Lull, Texas Property Taxes
The median property tax rate in Lull, TX is 2.65%, significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lull at $121,546, the typical annual property tax bill reaches $3,223, surpassing the national median of $2,690. Property taxes in Lull are calculated based on the assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lull'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 Lull 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
Lull, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$3,221
$2,981
$1,148
Average Lull, Texas Tax Savings
Ownwell’s LULL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LULL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LULL 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 LULL. 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 Lull, Texas
Property taxes in Lull, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lull is 2.65%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lull set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lull 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 Lull's effective property tax rate to other counties in Texas and the national median. For comparison, the 78539 zip code has the highest median property tax rate of 2.65%, while the same zip code also has the lowest median tax rate of 2.65%. Understanding how these cities compare with Lull provides valuable insights into the varying tax landscape across Grayson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lull Tax Rate
2.65%
Average Grayson County Tax Rate
2.09%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lull, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78539 | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% |
Source: Ownwell
$1,148
Average Lull Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lull, Texas
In Lull, 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 Grayson 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 Lull, 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 Lull helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lull is $3,223 in the 78539 zip code, while the lowest is also $3,223 in the same zip code.
Average Lull Assessed Value
$121,546
Average Grayson County Assessed Value
$177,813
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lull, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78539 | $121,546 | $121,546 | $121,546 | $121,546 | $121,546 |
Source: Ownwell
$1,148
Average Lull Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lull, Texas
In Lull, located in Grayson County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county's appraisal district, which estimates the market value of your property. This value is then multiplied by the local tax rate to determine your annual tax bill. The median home price in Lull is $121,546, leading to a typical tax bill of $3,223, significantly higher than the national median property tax rate of 0.99%. Several factors influence your tax bill, including property improvements, market conditions, and local government budgets. High property taxes can place a substantial financial burden on homeowners, making it crucial to ensure your property is fairly assessed. Ownwell can help homeowners in Lull save on their property tax bills by providing expert property tax appeal services. By reviewing your assessment and filing appeals on your behalf, Ownwell ensures you are not overpaying, potentially saving you hundreds or even thousands of dollars annually.
Average Lull Tax Bill
$3,223
Average Grayson County Tax Bill
$3,777
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lull, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78539 | $3,223 | $3,223 | $3,223 | $3,223 | $3,223 |
Source: Ownwell
$1,148
Average Lull 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 | |
|---|---|
| Grayson Appraisal District | |
| Website | esearch.graysonappraisal.org |
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