Abbott, Texas Property Taxes
The median property tax rate in Abbott, TX is 1.27%, which is higher than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $252,050 in Abbott, the typical annual property tax bill reaches $2,955, surpassing the national median of $2,690. Property taxes in Abbott are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Abbott'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 Abbott or another part of McLennan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Abbott, 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 Abbott, Texas Tax Savings
Ownwell’s Abbott Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Abbott with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Abbott 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 Abbott. 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 Abbott, Texas
Property taxes in Abbott, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Abbott is 1.27%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Abbott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Abbott 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 Abbott's effective property tax rate to other counties in Texas and the national median. For comparison, the 76621 zip code has the highest median property tax rate of 1.27%, while the 76621 zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Abbott provides valuable insights into the varying tax landscape across McLennan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Abbott Tax Rate
1.27%
Average Mclennan County Tax Rate
1.79%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Abbott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76621 | 1.11% | 1.17% | 1.27% | 1.35% | 1.47% |
Source: Ownwell
$1,148
Average Abbott Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Abbott, Texas
In Abbott, 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 McLennan 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 Abbott, 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. The zip code with the highest median tax bill is 76621, with a tax bill of $2,955. Being aware of these valuation processes in Abbott helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Abbott Assessed Value
$252,050
Average Mclennan County Assessed Value
$228,020
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Abbott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76621 | $113,794 | $251,020 | $252,050 | $298,980 | $312,192 |
Source: Ownwell
$1,148
Average Abbott Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Abbott, Texas
In Abbott, located in McLennan County, TX, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the county appraisal district and reflects the market value of the property. Homeowners in Abbott face property tax bills that vary significantly; the 25th percentile tax bill is around $2,681, while the 75th percentile reaches $3,784, and the 90th percentile goes up to $4,105. This wide range highlights the variability in property tax burdens across different properties. The median home price in Abbott is $252,050, and with the national median property tax rate at 0.99%, homeowners here may find their tax bills relatively high in comparison. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value and, consequently, the tax bill. Ownwell can assist homeowners in Abbott by appealing their property assessments to ensure they are fair and accurate. By leveraging expert knowledge and local data, Ownwell can help reduce property tax bills, potentially saving homeowners hundreds or even thousands of dollars annually.
Average Abbott Tax Bill
$2,955
Average Mclennan County Tax Bill
$3,809
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Abbott, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76621 | $1,281 | $2,681 | $2,955 | $3,784 | $4,105 |
Source: Ownwell
$1,148
Average Abbott 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 | |
|---|---|
| Mclennan Appraisal District | |
| Phone | (254) 752-9864 |
| Website | esearch.mclennancad.org |
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