Tahoka, Texas Property Taxes
The median property tax rate in Tahoka, TX is 1.19%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Tahoka at $5,070, the typical annual property tax bill is around $60, which is significantly below the national median of $2,690. Property taxes in Tahoka are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Tahoka's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Tahoka or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tahoka, 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 Tahoka Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tahoka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tahoka to provide an estimate of your property tax bill. This valuable tool helps you gain insight into your potential tax liabilities, making financial planning more straightforward. For those interested in neighborhood-specific trends, additional localized information is available. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Tahoka, Texas
Property taxes in Tahoka, Texas, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Tahoka is 1.19%, which is higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Tahoka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tahoka 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 Tahoka's effective property tax rate to other counties in Texas and the national median. For comparison, the 79373 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Tahoka provides valuable insights into the varying tax landscape across Lynn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tahoka Tax Rate
1.19%
Average Grimes County Tax Rate
1.58%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tahoka, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79373 | 1.19% | 1.19% | 1.19% | 1.19% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Tahoka, Texas
In Tahoka, 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 Lynn 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 Tahoka, 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 Tahoka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the zip code with the lowest tax bill in Tahoka sees an annual tax of $52, while the highest can go up to $100. Understanding these variations can significantly impact your financial planning and property tax management.
Average Tahoka Assessed Value
$5,070
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 Tahoka, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79373 | $4,100 | $4,372 | $5,070 | $6,082 | $7,500 |
Source: Ownwell
Property Tax Bills Across Tahoka, Texas
In Tahoka, 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 appraisal district, which evaluates the market value of your property. In Lynn County, the median home price stands at $5,070. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence your property tax bill, including changes in the market value of your home, local government budgets, and any applicable exemptions. For example, the 25th percentile tax bill in Tahoka is $52, while the 75th percentile tax bill is $73, and the 90th percentile tax bill reaches $100. These figures illustrate the range of tax burdens homeowners might face. Homeowners in Tahoka should be aware of these factors as they directly impact the amount they owe annually. Understanding how these elements interplay can help residents anticipate their tax obligations and plan their finances accordingly.
Average Tahoka Tax Bill
$60
Average Grimes County Tax Bill
$808
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Tahoka, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79373 | $49 | $52 | $60 | $73 | $100 |
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 |