Muleshoe, Texas Property Taxes
The median property tax rate in Muleshoe, TX is 0.80%, which is lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $50,970 in Muleshoe, the typical annual property tax bill is $359, significantly below the national median of $2,690. Property taxes in Muleshoe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Muleshoe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Muleshoe 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
Muleshoe, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$408
$377
Ownwell’s Muleshoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Muleshoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Muleshoe 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 Muleshoe, Texas
Property taxes in Muleshoe, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Muleshoe is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Muleshoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Muleshoe 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 Muleshoe's effective property tax rate to other counties in Texas and the national median. For comparison, the 79347 zip code has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Muleshoe provides valuable insights into the varying tax landscape across Lamb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Muleshoe Tax Rate
0.80%
Average Lamb County Tax Rate
2.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Muleshoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79347 | 0.51% | 0.77% | 0.80% | 1.00% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Muleshoe, Texas
In Muleshoe, 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 Lamb 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 Muleshoe, 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. The median home price in Muleshoe is $50,970, with tax bills ranging from $232 at the 25th percentile to $2,500 at the 90th percentile. The highest and lowest median tax bill in the area is $359, found in the 79347 zip code. Being aware of these valuation processes in Muleshoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Muleshoe Assessed Value
$50,970
Average Lamb County Assessed Value
$37,240
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Muleshoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79347 | $17,179 | $33,500 | $50,970 | $154,922 | $249,005 |
Source: Ownwell
Property Tax Bills Across Muleshoe, Texas
In Muleshoe, located in Lamb County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Muleshoe is $50,970, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property size, location, and any applicable exemptions also play a role in the final amount. For instance, the tax bill can range significantly, with the 25th percentile at $232 and the 75th percentile at $748. At the higher end, the 90th percentile tax bill can reach up to $2,500. The highest median tax bill recorded in the area is $359, which is consistent across different zip codes. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by influencing the overall cost of homeownership and the quality of community services.
Average Muleshoe Tax Bill
$359
Average Lamb County Tax Bill
$638
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Muleshoe, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79347 | $153 | $232 | $359 | $748 | $2,500 |
Source: Ownwell