Pine Knott, Texas Property Taxes
The median property tax rate in Pine Knott, TX is 1.43%, which is considerably higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With the median home value in Pine Knott at $32,840, the typical annual property tax bill reaches $470, well below the national median of $2,690. Property taxes in Pine Knott are calculated based on the tax assessed value, typically lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pine Knott'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 Pine Knott 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
Pine Knott, Texas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$3,340
$2,192
$1,148
Average Pine Knott, Texas Tax Savings
Ownwell’s Pine Knott Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pine Knott with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine Knott to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Pine Knott. 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 Pine Knott, Texas
Property taxes in Pine Knott, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pine Knott is 1.43%, higher than both the Texas state median of 1.80% and the U.S. national median of 0.99%. Local government entities within Pine Knott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pine Knott 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 Pine Knott's effective property tax rate to other counties in Texas and the national median. For comparison, the 75001 zip code has the highest median property tax rate of 2.18%, while the 73301 zip code has the lowest median tax rate of 0.61%. Understanding how these cities compare with Pine Knott provides valuable insights into the varying tax landscape across Liberty County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pine Knott Tax Rate
1.43%
Average Liberty County Tax Rate
1.43%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pine Knott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Pine Knott Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Pine Knott, Texas
In Pine Knott, 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 Liberty 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 Pine Knott, 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. For instance, the median home price is $32,840, and the annual tax bill for the 25th, 75th, and 90th percentiles is $470. 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 Pine Knott helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pine Knott Assessed Value
$32,840
Average Liberty County Assessed Value
$88,865
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pine Knott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Pine Knott Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Pine Knott, Texas
In Pine Knott, Liberty County, TX, property tax bills are calculated based on the assessed value of your home. The local tax rate is applied to this value, resulting in your annual tax bill. For example, with a median home price of $32,840, homeowners can expect an estimated tax bill around $470, which is consistent across the 25th, 75th, and 90th percentiles. This rate is significantly lower than the national median property tax rate of 0.99%. Several factors influence your tax bill, including property improvements, neighborhood developments, and changes in the local tax rate. These variables can lead to fluctuations in your annual tax obligation, impacting your financial planning and homeownership costs. Ownwell can help homeowners in Pine Knott save on their property tax bills by providing expert property tax appeal and exemption services. Our team reviews your property’s assessed value, identifies potential discrepancies, and files appeals on your behalf. This can result in substantial savings, ensuring you pay only your fair share in property taxes.
Average Pine Knott Tax Bill
$470
Average Liberty County Tax Bill
$1,071
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Pine Knott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
$1,148
Average Pine Knott Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| Liberty Appraisal District | |
| Website | esearch.libertycad.com |
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