El Lago, Texas Property Taxes
The median property tax rate in El Lago, TX is 2.09%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in El Lago at $277,465, the typical annual property tax bill reaches $5,193, exceeding the national median of $2,690. Property taxes in El Lago 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 El Lago'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 El Lago 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
El Lago, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$5,799
$5,366
$1,148
Average El Lago, Texas Tax Savings
Ownwell’s EL LAGO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EL LAGO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EL LAGO 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 EL LAGO. 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 El Lago, Texas
Property taxes in El Lago, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in El Lago is 2.09%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within El Lago set these rates annually, and they can vary significantly across different neighborhoods. Each year, El Lago 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 El Lago's effective property tax rate to other counties in Texas and the national median. For comparison, the 77586 zip code has the highest median property tax rate of 2.09%, while the 77586 zip code also has the lowest median tax rate of 2.09%. Understanding how these cities compare with El Lago provides valuable insights into the varying tax landscape across Harris County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average El Lago Tax Rate
2.09%
Average Harris County Tax Rate
1.78%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across El Lago, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77586 | 1.14% | 1.61% | 2.09% | 2.18% | 2.52% |
Source: Ownwell
$1,148
Average El Lago Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across El Lago, Texas
In El Lago, 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 Harris 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. Assessment notices in El Lago 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 El Lago helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Harris County, the median home price is $277,465. The annual tax bill ranges from $2,929 at the 25th percentile to $8,065 at the 90th percentile. The highest and lowest median tax bills are both found in the 77586 zip code, each amounting to $5,193.
Average El Lago Assessed Value
$277,465
Average Harris County Assessed Value
$240,543
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across El Lago, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77586 | $24,671 | $224,912 | $277,465 | $324,492 | $383,445 |
Source: Ownwell
$1,148
Average El Lago Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across El Lago, Texas
Property tax bills in El Lago, located in Harris County, TX, are calculated based on the assessed value of a property and the local tax rate. The median home price in El Lago stands at $277,465. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, homes in the 25th percentile face an average tax bill of $2,929, while those in the 75th percentile see bills around $6,686. Homes in the 90th percentile can experience tax bills as high as $8,065. These taxes significantly impact homeowners, often creating financial strain. Ownwell assists by providing property tax appeal and exemption services, potentially lowering your tax bills. Our team of experts reviews your property's assessed value, identifies discrepancies, and files appeals on your behalf, ensuring you aren't overpaying. By leveraging Ownwell's services, homeowners in El Lago can achieve substantial savings and alleviate the burden of high property tax bills.
Average El Lago Tax Bill
$5,193
Average Harris County Tax Bill
$4,078
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across El Lago, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77586 | $515 | $2,929 | $5,193 | $6,686 | $8,065 |
Source: Ownwell
$1,148
Average El Lago Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 20 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Harris Appraisal District | |
| Phone | (713) 957-7800 |
| Website | hcad.org |
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