Goldthwaite, Texas Property Taxes
The median property tax rate in Goldthwaite, TX is 0.20%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $180,520 in Goldthwaite, the typical annual property tax bill is around $618, which is well below the national median of $2,690. Property taxes in Goldthwaite are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Goldthwaite's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial yearly savings. Whether you're in the heart of Goldthwaite or another part of the city, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Goldthwaite, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.2%
Estimate Property Tax Bill
$361
$334
Ownwell’s Goldthwaite Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Goldthwaite with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goldthwaite 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 Goldthwaite, Texas
Property taxes in Goldthwaite, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goldthwaite is 0.47%, significantly lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Goldthwaite set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goldthwaite 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 Goldthwaite's effective property tax rate to other counties in Texas and the national median. For comparison, 75024 has the highest median property tax rate of 2.18%, while 79780 has the lowest median tax rate of 0.34%. Understanding how these cities compare with Goldthwaite provides valuable insights into the varying tax landscape across Mills County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goldthwaite Tax Rate
0.20%
Average Lampasas County Tax Rate
0.89%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goldthwaite, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76844 | 0.16% | 0.19% | 0.20% | 0.52% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Goldthwaite, Texas
In Goldthwaite, 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 local 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 Goldthwaite, 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 Goldthwaite 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 in Goldthwaite is 76844, with a median tax bill of $618, the same as the lowest median tax bill, also in zip code 76844.
Average Goldthwaite Assessed Value
$180,520
Average Lampasas County Assessed Value
$268,280
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goldthwaite, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76844 | $92,975 | $138,480 | $180,520 | $232,175 | $550,320 |
Source: Ownwell
Property Tax Bills Across Goldthwaite, Texas
In Goldthwaite, property tax bills are calculated based on the assessed value of a home, which is determined by the local appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the assessed value include the home's market value, property improvements, and comparable property sales in the area. For homeowners in Goldthwaite, understanding these factors is crucial as they directly impact the amount owed annually. For instance, with a median home price of $180,520, tax bills can vary significantly. At the 25th percentile, homeowners might pay around $336, while those at the 75th percentile could see bills as high as $1,161. The 90th percentile tax bill reaches up to $1,536. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to be aware of how local rates and assessed values can affect their finances. High property taxes can influence decisions on home improvements and even the overall affordability of homeownership in the area.
Average Goldthwaite Tax Bill
$618
Average Lampasas County Tax Bill
$2,214
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Goldthwaite, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76844 | $233 | $336 | $618 | $1,161 | $1,536 |
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 | |
|---|---|
| Lampasas Appraisal District | |
| Website | www.lampasascad.org |