Thornton, Texas Property Taxes
The median property tax rate in Thornton, TX is 1.11%, which is higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $121,250, the typical annual property tax bill in Thornton is $1,268, significantly less than the national median of $2,690. Property taxes in Thornton are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Thornton'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 Thornton or another part of Limestone County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thornton, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,346
$1,245
Ownwell’s Thornton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thornton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thornton 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 Thornton, Texas
Property taxes in Thornton, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thornton is 1.11%, higher than both the Texas state median of 1.6% and the U.S. national median of 0.99%. Local government entities within Thornton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thornton 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 Thornton's effective property tax rate to other counties in Texas and the national median. For comparison, the 76687 zip code has the highest median property tax rate of 1.11%, while the same zip code has the lowest median tax rate of 1.11%. Understanding how these cities compare with Thornton provides valuable insights into the varying tax landscape across Limestone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thornton Tax Rate
1.11%
Average Limestone County Tax Rate
1.05%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thornton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76687 | 0.39% | 0.64% | 1.11% | 1.55% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Thornton, Texas
In Thornton, 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 Limestone 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 Thornton, 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 in Thornton is $121,250, with property tax bills ranging from $463 at the 25th percentile to $5,315 at the 90th percentile. The highest median tax bill is $1,268 in the 76687 zip code. 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 the tax burden.
Average Thornton Assessed Value
$121,250
Average Limestone County Assessed Value
$107,545
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thornton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76687 | $19,750 | $60,132 | $121,250 | $296,955 | $490,535 |
Source: Ownwell
Property Tax Bills Across Thornton, Texas
In Thornton, property tax bills are calculated based on the assessed value of a home, which is determined by the Limestone County appraisal district. Homeowners in Thornton see a variety of tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $463, while the 75th percentile tax bill reaches $3,006, and the 90th percentile tax bill can be as high as $5,315. These variations reflect differences in property values and the specific tax rates applied. The assessed value is influenced by factors such as the property's location, size, and market conditions. Tax rates are set by local taxing authorities and can vary within the county. Homeowners with properties in the highest median tax bill zip code, 76687, face a median tax bill of $1,268. This localized approach to property tax calculation can significantly impact homeowners' financial obligations, making it crucial for them to stay informed about their property's assessed value and the applicable tax rates.
Average Thornton Tax Bill
$1,268
Average Limestone County Tax Bill
$971
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Thornton, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76687 | $165 | $463 | $1,268 | $3,006 | $5,315 |
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 | |
|---|---|
| Limestone Appraisal District | |
| Website | esearch.limestonecad.com |