Palmer, Texas Property Taxes
The median property tax rate in Palmer, TX is 1.26%, notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $222,045 in Palmer, the typical annual property tax bill amounts to $2,581, which is below the national median of $2,690. Property taxes in Palmer are calculated based on the tax assessed value, often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Palmer'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 Palmer 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
Palmer, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$2,798
$2,589
$1,148
Average Palmer, Texas Tax Savings
Ownwell’s Palmer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palmer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palmer 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 Palmer. 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 Palmer, Texas
Property taxes in Palmer, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palmer is 1.26%, higher than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within Palmer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palmer 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 Palmer's effective property tax rate to other counties in Texas and the national median. For comparison, the 75152 zip code has the highest median property tax rate of 1.26%, while the same 75152 zip code has the lowest median tax rate of 1.26%. Understanding how these cities compare with Palmer provides valuable insights into the varying tax landscape across Ellis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palmer Tax Rate
1.26%
Average Ellis County Tax Rate
1.33%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palmer, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75152 | 0.43% | 0.82% | 1.26% | 1.57% | 1.97% |
Source: Ownwell
$1,148
Average Palmer Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Palmer, Texas
In Palmer, 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 Ellis 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 Palmer, 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. For instance, the highest median tax bill in Palmer is $2,581 in zip code 75152. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Palmer Assessed Value
$222,045
Average Ellis County Assessed Value
$332,264
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palmer, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75152 | $67,993 | $129,739 | $222,045 | $346,902 | $459,953 |
Source: Ownwell
$1,148
Average Palmer Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Palmer, Texas
In Palmer, located in Ellis County, TX, property tax bills are calculated based on the assessed value of your home. The median home price here is $222,045, and the tax rate is applied to this assessed value to determine your annual tax bill. Factors such as property size, location, and local tax rates influence the final amount. For example, tax bills in Palmer range from $1,227 at the 25th percentile to $5,356 at the 90th percentile, with a median tax bill of $2,581. This is notably higher than the national median property tax rate of 0.99%. High property taxes can be a burden for homeowners, but Ownwell can help you save. By leveraging expert knowledge in property tax appeals and exemptions, Ownwell ensures your property is accurately assessed, potentially lowering your tax bill. Our services can help you navigate the complexities of property tax laws, making sure you pay only what is fair and just.
Average Palmer Tax Bill
$2,581
Average Ellis County Tax Bill
$4,181
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Palmer, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75152 | $542 | $1,227 | $2,581 | $4,093 | $5,356 |
Source: Ownwell
$1,148
Average Palmer 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 | |
|---|---|
| Ellis Appraisal District | |
| Phone | (972) 825-5150 |
| Website | www.elliscad.com |
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