Lamesa, Texas Property Taxes
The median property tax rate in Lamesa, TX is 0.22%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $123,580 in Lamesa, the typical annual property tax bill is $261, which is well below the national median of $2,690. Property taxes in Lamesa are calculated based on the assessed value, which often falls below market value due to various exemptions like primary residence and agricultural exemptions. Understanding Lamesa's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lamesa 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
Lamesa, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.22%
Estimate Property Tax Bill
$272
$252
Ownwell’s Lamesa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamesa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lamesa 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 Lamesa, Texas
Property taxes in Lamesa, Texas, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Lamesa is 1.40%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Lamesa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamesa 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 Lamesa's effective property tax rate to other counties in Texas and the national median. For comparison, the zip code 79936 has the highest median property tax rate of 2.18%, while the zip code 79938 has the lowest median tax rate of 1.61%. Understanding how these cities compare with Lamesa provides valuable insights into the varying tax landscape across Dawson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lamesa Tax Rate
0.22%
Average Martin County Tax Rate
0.22%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamesa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79331 | 0.21% | 0.21% | 0.22% | 0.22% | 0.23% |
Source: Ownwell
Property Tax Assessment Values Across Lamesa, Texas
In Lamesa, 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 Martin 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 Lamesa, 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. For instance, the highest median tax bill in Lamesa is $261 in the 79331 zip code. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lamesa Assessed Value
$123,580
Average Martin County Assessed Value
$66,090
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamesa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79331 | $72,164 | $89,490 | $123,580 | $166,900 | $183,138 |
Source: Ownwell
Property Tax Bills Across Lamesa, Texas
In Lamesa, located in Martin County, TX, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in this region typically see a range of tax bills, with the 25th percentile at $163 and the 75th percentile at $379. The highest median tax bill recorded in the area is $261, which is significantly lower than the national median property tax rate of 0.99%. The assessed value is determined by the county's appraisal district, which considers factors such as the property's market value, location, and any improvements made. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners, this means that changes in property value or tax rates can directly impact their yearly expenses. Understanding these factors can help homeowners anticipate their tax obligations and plan their finances accordingly.
Average Lamesa Tax Bill
$261
Average Martin County Tax Bill
$154
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamesa, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 79331 | $150 | $163 | $261 | $379 | $439 |
Source: Ownwell