Lyford, Texas Property Taxes
The median property tax rate in Lyford, TX is 0.61%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $111,900 in Lyford, the typical annual property tax bill amounts to $712, well below the national median of $2,690. Property taxes in Lyford are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lyford'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 Lyford 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
Lyford, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Lyford, Texas Tax Savings
Ownwell’s Lyford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyford 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 Lyford. 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 Lyford, Texas
Property taxes in Lyford, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyford is 0.61%, lower than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lyford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyford 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 Lyford's effective property tax rate to other counties in Texas and the national median. For comparison, the 78569 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Lyford provides valuable insights into the varying tax landscape across Willacy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyford Tax Rate
0.61%
Average Hidalgo County Tax Rate
1.72%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78569 | 0.25% | 0.33% | 0.61% | 0.87% | 1.37% |
Source: Ownwell
$1,148
Average Lyford Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lyford, Texas
In Lyford, 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 Hidalgo 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 Lyford, 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 Lyford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Lyford is $712 in the 78569 zip code, while the lowest median tax bill is also $712 in the same zip code.
Average Lyford Assessed Value
$111,900
Average Hidalgo County Assessed Value
$133,156
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78569 | $56,662 | $80,452 | $111,900 | $193,667 | $243,707 |
Source: Ownwell
$1,148
Average Lyford Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lyford, Texas
In Lyford, Hidalgo County, TX, property tax bills are calculated based on the assessed value of the property. This assessed value is determined by the local appraisal district and is a percentage of the property's market value. The median home price in Lyford is $111,900, and property tax rates are applied to this assessed value to determine the tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, impacting the overall tax bill. Homeowners in Lyford face tax bills ranging from the 25th percentile at $278 to the 90th percentile at $2,350, with the highest median tax bill recorded at $712 in the 78569 zip code. Ownwell can help homeowners in Lyford save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell ensures that homeowners are not overpaying on their taxes. This can lead to significant savings, especially in a region where property tax rates can vary widely.
Average Lyford Tax Bill
$712
Average Hidalgo County Tax Bill
$1,928
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyford, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78569 | $202 | $278 | $712 | $1,491 | $2,350 |
Source: Ownwell
$1,148
Average Lyford 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 | |
|---|---|
| Hidalgo Appraisal District | |
| Phone | (956) 381-8466 |
| Website | esearch.hidalgoad.org |
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