Winnsboro, Texas Property Taxes
The median property tax rate in Winnsboro, TX is 1.41%, which is notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Winnsboro at $138,140, the typical annual property tax bill amounts to $1,706, which is below the national median of $2,690. Property taxes in Winnsboro are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Winnsboro'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 Winnsboro 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
Winnsboro, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$1,948
$1,802
Ownwell’s Winnsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winnsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winnsboro 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 Franklin County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Winnsboro, Texas
Property taxes in Winnsboro, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winnsboro is 1.41%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Winnsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winnsboro 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 Winnsboro's effective property tax rate to other counties in Texas and the national median. For comparison, the 75494 zip code has the highest median property tax rate of 1.41%, while the 75494 zip code has the lowest median tax rate of 1.41%. Understanding how these cities compare with Winnsboro provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winnsboro Tax Rate
1.41%
Average Franklin County Tax Rate
1.44%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winnsboro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75494 | 0.75% | 0.99% | 1.41% | 1.44% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Winnsboro, Texas
In Winnsboro, 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 Franklin 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 Winnsboro, 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 Winnsboro is $138,140, with tax bills ranging from $781 at the 25th percentile to $4,854 at the 90th percentile. The zip code with the highest and lowest median tax bill is 75494, both at $1,706. Being aware of these valuation processes in Winnsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Winnsboro Assessed Value
$138,140
Average Franklin County Assessed Value
$201,820
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winnsboro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75494 | $17,680 | $66,248 | $138,140 | $239,578 | $464,700 |
Source: Ownwell
Property Tax Bills Across Winnsboro, Texas
In Winnsboro, located in Franklin County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of properties annually. Homeowners in Winnsboro face a median home price of $138,140. The tax bill is influenced by several factors, including the property's assessed value, any applicable exemptions, and the local tax rate. For instance, the tax bill at the 25th percentile is $781, while at the 75th percentile, it rises to $3135, and at the 90th percentile, it reaches $4854. The highest and lowest median tax bills in the area are both recorded at $1706, reflecting the zip code 75494. These property taxes significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Compared to the national median property tax rate of 0.99%, Winnsboro's rates can vary, potentially offering some homeowners a more manageable tax burden.
Average Winnsboro Tax Bill
$1,706
Average Franklin County Tax Bill
$2,446
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Winnsboro, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75494 | $236 | $781 | $1,706 | $3,135 | $4,854 |
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 | |
|---|---|
| Franklin Appraisal District | |
| Website | esearch.franklin-cad.org |