Gun Barrel City, Texas Property Taxes
The median property tax rate in Gun Barrel City, TX is 1.22%, which is significantly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $175,753, the typical annual property tax bill in Gun Barrel City amounts to $1,434, falling below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Gun Barrel City'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 Gun Barrel City or elsewhere within Henderson County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gun Barrel City, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$2,144
$1,984
Ownwell’s Gun Barrel City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gun Barrel City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gun Barrel City 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 Gun Barrel City, Texas
Property taxes in Gun Barrel City, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gun Barrel City is 1.22%, higher than both the Texas state median of 1.9% and the U.S. national median of 0.99%. Local government entities within Gun Barrel City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gun Barrel City 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 Gun Barrel City's effective property tax rate to other counties in Texas and the national median. For comparison, the 75156 zip code has the highest median property tax rate of 1.22%, while the same 75156 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Gun Barrel City provides valuable insights into the varying tax landscape across Henderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gun Barrel City Tax Rate
1.22%
Average Henderson County Tax Rate
1.40%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gun Barrel City, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75156 | 0.18% | 0.54% | 1.22% | 1.55% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Gun Barrel City, Texas
In Gun Barrel City, Texas, understanding the difference between "market value" and "assessed value" is essential 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 Henderson 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 Gun Barrel City, 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. For instance, the median home price in the area is $175,753, with tax bills ranging from $362 at the 25th percentile to $6,093 at the 90th percentile. The highest and lowest median tax bills are both $1,434, found in the 75156 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gun Barrel City Assessed Value
$175,753
Average Henderson County Assessed Value
$139,776
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gun Barrel City, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75156 | $19,049 | $56,632 | $175,753 | $328,649 | $499,083 |
Source: Ownwell
Property Tax Bills Across Gun Barrel City, Texas
In Gun Barrel City, property tax bills are calculated based on the assessed value of a home, which is determined by the Henderson County appraisal district. The assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For example, with a median home price of $175,753, homeowners can expect varying tax bills depending on their property’s assessed value and applicable exemptions. Factors such as property location, size, and improvements are considered when determining the assessed value. In Gun Barrel City, the property tax rate is influenced by local government budgets and voter-approved levies. Homeowners in the 25th percentile might see tax bills around $362, while those in the 75th percentile could face bills as high as $3,538. The 90th percentile tax bill can go up to $6,093. Compared to the national median property tax rate of 0.99%, Gun Barrel City's tax rates can significantly impact homeowners, making it essential to understand local assessments and potential exemptions to manage costs effectively.
Average Gun Barrel City Tax Bill
$1,434
Average Henderson County Tax Bill
$1,470
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Gun Barrel City, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75156 | $93 | $362 | $1,434 | $3,538 | $6,093 |
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 | |
|---|---|
| Henderson Appraisal District | |
| Website | esearch.henderson-cad.org |