Olton, Texas Property Taxes
The median property tax rate in Olton, TX is 1.13%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $244,050 in Olton, the typical annual property tax bill amounts to $2,934, surpassing the national median of $2,690. Property taxes in Olton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Olton'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 Olton 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
Olton, 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 Olton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Olton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Olton 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 Hale County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Olton, Texas
Property taxes in Olton, Texas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Olton is 1.13%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Olton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Olton 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 Olton's effective property tax rate to other counties in Texas and the national median. For comparison, the 79064 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Olton provides valuable insights into the varying tax landscape across Hale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Olton Tax Rate
1.13%
Average Hale County Tax Rate
2.31%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Olton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79064 | 0.70% | 1.05% | 1.13% | 1.24% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Olton, Texas
In Olton, 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 Hale 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 Olton, 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. For instance, homeowners in the 79064 zip code face a median tax bill of $2,934. Being aware of these valuation processes in Olton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Olton Assessed Value
$244,050
Average Hale County Assessed Value
$77,228
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Olton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79064 | $79,281 | $156,783 | $244,050 | $377,289 | $535,063 |
Source: Ownwell
Property Tax Bills Across Olton, Texas
In Olton, located in Hale 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 property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Olton can expect a wide range of property tax bills. For instance, the 25th percentile tax bill stands at $1,354, while those in the 75th percentile face a tax bill of $3,745. At the higher end, the 90th percentile tax bill reaches $5,261. With the median home price at $244,050, the property tax burden can significantly impact household finances, especially when compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners as they plan their budgets and consider the long-term costs associated with owning property in Olton.
Average Olton Tax Bill
$2,934
Average Hale County Tax Bill
$1,729
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Olton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79064 | $836 | $1,354 | $2,934 | $3,745 | $5,261 |
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 | |
|---|---|
| Hale Appraisal District | |
| Website | propaccess.trueautomation.com |