Itasca, Texas Property Taxes
The median property tax rate in Itasca, TX is 1.56%, notably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $118,540 in Itasca, the typical annual property tax bill amounts to $1,776, which is below the national median of $2,690. Property taxes in Itasca are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Itasca'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 Itasca 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
Itasca, 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 Itasca, Texas Tax Savings
Ownwell’s Itasca Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Itasca with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Itasca 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 Itasca. 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 Itasca, Texas
Property taxes in Itasca, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Itasca is 1.56%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Itasca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Itasca 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 Itasca's effective property tax rate to other counties in Texas and the national median. For comparison, the 76055 zip code has the highest median property tax rate of 1.56%, while the 76055 zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Itasca provides valuable insights into the varying tax landscape across Hill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Itasca Tax Rate
1.56%
Average Hill County Tax Rate
1.56%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Itasca, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76055 | 0.96% | 1.34% | 1.56% | 1.91% | 1.91% |
Source: Ownwell
$1,148
Average Itasca Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Itasca, Texas
In Itasca, 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 Hill 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 Itasca, 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 Itasca helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Itasca are both $1,776, found in the 76055 zip code.
Average Itasca Assessed Value
$118,540
Average Hill County Assessed Value
$116,870
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Itasca, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76055 | $30,268 | $63,668 | $118,540 | $197,982 | $363,079 |
Source: Ownwell
$1,148
Average Itasca Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Itasca, Texas
In Itasca, located in Hill County, TX, property tax bills are calculated based on the assessed value of your home and the local tax rate. With a median home price of $118,540, the tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $968, while those in the 75th percentile face bills closer to $3,013, and the 90th percentile sees amounts up to $4,393. These figures are influenced by factors such as property location, improvements, and local tax rates. Compared to the national median property tax rate of 0.99%, Itasca's rates can be a significant burden on homeowners. This is where Ownwell steps in to help. By providing expert property tax appeal and exemption services, Ownwell can assist homeowners in reducing their assessed property values, thereby lowering their tax bills. Our team of professionals ensures that you only pay your fair share, potentially saving you hundreds or even thousands of dollars annually.
Average Itasca Tax Bill
$1,776
Average Hill County Tax Bill
$1,810
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Itasca, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76055 | $477 | $968 | $1,776 | $3,013 | $4,393 |
Source: Ownwell
$1,148
Average Itasca Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Hill Appraisal District | |
| Website | esearch.hillcad.org |
Save money on your property taxes with Ownwell.
Enter your address.
With just your address Ownwell will analyze your property expenses to find you savings using real time market data, local expertise and AI.
Answer some questions.
The more we know about your property, the more we can save you. There's no up-front costs, it's risk-free to sign up. Only pay if you save!
Unlock your savings.
We gather evidence, file all documentation, and attend hearings on your behalf year after year, so you never overpay again.