Wilson, Texas Property Taxes
The median property tax rate in Wilson, TX is 1.85%, considerably higher than both the national median of 0.99% and the Texas state median of 1.67%. With the median home value in Wilson at $192,860, the typical annual property tax bill reaches $2,689, closely aligning with the national median of $2,690. Property taxes in Wilson 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 Wilson'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 Wilson 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
Wilson, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$3,568
$3,301
Ownwell’s Wilson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilson 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 Wilson, Texas
Property taxes in Wilson, Texas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilson is 1.85%, significantly higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Wilson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilson 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 Wilson's effective property tax rate to other counties in Texas and the national median. For comparison, the 79381 zip code has the highest median property tax rate of 1.85%, while the same zip code also has the lowest median tax rate of 1.85%. Understanding how these cities compare with Wilson provides valuable insights into the varying tax landscape across Lynn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wilson Tax Rate
1.85%
Average Lynn County Tax Rate
1.99%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79381 | 0.92% | 1.23% | 1.85% | 2.36% | 3.29% |
Source: Ownwell
Property Tax Assessment Values Across Wilson, Texas
In Wilson, 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 Lynn 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 Wilson, 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 Wilson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wilson is $2,689 in the 79381 zip code, while the lowest is also $2,689 in the same zip code.
Average Wilson Assessed Value
$192,860
Average Lynn County Assessed Value
$78,045
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wilson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79381 | $23,214 | $47,610 | $192,860 | $430,304 | $564,262 |
Source: Ownwell
Property Tax Bills Across Wilson, Texas
In Wilson, located in Lynn County, TX, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is based on the market value of the property, which is periodically evaluated by local authorities. Various factors such as property size, location, and improvements are considered during the assessment process. For homeowners in Wilson, the impact of property taxes can vary significantly. The 25th percentile tax bill is around $994, while those in the 75th percentile see bills as high as $6,242. At the 90th percentile, tax bills can reach up to $9,937. These figures highlight the substantial range of property tax obligations within the area. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Wilson to understand how their local rates and assessed values influence their annual tax bills. By staying informed, homeowners can better anticipate their financial responsibilities and plan accordingly.
Average Wilson Tax Bill
$2,689
Average Lynn County Tax Bill
$1,669
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilson, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79381 | $409 | $994 | $2,689 | $6,242 | $9,937 |
Source: Ownwell