Jermyn, Texas Property Taxes
The median property tax rate in Jermyn, TX is 1.28%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Jermyn at $66,375, the typical annual property tax bill amounts to $854, surpassing the national median of $2,690. Property taxes in Jermyn 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 Jermyn'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 Jermyn 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
Jermyn, 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 Jermyn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jermyn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jermyn 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 Jermyn, Texas
Property taxes in Jermyn, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jermyn is 1.28%, higher than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Jermyn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jermyn 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 Jermyn's effective property tax rate to other counties in Texas and the national median. For comparison, the 76459 zip code has the highest median property tax rate of 1.28%, while the 76459 zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Jermyn provides valuable insights into the varying tax landscape across Jack County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jermyn Tax Rate
1.28%
Average Jack County Tax Rate
1.42%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jermyn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76459 | 0.57% | 0.91% | 1.28% | 1.90% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Jermyn, Texas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Jermyn, Texas. 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 Jack 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 Jermyn, 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 example, the median home price in Jermyn is $66,375, with tax bills ranging from $356 at the 25th percentile to $3,066 at the 90th percentile. Notably, the highest and lowest median tax bills in the area are both $854, found in zip code 76459. 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 Jermyn Assessed Value
$66,375
Average Jack County Assessed Value
$110,330
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jermyn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76459 | $8,223 | $30,122 | $66,375 | $136,302 | $325,834 |
Source: Ownwell
Property Tax Bills Across Jermyn, Texas
In Jermyn, located in Jack County, TX, property tax bills are calculated based on the assessed value of a property and the local tax rate. The median home price in Jermyn is $66,375, and the property tax rate is applied to this assessed value to determine the total tax bill. Homeowners in Jermyn can expect a wide range of tax bills, with the 25th percentile tax bill at $356 and the 75th percentile tax bill reaching $1,787. For those at the 90th percentile, the tax bill can be as high as $3,066. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Jermyn's tax rate can significantly impact homeowners, making it crucial for them to understand how their property is assessed. This understanding can help homeowners anticipate their financial obligations and explore potential exemptions or appeals to manage their tax burden effectively.
Average Jermyn Tax Bill
$854
Average Jack County Tax Bill
$1,539
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Jermyn, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76459 | $150 | $356 | $854 | $1,787 | $3,066 |
Source: Ownwell