Round Top, Texas Property Taxes
The median property tax rate in Round Top, TX, is 0.94%, slightly lower than the national median of 0.99% and significantly below the Texas state median of 1.67%. With a median home value of $706,870, the typical annual property tax bill in Round Top reaches $3,569, which surpasses the national median of $2,690. Property taxes in Round Top are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Round Top'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 Round Top or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Round Top, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$6,645
$6,149
Ownwell’s Round Top Property Tax Bill Calculator helps homeowners, real estate investors, and potential owners estimate their annual property taxes in Round Top with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Round Top 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 Round Top, Texas
Property taxes in Round Top, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Round Top is 0.94%, which is lower than the Texas state median and the U.S. national median of 0.99%. Local government entities within Round Top set these rates annually, and they can vary significantly across different neighborhoods. Each year, Round Top 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 Round Top's effective property tax rate to other counties in Texas and the national median. For comparison, the 78961 zip code has the highest median property tax rate of 1.25%, while the 78954 zip code has the lowest median tax rate of 0.94%. Understanding how these cities compare with Round Top provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Round Top Tax Rate
0.94%
Average Fayette County Tax Rate
1.14%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Round Top, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78954 | 0.15% | 0.37% | 0.94% | 1.19% | 1.22% |
| 78961 | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Round Top, Texas
In Round Top, 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 Fayette 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 Round Top, 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 instance, the highest median tax bill in the area is $3,579 in the 78954 zip code, while the lowest median tax bill is $1,969 in the 78961 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 Round Top helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Round Top Assessed Value
$706,870
Average Fayette County Assessed Value
$251,650
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Round Top, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78954 | $62,581 | $291,548 | $710,440 | $1,366,722 | $2,293,083 |
| 78961 | $157,250 | $157,250 | $157,250 | $157,250 | $157,250 |
Source: Ownwell
Property Tax Bills Across Round Top, Texas
In Round Top, Fayette County, TX, property tax bills are determined based on the assessed value of a home, which is derived from the market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Various factors influence the assessed value, including the home's size, location, and condition. Homeowners in Round Top can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $1,906, while the 75th percentile reaches $7,052, and the 90th percentile escalates to $12,296. These figures highlight the wide range in property tax burdens within the area. Notably, the highest median tax bill in the region is $3,579 in the 78954 zip code, whereas the lowest is $1,969 in the 78961 zip code. Compared to the national median property tax rate of 0.99%, Round Top homeowners face varying degrees of financial impact based on their property's assessed value and the local tax rate.
Average Round Top Tax Bill
$3,569
Average Fayette County Tax Bill
$2,303
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Round Top, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78954 | $536 | $1,906 | $3,579 | $7,170 | $12,372 |
| 78961 | $1,969 | $1,969 | $1,969 | $1,969 | $1,969 |
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 | |
|---|---|
| Fayette Appraisal District | |
| Website | esearch.fayettecad.org |