Big Wells, Texas Property Taxes
The median property tax rate in Big Wells, TX is 1.60%, considerably higher than the national median of 0.99% but slightly below the Texas state median of 1.67%. With a median home value of $43,860 in Big Wells, the typical annual property tax bill reaches $633, which is significantly lower than the national median of $2,690. Property taxes in Big Wells are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Big Wells' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Big Wells 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
Big Wells, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Big Wells Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Wells with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Wells 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 Big Wells, Texas
Property taxes in Big Wells, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Wells is 1.60%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Big Wells set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Wells 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 Big Wells's effective property tax rate to other counties in Texas and the national median. For comparison, the 78830 zip code has the highest median property tax rate of 1.60%, while the same zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with Big Wells provides valuable insights into the varying tax landscape across Dimmit County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Wells Tax Rate
1.60%
Average Dimmit County Tax Rate
1.61%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Wells, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78830 | 1.21% | 1.57% | 1.60% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Big Wells, Texas
In Big Wells, 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 Dimmit 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 Big Wells, 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 example, the median home price in Big Wells is $43,860, with tax bills ranging from $211 at the 25th percentile to $1,393 at the 90th percentile. The highest and lowest median tax bills in the area are both $633, found in the 78830 zip code. 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 Big Wells helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Big Wells Assessed Value
$43,860
Average Dimmit County Assessed Value
$51,790
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Wells, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78830 | $3,450 | $14,536 | $43,860 | $67,265 | $92,766 |
Source: Ownwell
Property Tax Bills Across Big Wells, Texas
In Big Wells, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Big Wells, located in Dimmit County, the median home price is $43,860. The tax bill can vary significantly, with the 25th percentile tax bill at $211 and the 75th percentile tax bill reaching $1,045. The 90th percentile tax bill is even higher at $1,393. Factors such as property improvements, land value, and local tax rates all play a role in determining the final tax bill. Compared to the national median property tax rate of 0.99%, the tax rates in Big Wells can have a substantial impact on homeowners. Higher assessed values or changes in local tax rates can lead to increased tax bills, affecting the overall affordability of homeownership in the area.
Average Big Wells Tax Bill
$633
Average Dimmit County Tax Bill
$847
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Wells, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78830 | $55 | $211 | $633 | $1,045 | $1,393 |
Source: Ownwell