Lampasas, Texas Property Taxes
The median property tax rate in Lampasas, TX is 0.99%, aligning with the national median of 0.99% but notably lower than the Texas state median of 1.67%. With a median home value of $225,545 in Lampasas, the typical annual property tax bill amounts to $2,226, slightly below the national median of $2,690. Property taxes in Lampasas 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 Lampasas'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 Lampasas 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
Lampasas, 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 Lampasas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lampasas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lampasas 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 Lampasas, Texas
Property taxes in Lampasas, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lampasas is 0.99%, aligning with both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lampasas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lampasas 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 Lampasas's effective property tax rate to other counties in Texas and the national median. For comparison, the 76550 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with Lampasas provides valuable insights into the varying tax landscape across Lampasas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lampasas Tax Rate
0.99%
Average Lampasas County Tax Rate
0.89%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lampasas, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76550 | 0.28% | 0.59% | 0.99% | 1.64% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Lampasas, Texas
In Lampasas, 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 Lampasas 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 Lampasas, 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. The median home price in Lampasas is $225,545, with tax bills ranging from $1,031 at the 25th percentile to $5,159 at the 90th percentile. Both the highest and lowest median tax bills in the area are $2,226, found in the 76550 zip code. By understanding 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 Lampasas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lampasas Assessed Value
$225,545
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 Lampasas, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76550 | $65,971 | $135,638 | $225,545 | $356,035 | $514,459 |
Source: Ownwell
Property Tax Bills Across Lampasas, Texas
In Lampasas, TX, property tax bills are calculated based on the assessed value of a home, which is determined by the county appraisal district. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors that influence the assessed value include the market value of the property, any improvements made, and comparable property sales in the area. Homeowners in Lampasas can expect a range of property tax bills. For instance, the 25th percentile tax bill is around $1,031, while the 75th percentile tax bill reaches approximately $3,599. At the 90th percentile, homeowners may see tax bills as high as $5,159. The median home price in Lampasas is $225,545, which helps contextualize these tax amounts. Compared to the national median property tax rate of 0.99%, homeowners in Lampasas may find their tax bills to be relatively moderate, depending on their property's assessed value and specific circumstances. This system ensures that tax contributions are proportionate to property values, impacting homeowners' financial planning and budgeting.
Average Lampasas Tax Bill
$2,226
Average Lampasas County Tax Bill
$2,214
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lampasas, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76550 | $313 | $1,031 | $2,226 | $3,599 | $5,159 |
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 |