Mountain Home, Texas Property Taxes
The median property tax rate in Mountain Home, TX is 0.44%, considerably lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Mountain Home at $336,580, the typical annual property tax bill reaches $1,666, significantly below the national median of $2,690. Property taxes in Mountain Home 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 Mountain Home'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 Mountain Home 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
Mountain Home, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,481
$1,370
Ownwell’s Mountain Home Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mountain Home with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mountain Home 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 Mountain Home, Texas
Property taxes in Mountain Home, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mountain Home is 0.44%, which is lower than both the Texas state median of 1.60% and the U.S. national median of 0.99%. Local government entities within Mountain Home set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mountain Home 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 Mountain Home's effective property tax rate to other counties in Texas and the national median. For comparison, the 78058 zip code has the highest median property tax rate of 0.44%, while the same zip code also has the lowest median tax rate of 0.44%. Understanding how these cities compare with Mountain Home provides valuable insights into the varying tax landscape across Kimble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mountain Home Tax Rate
0.44%
Average Kimble County Tax Rate
0.99%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mountain Home, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78058 | 0.18% | 0.32% | 0.44% | 0.53% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Mountain Home, Texas
In Mountain Home, 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 Kimble 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 Mountain Home, 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 Mountain Home helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,666, found in the 78058 zip code.
Average Mountain Home Assessed Value
$336,580
Average Kimble County Assessed Value
$130,340
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mountain Home, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78058 | $82,060 | $84,790 | $336,580 | $562,940 | $706,040 |
Source: Ownwell
Property Tax Bills Across Mountain Home, Texas
In Mountain Home, Kimble County, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to calculate the annual tax bill. For instance, with a median home price of $336,580, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $1,029, while at the 75th percentile, it rises to approximately $2,193. Those at the 90th percentile might see tax bills as high as $2,772. These figures demonstrate the range of potential tax burdens on homeowners, influenced by both property values and the specific tax rates applied. Comparatively, with the national median property tax rate at 0.99%, homeowners in Mountain Home experience a diverse range of tax bills, reflecting local economic conditions and property valuations. This variation can significantly impact homeowners' financial planning and overall affordability of living in the area.
Average Mountain Home Tax Bill
$1,666
Average Kimble County Tax Bill
$1,187
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Mountain Home, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78058 | $748 | $1,029 | $1,666 | $2,193 | $2,772 |
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 | |
|---|---|
| Kimble Appraisal District | |
| Website | propaccess.trueautomation.com |