell
$1,148
Average Southlake 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 | |
|---|---|
| Denton Appraisal District | |
| Phone | (940) 349-3910 |
| Website | esearch.dentoncad.com |
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