Lakehills, Texas Property Taxes
The median property tax rate in Lakehills, TX is 0.19%, significantly lower than both the national median of 0.99% and the Texas state median of 1.67%. With a median home value of $53,780 in Lakehills, the typical annual property tax bill is just $103, far below the national median of $2,690. Property taxes in Lakehills are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural uses. Understanding the property tax system in Lakehills, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lakehills or another part of Medina County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lakehills, 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 Lakehills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakehills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakehills 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 Lakehills, Texas
Property taxes in Lakehills, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakehills is 0.19%, significantly lower than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Lakehills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakehills 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 Lakehills' effective property tax rate to other counties in Texas and the national median. For comparison, the highest median property tax rate in Texas is 2.18%, while the lowest median tax rate is 0.11%. Understanding how these cities compare with Lakehills provides valuable insights into the varying tax landscape across Medina County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakehills Tax Rate
0.19%
Average Medina County Tax Rate
1.52%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakehills, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78063 | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Source: Ownwell
Property Tax Assessment Values Across Lakehills, Texas
In Lakehills, 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 Medina 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 Lakehills, 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 Lakehills is $53,780, and the median tax bill is notably consistent across various percentiles, all standing at $103. 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 Lakehills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakehills Assessed Value
$53,780
Average Medina County Assessed Value
$140,520
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakehills, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78063 | $53,780 | $53,780 | $53,780 | $53,780 | $53,780 |
Source: Ownwell
Property Tax Bills Across Lakehills, Texas
In Lakehills, Medina County, TX, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by the county appraisal district, which evaluates the market value of each property. For Lakehills, the median home price stands at $53,780. The tax rate is applied to this assessed value to compute the annual tax bill. In this area, property tax bills show minimal variation, with the 25th, 75th, and 90th percentiles all at $103. Homeowners in Lakehills benefit from relatively low property tax bills compared to the national median property tax rate of 0.99%. This low tax burden can make homeownership more affordable and attractive in this region. However, it is essential for homeowners to stay informed about any changes in assessed values or tax rates, as these factors directly influence their annual tax obligations. Understanding how these elements interact helps homeowners plan their finances better and anticipate future expenses.
Average Lakehills Tax Bill
$103
Average Medina County Tax Bill
$1,930
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakehills, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 78063 | $103 | $103 | $103 | $103 | $103 |
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 | |
|---|---|
| Medina Appraisal District | |
| Website | esearch.medinacad.org |