Oak Ridge, Texas Property Taxes
The median property tax rate in Oak Ridge, TX is 0.94%, slightly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Oak Ridge, the typical annual property tax bill reaches $2,826, which exceeds the national median of $2,690. Property taxes in Oak Ridge are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oak Ridge'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 Oak Ridge 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
Oak Ridge, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,755
$1,624
$1,148
Average Oak Ridge, Texas Tax Savings
Ownwell’s Oak Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak Ridge 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 Oak Ridge. 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 Oak Ridge, Texas
Property taxes in Oak Ridge, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Ridge is 1.35%, higher than both the Texas state median of 1.9% and the U.S. national median of 0.99%. Local government entities within Oak Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Ridge 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 Oak Ridge's effective property tax rate to other counties in Texas and the national median. For comparison, the 76240 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Oak Ridge provides valuable insights into the varying tax landscape across Kaufman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oak Ridge Tax Rate
0.94%
Average Kaufman County Tax Rate
1.74%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Ridge, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76240 | 0.41% | 0.73% | 0.94% | 1.70% | 3.82% |
Source: Ownwell
$1,148
Average Oak Ridge Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Oak Ridge, Texas
In Oak Ridge, 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 Kaufman 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 Oak Ridge, 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 Oak Ridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 76240, while the lowest is also 76240, with both having a tax bill of $2,826.00.
Average Oak Ridge Assessed Value
$186,724
Average Kaufman County Assessed Value
$308,491
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oak Ridge, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76240 | $54,866 | $70,000 | $186,724 | $393,726 | $432,007 |
Source: Ownwell
$1,148
Average Oak Ridge Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Oak Ridge, Texas
In Oak Ridge, property tax bills are calculated based on the assessed value of a home, which is determined by the Kaufman County appraisal district. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the home's market value, location, and any applicable exemptions are considered in this calculation. For example, with a median home price of $186,724, homeowners in Oak Ridge may see tax bills ranging from $1,016 at the 25th percentile to $3,243 at the 75th percentile. This can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. Ownwell offers expert property tax appeal and exemption services to help homeowners in Oak Ridge reduce their tax burden. By carefully analyzing property assessments and identifying potential errors or opportunities for exemptions, Ownwell ensures that homeowners pay only their fair share. This professional assistance can lead to substantial savings on annual property tax bills, providing financial relief and peace of mind.
Average Oak Ridge Tax Bill
$2,826
Average Kaufman County Tax Bill
$5,156
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Ridge, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76240 | $424 | $1,016 | $2,826 | $3,243 | $3,243 |
Source: Ownwell
$1,148
Average Oak Ridge 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 | |
|---|---|
| Kaufman Appraisal District | |
| Website | esearch.kaufman-cad.org |
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