Ore City, Texas Property Taxes
The median property tax rate in Ore City, TX is 1.01%, slightly above the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $45,905 in Ore City, the typical annual property tax bill is $275, which is significantly below the national median of $2,690. Property taxes in Ore City are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Ore City's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you reside in the heart of Ore City or other parts of Marion County, being well-versed in the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Ore City, 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 Ore City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ore City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ore City 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 Ore City, Texas
Property taxes in Ore City, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ore City is 1.01%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Ore City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ore City 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 Ore City's effective property tax rate to other counties in Texas and the national median. For comparison, the 75683 zip code has the highest median property tax rate of 1.01%, while the 75683 zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Ore City provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ore City Tax Rate
1.01%
Average Marion County Tax Rate
0.88%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ore City, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75683 | 0.18% | 0.33% | 1.01% | 1.57% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Ore City, Texas
In Ore City, 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 Marion 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 Ore City, 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 Ore City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ore City is found in the zip code 75683, with a median of $275, while the lowest also shares the same value and zip code.
Average Ore City Assessed Value
$45,905
Average Marion County Assessed Value
$74,260
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ore City, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75683 | $4,710 | $18,992 | $45,905 | $95,402 | $167,415 |
Source: Ownwell
Property Tax Bills Across Ore City, Texas
In Ore City, located in Marion County, TX, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Ore City can expect their tax bills to vary significantly based on their property's assessed value. For instance, the 25th percentile of tax bills is $106, while the 75th percentile reaches $691, and the 90th percentile climbs to $1341. The median home price in Ore City is $45,905, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, Ore City's tax bills can be relatively moderate, but they still impact homeowners' finances. Factors such as property improvements, changes in market conditions, and local tax rates also play a role in determining the final tax bill. Homeowners need to be aware of these elements as they can significantly affect their annual property tax obligations.
Average Ore City Tax Bill
$275
Average Marion County Tax Bill
$470
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Ore City, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75683 | $47 | $106 | $275 | $691 | $1,341 |
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 | |
|---|---|
| Marion Appraisal District | |
| Website | www.marioncad.org |