Montgomery, Texas Property Taxes
The median property tax rate in Montgomery, TX is 1.58%, which is significantly higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Montgomery at $368,040, the typical annual property tax bill reaches $6,877, far exceeding the national median of $2,690. Property taxes in Montgomery 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 Montgomery'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 Montgomery 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
Montgomery, 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 Montgomery Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Montgomery with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montgomery 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 Montgomery, Texas
Property taxes in Montgomery, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montgomery is 1.58%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Montgomery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montgomery 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 Montgomery's effective property tax rate to other counties in Texas and the national median. For comparison, the 77316 zip code has the highest median property tax rate of 1.91%, while 77356 has the lowest median tax rate of 1.39%. Understanding how these cities compare with Montgomery provides valuable insights into the varying tax landscape across Grimes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montgomery Tax Rate
1.58%
Average Grimes County Tax Rate
1.58%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montgomery, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77316 | 1.50% | 1.52% | 1.91% | 1.93% | 5.21% |
| 77356 | 1.35% | 1.37% | 1.39% | 1.43% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery, Texas
In Montgomery, 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 Grimes 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 Montgomery, 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. The median home price in Montgomery is $368,040, and property tax bills can vary significantly. For example, the highest median tax bill is $8,092 in the 77316 zip code, while the lowest is $6,088 in the 77356 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 Montgomery helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montgomery Assessed Value
$368,040
Average Grimes County Assessed Value
$49,760
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montgomery, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77316 | $90,290 | $108,070 | $188,470 | $652,862 | $972,972 |
| 77356 | $133,060 | $282,948 | $416,085 | $507,875 | $580,329 |
Source: Ownwell
Property Tax Bills Across Montgomery, Texas
In Montgomery, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Various factors influence the assessed value, including the market value of similar properties, location, and any improvements made to the property. For instance, the median home price in Montgomery stands at $368,040, and homeowners can expect to pay a tax bill that varies significantly depending on their property's assessed value. The 25th percentile tax bill is around $2,419, while the 75th percentile tax bill can reach up to $10,228. For those in the 90th percentile, the tax bill may go as high as $13,694. Notably, the highest median tax bill in the area is $8,092 in the 77316 zip code, whereas the lowest is $6,088 in the 77356 zip code. These property taxes can significantly impact homeowners' annual expenses, making it essential to understand how these calculations are made.
Average Montgomery Tax Bill
$6,877
Average Grimes County Tax Bill
$808
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77316 | $1,740 | $2,165 | $8,092 | $11,291 | $15,119 |
| 77356 | $2,758 | $4,230 | $6,088 | $7,126 | $8,304 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | June 2 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Grimes Appraisal District | |
| Website | grimescad.org |