Palmhurst, Texas Property Taxes
The median property tax rate in Palmhurst, TX is 1.52%, significantly higher than the national median of 0.99% but still below the Texas state median of 1.67%. With a median home value of $228,831, the typical annual property tax bill in Palmhurst reaches $2,933, surpassing the national median of $2,690. Property taxes in Palmhurst are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding Palmhurst'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 Palmhurst 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
Palmhurst, 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 Palmhurst, Texas Tax Savings
Ownwell’s Palmhust Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palmhust with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palmhust 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 Palmhust. 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 Palmhurst, Texas
Property taxes in Palmhurst, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palmhurst is 1.52%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Palmhurst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palmhurst 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 Palmhurst's effective property tax rate to other counties in Texas and the national median. For comparison, the 78574 zip code has the highest median property tax rate of 1.89%, while the 78572 zip code has the lowest median tax rate of 1.42%. Understanding how these cities compare with Palmhurst provides valuable insights into the varying tax landscape across Hidalgo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palmhurst Tax Rate
1.52%
Average Hidalgo County Tax Rate
1.72%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palmhurst, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78572 | 0.72% | 0.85% | 1.42% | 2.33% | 3.09% |
| 78573 | 0.56% | 1.14% | 1.52% | 1.86% | 1.96% |
| 78574 | 1.89% | 1.89% | 1.89% | 1.89% | 1.89% |
Source: Ownwell
$1,148
Average Palmhurst Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Palmhurst, Texas
In Palmhurst, 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 Palmhurst, 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 Palmhurst is $228,831. The median tax bill can vary significantly, with the highest being $4,015 in zip code 78572 and the lowest being $1,684 in zip code 78574. 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 Palmhurst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Palmhurst Assessed Value
$228,831
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 Palmhurst, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78572 | $104,665 | $151,770 | $219,058 | $284,767 | $329,032 |
| 78573 | $69,912 | $97,011 | $228,831 | $385,410 | $596,510 |
| 78574 | $89,308 | $89,308 | $89,308 | $89,308 | $89,308 |
Source: Ownwell
$1,148
Average Palmhurst Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Palmhurst, Texas
In Palmhurst, located in Hidalgo County, TX, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value, which is influenced by the market value of the property. With a median home price of $228,831, homeowners can expect varying tax bills. For instance, the 25th percentile tax bill is $1,250, while the 75th percentile reaches up to $5,926. Some homeowners may even face tax bills as high as $8,758 at the 90th percentile. These tax bills can significantly impact homeowners, often exceeding the national median property tax rate of 0.99%. Ownwell can help by providing expert property tax appeal and exemption services, ensuring that homeowners in Palmhurst are not overpaying. By analyzing property assessments and market conditions, Ownwell can identify discrepancies and file appeals to potentially lower tax bills, offering substantial savings and financial relief for homeowners.
Average Palmhurst Tax Bill
$2,933
Average Hidalgo County Tax Bill
$1,928
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Palmhurst, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78572 | $963 | $1,391 | $4,015 | $6,515 | $6,722 |
| 78573 | $700 | $1,245 | $2,933 | $5,916 | $8,803 |
| 78574 | $1,684 | $1,684 | $1,684 | $1,684 | $1,684 |
Source: Ownwell
$1,148
Average Palmhurst 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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