Lometa, Texas Property Taxes
The median property tax rate in Lometa, TX is 0.72%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Lometa, the typical annual property tax bill reaches $1,263, well below the national median of $2,690. Property taxes in Lometa 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 Lometa'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 Lometa or another part of Lampasas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lometa, 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 Lometa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lometa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lometa 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 Lometa, Texas
Property taxes in Lometa, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lometa is 0.72%, lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Lometa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lometa 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 Lometa's effective property tax rate to other counties in Texas and the national median. For comparison, the 76853 zip code has the highest median property tax rate of 0.72%, while the 76853 zip code has the lowest median tax rate of 0.72%. Understanding how these cities compare with Lometa provides valuable insights into the varying tax landscape across Lampasas, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lometa Tax Rate
0.72%
Average Lampasas County Tax Rate
0.89%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lometa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76853 | 0.15% | 0.35% | 0.72% | 1.44% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Lometa, Texas
In Lometa, 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. 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. In Lometa, the median home price is $185,740, with tax bills ranging from $519 at the 25th percentile to $4,184 at the 90th percentile. Notably, the highest and lowest median tax bills both fall within the 76853 zip code, at $1,263. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Lometa Assessed Value
$185,740
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 Lometa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76853 | $41,056 | $95,050 | $185,740 | $380,650 | $722,254 |
Source: Ownwell
Property Tax Bills Across Lometa, Texas
In the city of Lometa, located in Lampasas County, TX, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Lometa can expect a range of property tax bills, with the 25th percentile at $519 and the 75th percentile at $2,406. For those in the 90th percentile, the tax bill can reach up to $4,184. Compared to the national median property tax rate of 0.99%, Lometa's property tax rate stands out, affecting homeowners' financial planning and budgeting. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Lometa Tax Bill
$1,263
Average Lampasas County Tax Bill
$2,214
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lometa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76853 | $188 | $519 | $1,263 | $2,406 | $4,184 |
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 |