Paluxy, Texas Property Taxes
The median property tax rate in Paluxy, TX is 1.56%, which is notably higher than the national median of 0.99% but slightly lower than the Texas state median of 1.67%. With a median home value of $91,380 in Paluxy, the typical annual property tax bill amounts to $257, falling below the national median of $2,690. Property taxes in Paluxy are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Paluxy'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 Paluxy 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
Paluxy, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
Ownwell’s Paluxy Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Paluxy with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Paluxy to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Paluxy, Texas
Property taxes in Paluxy, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paluxy is 1.56%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Paluxy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paluxy 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 Paluxy's effective property tax rate to other counties in Texas and the national median. For comparison, the 76467 zip code has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Paluxy provides valuable insights into the varying tax landscape across Hood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paluxy Tax Rate
1.56%
Average Hood County Tax Rate
0.96%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paluxy, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76467 | 0.11% | 0.20% | 1.56% | 1.56% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Paluxy, Texas
In Paluxy, 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 Hood 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 Paluxy, 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 Paluxy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Paluxy are both $257, found in the 76467 zip code.
Average Paluxy Assessed Value
$91,380
Average Hood County Assessed Value
$289,560
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paluxy, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76467 | $14,478 | $50,440 | $91,380 | $160,485 | $261,284 |
Source: Ownwell
Property Tax Bills Across Paluxy, Texas
In Paluxy, located in Hood County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the property's market value. The tax rate, set by local taxing authorities, is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and improvements. For instance, the median home price in Paluxy is $91,380. Homeowners at the 25th percentile can expect a tax bill around $157, while those at the 75th percentile might see bills as high as $1,163. At the 90th percentile, tax bills can reach up to $1,685. Compared to the national median property tax rate of 0.99%, Paluxy's rates can vary significantly, affecting homeowners differently based on their property's assessed value. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Paluxy Tax Bill
$257
Average Hood County Tax Bill
$2,081
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Paluxy, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76467 | $129 | $157 | $257 | $1,163 | $1,685 |
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 | |
|---|---|
| Hood Appraisal District | |
| Website | iswdataclient.azurewebsites.net |