Lefors, Texas Property Taxes
The median property tax rate in Lefors, TX is 2.83%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lefors, the typical annual property tax bill reaches $396, which is significantly lower than the national median of $2,690. Property taxes in Lefors 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 Lefors' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lefors or another part of Gray County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lefors, 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 Lefors Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lefors with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lefors 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 Lefors, Texas
Property taxes in Lefors, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lefors is 2.83%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lefors set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lefors 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 Lefors' effective property tax rate to other counties in Texas and the national median. For comparison, the 79054 zip code has the highest median property tax rate of 2.83%, while the same zip code also has the lowest median tax rate of 2.83%. Understanding how these cities compare with Lefors provides valuable insights into the varying tax landscape across Gray County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lefors Tax Rate
2.83%
Average Gray County Tax Rate
2.61%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lefors, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79054 | 2.49% | 2.83% | 2.83% | 2.83% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Lefors, Texas
In Lefors, 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 Gray 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 Lefors, 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. Being aware of these valuation processes in Lefors helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 79054, with a median tax bill of $396, while the lowest median tax bill is also in the same zip code at $396.
Average Lefors Assessed Value
$14,560
Average Gray County Assessed Value
$47,170
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lefors, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79054 | $6,364 | $8,205 | $14,560 | $36,718 | $70,976 |
Source: Ownwell
Property Tax Bills Across Lefors, Texas
Property tax bills in Lefors, located in Gray County, TX, are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and is influenced by factors such as the market value of the home, recent sales of comparable properties, and any improvements or renovations made to the property. Homeowners in Lefors face a range of property tax bills, with the 25th percentile paying around $232 and the 75th percentile paying up to $939 annually. The 90th percentile of homeowners pay as much as $1,890 in property taxes each year. For a median home price of $14,560, the property tax bill can significantly impact homeowners' finances. Comparatively, the national median property tax rate is 0.99%, making Lefors' tax rates relatively moderate. However, even within Lefors, there is variability, with the highest median tax bill recorded at $396 in the 79054 zip code. These property taxes fund essential public services such as schools, roads, and emergency services, directly affecting the quality of life for Lefors residents.
Average Lefors Tax Bill
$396
Average Gray County Tax Bill
$1,100
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lefors, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79054 | $177 | $232 | $396 | $939 | $1,890 |
Source: Ownwell